Rewards-Focused Startup Eco Raises $26M in Round Led by a16z Crypto
Eco, a cryptocurrency business that claims to be developing a new sort of financial platform, has opened its doors to the public after receiving a new $26 million investment. In a blog post Friday, the company stated that its second funding round was led by a16z Crypto – the digital asset investment arm of Andreessen Horowitz – with participation from Founders Fund, Activant Capital, Slow Ventures, Coinbase Ventures, Tribe Capital, Valor Capital Group, and other investors. Andy Bromberg, co-founder of CoinList, was named CEO of Eco in October, according to a report by CoinDesk at the time of his appointment.
We’re putting together something that will be better than all of them put together.” Eco provides incentives for both crypto-asset savings and consumption at companies such as Amazon and Uber (Eco founder Garrett Camp is anUber co-founder).
The highest savings rate is depends on the number of friends that refer you.
According to a16z Crypto’s Katie Haun and Arianna Simpson, “Eco’s objective is to rethink not just how consumer financial products function — but also to redefine money itself,” in a blog post announcing the investment.
- Previous to this, the company secured $8.5 million in a round sponsored by Expa (Camp’s startup studio) and crypto investment firm Pantera Capital.
- DISCLOSURE CoinDesk is the world’s leading source of news and information about cryptocurrencies, digital assets, and the future of money.
- CoinDesk is an autonomous functioning subsidiary of Digital Currency Group, which is a cryptocurrency and blockchain startup investor that has a presence in the United States.
- Journalists for CoinDesk are not permitted to acquire stock in DCG in its entirety.
Subscribe to The Node, our daily report on top news and ideas in crypto.
Eco offers crypto savings rates without the crypto headaches
A crypto-powered banking service from a startup is taking on traditional banking — but it’s still allowing its customers to transact in U.S. dollars. Eco CEO Andy Bromberg claims that the company is not a neobank, which is a type of financial institution that offers a distinct brand and interface over accounts that are really held in a licensed sponsor bank. It’s also not a cryptocurrency exchange or wallet in the traditional sense: it’s aimed for users who haven’t yet caught the crypto bug. Eco is instead seeking to reimagine the entire system of savings, checks, and payments, he explained, with a crypto-based business model serving as the backbone of the system.
The financial technology industry, according to Bromberg, has resulted in “superior consumer products.” “Neobanks are better solutions for dealing with money, but they do not operate on a better infrastructure or with greater alignment” with clients, according to the author.
Staking a claim
In large letters on its website, Eco declares, “Eco is not a financial institution.” However, it allows you to “spend, save, and create money,” with the goal of replacing your bank, checking account, and credit card. When you spend money at specific retailers, you will receive a 5 percent rebate. In addition, you get a 2.5 percent yearly interest on your balance, which is more than the less than 0.5 percent earned by most banks. Marcus by Goldman Sachs is now offering 0.5 percent, which is among the highest bank rates available.
- Consumers can send in cash or deposit their wages at the location.
- The cryptocurrency industry is ablaze with excitement about staking, which is the practice of storing cryptocurrency currencies in a wallet and allowing them to be used to protect blockchain transactions in exchange for a fee.
- The rates are also attractive: Coinbase pays 4 percent for staked coins, while others offer returns of 8 percent or more for the same coins.
- They are developed by the Centre consortium.
- This is Eco’s take on the traditional savings account.
- They could earn more money if they purchased the USDC directly and staked it at Coinbase or other cryptocurrency companies, however.
- Eco claims that many of its clients are not in need of or concerned about FDIC coverage.
- Wyre, a regulated money services firm with the Financial Crimes Enforcement Network (FinCEN), also addresses compliance difficulties.
- It is not, however, regulated in the same manner that a licensed bank is.
These institutions were not named, but he did say, “We leverage Wyre in order to offer yield, but we do not have anything more to communicate beyond that.” According to Bromberg, there is a high demand for stablecoins for a range of various purposes, ranging from individual investors looking for leverage to crypto miners who want financing for operations to OTC markets.
Eco originally intended to establish a cryptocurrency, but the company has not followed further with those plans as of yet. Its website makes mention of “Eco Points,” and it claims that the salary of its staff is connected to the accumulation of these points.
It is possible that regulators will have questions about the model. In connection with its BlockFi Interest Account, BlockFi, a cryptocurrency startup, has being reviewed by securities authorities in Vermont, Alabama, Texas and New Jersey, who are concerned that it breaches securities regulations. According to Bromberg, “we are keeping a careful eye on everything and haven’t been convinced by the regulatory arguments on the status of that.” “We’re keeping an eye on things and making sure we’re on top of things.” Eco clients may also spend their money by making purchases using their Eco account – although, at the moment, this is only available at Amazon, Uber, DoorDash, and Instacart.
- This is intended to be a replacement for a standard credit card, although it is currently restricted in its capabilities.
- In addition, the business hopes to release a debit card in November that would allow customers to spend their money anywhere.
- Eco is not regulated as a bank, but the entities that it utilizes are, according to Bromberg, regulated entities.
- Prime Trust is a money transmitter regulated by the Financial Crimes Enforcement Network (FinCEN).
- Eco does not advertise the fact that its back end is crypto-based, other from a few explainers on its website, since it wants to make its offering as easy as possible for users.
24 Eco-Friendly Startups That Will Inspire Entrepreneurs to Go Green
Restoring soil health is a critical step in the direction of a more environmentally sustainable future. Biome Makers, a San Francisco-based firm launched in 2015 by Alberto Acedo and Adrián Ferrero, is devoted to improving soil health throughout the world, one farm at a time. As a result of its founding, the biotech firm has placed a strong emphasis on the restoration of soil health, working with farmers all over the world to improve both their agricultural and business operations. Farmers may use detailed reporting and analytics to get insight into soil fertility, biodiversity, and health, which can then be used to make educated and significant improvements.
Biome Makers is now adopting artificial intelligence technology, which is supported by their experience in agronomy (the study of soil management and agricultural production), in order to develop a virtual assistant that will aid farmers in increasing crop yields and crop quality.
What if you had the ability to plant a tree anywhere in the globe from your phone in under a minute? You can do this with Treeapp. Three recent London Business School graduates — Godefroy Harito, Jules Buker, and Leo Ng — founded an ultra-sustainable firm in the spring of 2019. The app will be formally launched on April 22, 2020, which happens to be Earth Day in the United States. Within its first year, it has planted 230,000 trees in various locations across the world. Through Treeapp’s collaborations with businesses and organizations across the globe that are equally passionate about sustainability as they are, customers can simply choose a forestry project to support, plant a tree, and follow the worldwide effect for free.
EcoCart is a browser extension startup firm that enables customers to offset their carbon footprints for free by purchasing carbon offsets from specified businesses using their browser extension. Customers who opt to offset their emissions using EcoCart are awarded with EcoPoints, which can be redeemed for rewards and contribute to the provision of clean water and trees across the globe. EcoCart has partnered with over 10,000 businesses, including American Eagle and Glossier. It is claimed that this eco-friendly firm, launched in 2019 by Peter Twomey and Dane Baker, has so far offset 4 million pounds of carbon dioxide (CO2) emissions, preserved more than 8,000 trees, and assisted in providing electricity to over 700 houses.
Furthermore, with the addition of $3 million in recently secured capital, it looks like this firm will be able to accomplish even more good.
4. Viva Maris GmbH
According to its website, Viva Maris GmbH is an environmentally conscious startup firm based in Schenefeld, Germany, that is dedicated to safeguarding the ocean via nutrition, education, and creating public awareness about the human influence on the ocean. In order to do this, Viva Maris GmbH develops food items that use algae, which is a very sustainable marine element. In addition to producing tasty algal products, the firm is committed to the preservation of the ocean’s biodiversity, providing work for former fisherman, and contributing in the preservation of natural marine algae.
It’s no secret that plastic pollution is wreaking havoc on our seas, land, and atmosphere. Algenesis, an environmentally friendly firm created in 2016 by Dr. Stephen Mayfield, is taking action to combat this problem. Algenesis manufactures totally biodegradable plastic from algae, which is made possible by their unique SoleicTM technology. Furthermore, in addition to being a renewable product, it is also a high-performance substance, allowing it to compete with the plastics that we now use.
Current items include footwear and hard material for surfboards, but the firm intends to extend its product line to cover a wider range of products to reduce the usage of wasteful plastics.
6. Smart Microfarms
Smart Microfarms doesn’t just grow Spirulina, which is a highly sustainable, profitable, and nutritious algae. They also grow a variety of other crops. Aside from Spirulina, this startup also manufactures scalable microfarms for use in homes, community gardens, and by entrepreneurs to grow the superfood. Their smart microfarms technology makes this type of farming accessible to even the most inexperienced algae growers, reducing the need for expert advice during production and assisting in the improvement of food security and entrepreneurial opportunities.
Watch our Business Ideas Using Algae video to learn more about the fascinating world of algae startups such as Viva Maris, Algenesis, and Smart Microfarms: Business Ideas Using Algae.
In addition to focusing on offering alternative energy sources, renewable energy company Fuergy places a high value on making this shift as simple and enticing as possible for its customers. Fuergy, which was founded in 2018 by Branislav Safarik, Radoslav Stompf, Rastislav Kuba, and Vladimir Miskovsky, aims to accelerate the process of reducing the use of fossil fuels by reducing their consumption. For consumers, the business has created “BrAIn,” which is a combination of a highly scalable hardware device and artificial intelligence-powered software that optimizes energy use and reduces energy expenses.
8. Homeboy Electronics Recycling
Kabira Stokes, the creator of Homeboy Gadgets Recycling, has provided an alternative to just putting discarded devices in the trash by offering a countrywide recycling program for used electronics. Customer devices are collected and demanufactured by Homeboy Electronics Recycling, which recovers reusable polymers, metals, and other recyclable resources from the useless products. Check out our Green Business Ideas video, which includes Homeboy Electronics Recycling and Entomo Farms, to see how it works.
9. Entomo Farms
It was in 2014 that the Goldin brothers, Jarrod, Darren, and Ryan, set out to revolutionize the food business by developing products based from an unexpected source of protein: crickets. Entremo Farms is a food manufacturing firm that produces high-nutrient products such as flour, snacks, pet meals, and protein powders that are high in protein, fiber, and minerals. Not only does Entomo Farms’ business approach distinguish itself from the competition, but their goods also contribute to the reduction of food waste and pollution, so contributing to a more sustainable future.
In contrast to other companies that are concentrating on the production of electric or hybrid cars, FuelGems has committed itself to making traditional fuels more environmentally friendly and sustainable. FuelGems, a company founded by serial entrepreneur Kirill Gichunts, manufactures a fuel additive that decreases the pollutants produced by diesel, gasoline, and biofuels, among other things.
What’s the best part? Only one to five grams of their additive are required to treat 260 liters of fuel, and with $900,000 in funding recently received by the business to develop green technology, there is plenty of room for more improvement in the future.
11. 31 Bits
A unique jewelry firm, 31 Bits is not your typical jewelry retailer. 31 Bits is a start-up company founded by five college students that sells jewelry handcrafted by Ugandan craftsmen out of reclaimed and repurposed materials. The complete education program designed by the firm for its creators, which leads in participants being able to start their own businesses in Uganda, is perhaps the most notable characteristic of this successful sustainable business venture.
12. Next Gen
Creating plant-based alternatives to animal products is the goal of Next Gen, a plant-based food firm that aims to give a solution to the environmental impact that the agriculture industry has on the environment. Following the co-founding of Next Gen in 2020 by Timo Recker and Andre Menezes, the startup claims that its chicken alternative product TiNDLE consumes 74 percent less land and 82 percent less water than traditional chicken farming while emitting 88 percent less greenhouse gases than traditional chicken farming.
Forget everything you’ve learned about ridesharing companies; Facedrive is doing things a little differently. Facedrive is dedicated to assisting communities in moving forward in a sustainable manner by providing environmentally friendly alternatives to the current ridesharing, food delivery, ecommerce, and health technology options accessible to customers. Additionally, the firm places a strong value on the well-being of its drivers by functioning as a driver cooperative, which provides higher compensation and other incentives to its employees.
Online shopping is more popular than ever before, but regrettably, this can result in an excess of trash and a rise in emissions as a result of the increased demand. Olive has taken the initiative to create a more environmentally friendly method of online shopping by partnering with brands such as Goop, Anthropologie, and Adidas to provide a single delivery option that encompasses all of the brands featured rather than shipping items one at a time from each individual brand. With the help of co-founder Nate Faust, the firm was formed with the purpose of reducing the amount of single-use packaging connected with online shopping while simultaneously providing an amazing customer experience.
With hemp now being legal in all 50 states in the United States, entrepreneurs are capitalizing on the plant’s adaptability to develop cutting-edge goods such as Hempitecture. The firm was founded by Matthew Mead with the goal of providing a sustainable alternative to typical insulating goods, and their HempWool product accomplishes that goal. HempWool, a fiber batt insulation product from Hempitecture, is hypoallergenic and comprised of 92 percent hemp fiber. It has a minimal carbon footprint and is made of 92 percent hemp fiber.
16. Coral Vita
Coral Vita is a nonprofit organization with a noble mission: to repair the earth’s dwindling coral reefs. They build high-tech coral reefs to efficiently and successfully restore coral reefs while also giving educational opportunities and functioning as an ecotourism destination.
During the course of the startup’s attempts to raise funds in order to expand and sustain their operations, they also provide an adopt-a-coral initiative to encourage potential contributors to get engaged and have an effect of their own.
17. Krill Design
In the words of the phrase “converting garbage into treasure,” Krill Design is an Italian design business that exemplifies the concept. They are most known for their flagship product, the Ohmie Orange Lamp, which is a light fixture manufactured entirely of Sicilian orange peels, making it completely biodegradable and contributing to the circular economy of the region. In order to combat the problem of food waste, this sustainable firm is developing attractive, well-designed goods out of ingredients that would otherwise be discarded.
NatureDots is an eco-startup that operates at the nexus of nature-based systems and artificial intelligence. AquaNurch, a technology developed by NatureDots, using artificial intelligence to build more sustainable fisheries that generate more money for farmers while also protecting the environment. This New Delhi-based firm, founded in 2018 by Mohammad Aatish Khan and Snehal Verma, aspires to contribute to the development of an ecologically sustainable economy via the use of nature-based and technology-driven solutions.
19. AMP Robotics
Not all recyclables are recycled, resulting in more garbage than is required and filling landfills with things that could have been used again. In the meanwhile, AMP Robotics, a business started by Matanya Horowitz in 2015, offers a more innovative solution. In order to ensure that all recyclable materials are utilized, AMP Robotics, a recycling robot firm, has created artificial intelligence (AI) technology that accurately recognizes and classifies recyclables. The quantity of trash will be reduced, but the recycling process will be streamlined, which may result in an increase the number of items that are created from recycled materials.
20. Aurora Solar
Because of the increasing need for alternative energy sources, solar energy firms are becoming more and more popular. Aurora Solar supplies solar energy firms with software that allows them to build and sell solar paneling systems to consumers who are located in other parts of the world. Moreover, with the United States government expecting to invest over $2 trillion in the solar energy business, the sky is the limit for environmentally friendly firms like Aurora Solar, which has raised $50 million in its Series B fundraising round.
Not only is CommonVCa a sustainable startup, but the company’s objective and top priority is to give resources to entrepreneurs who want to launch their own eco-friendly businesses. CommonVC, an innovation and startup studio that focuses on collective solutions to environmental concerns, was formed in 2019 by Dhruv Boruah and is based in New York City. Founded with the goal of assisting other sustainable founders in building pioneering firms that would have a positive influence on the world, this startup has remained focused on that goal from its founding.
22. Grow a Wish
Grow a Wish is a greeting card company based in the Netherlands that was started by Fabienne Overbeek, an ambitious young entrepreneur who wanted to extend the life cycle of greeting cards.
In each of the startup’s greeting cards, seeds have been embedded into the paper, which when planted will develop into a flower and a long-lasting memory for the recipient. In addition to this, the startup donates a part of its income to charity organizations and foundations.
It makes sense to utilize the power of solar energy into more aspects of one’s everyday routine. Going solar is the goal of GoSun, a sustainable firm that sells a wide selection of solar-powered items, ranging from solar-powered stoves to whole off-grid small homes. All of GoSun’s products are designed to be portable and environmentally friendly in order to allow users to incorporate solar energy into their everyday life in a more seamless manner, without losing the product’s durability or quality.
Climate change is weighing heavily on the minds of people all around the world, and many are seeking for meaningful answers to greenify their own lives in order to combat it. Joro, a technology business created by Sanchali Pal, has developed an app that users can use to track their daily purchases and discover more environmentally friendly alternatives to their current expenditures. Despite the fact that the app is still in its infancy, Jorois is committed to seeing it expand in order to equip more people with easily available tools to commit to climate action.
Launch Your Own Eco-Friendly Startup With the Help of Our Free Resources:
A number of celebrities have endorsed the Eco app, which is attracting the attention of people searching for alternatives to traditional banking methods. Photograph courtesy of shutterstock.com/CC7 You can find out all you need to know about the Eco app right here.
- Eco is neither a credit or debit card, but it is intended to serve as a substitute for both. The firm also points out that it is not a financial institution. Instead, it serves as a safe deposit box for people’s money. This enables it to lend money out in the same way that banks do, and users may earn interest on their loans. Eco, on the other hand, charges a significantly higher interest rate than banks. If you use the Eco app, you may get an APR that runs between 2.5 percent and 5 percent. In comparison, the typical savings account gives an annual percentage rate of.07 percent. Eco claims that it is able to support the higher APR because it has eliminated the middleman. This implies that users’ money will pass through fewer hands and will not be subjected to as many cutbacks. It also has a reward system, however it isn’t completely filled out at this time. Eco Points are awarded to users when they spend money, and they serve as a pseudo-cryptocurrency for the app. Several organizations have contributed to the company’s funding, which has so far raised 35 million dollars.
- Of that total, $26 million was raised in a financing round earlier this year. Diddy, Tiffany Haddish, Larry Fitzgerald, Kelvin Beachum Jr., 3LAU, and Keisuke Honda are just a few of the celebrities that have invested in the Eco app. Aside from that, it’s worth noting that Garrett Camp serves on the Eco Foundation’s Board of Directors. Camp was one of the co-founders of Uber (NYSE: UBER) and continues to serve on the board of directors for the firm. It is possible that the lack of insurance in the Eco app may turn some people away from using it. There is no Federal Deposit Insurance Corporation (FDIC) coverage for money kept in the app. CEO Andy Bromberg, on the other hand, believes that this should not be a source of concern. He makes the argument that, in the event of a bank crisis, consumers would only receive the value of their money back in full. It does not take into consideration the cash lost to inflation as well as the low interest rates offered by banks. We are still in the early stages of development for the Eco app. As a result, there is now a waiting list for users. Those who are interested can, however, sign up online to be included on the mailing list.
On the day of publishing, William White did not own any positions in any of the securities discussed in this article (either directly or indirectly), either directly or indirectly. The views and opinions stated in this article are those of the author and are subject to the InvestorPlace.com Publishing Guidelines, which are available here. InvestorPlace Media, LLC published an article in conjunction with InvestorPlace Media, LLC.
Alternative banking startup Eco raises $26 million from investors
Advertisement Eco, a personal banking start-up, revealed on Friday that it had raised $26 million in additional capital from private equity firms. The funda16z Crypto, a $300 million crypto-focused startup fund created by founders Marc Andreessen and Ben Horowitz, was the lead investor in the funding round. Coinbase Ventures, Pantera Capital, Anthony Pompliano, Blockchange Ventures, and almost 100 other high-profile cryptocurrency investors are among the other participants in the survey. Overall, Eco has raised $35 million since its founding in 2018, adding on an earlier $8.5 million investment from startup accelerator Expa and crypto-focused investment firm Pantera Capital, which helped to launch the company.
In addition, the firm provides Venmo-like features that allow users to pay bills and friends from a single wallet.
Its goal is to eliminate unnecessary processes and middlemen from financial transactions, resulting in cost savings for both consumers and merchants. Pantera Capital is a shareholder in The Block, as previously disclosed.
In today’s market, customers are just as interested in a company’s social responsibility (CSR) as they are in the products and services it provides. This is particularly encouraging news for entrepreneurs who are concerned about the environment. We’ve highlighted 23 eco-friendly company ideas that can help you make money while also preserving the environment. These ideas can help you differentiate yourself from larger corporations that use greenwashing strategies.
What is a green industry business?
A green industry firm is one that manufactures its products using environmentally friendly resources. Businesses in the green sector strive to use as little water, energy, and raw materials as possible while reducing carbon emissions, or they seek ways to utilize these commodities in a more sustainable and environmentally friendly manner. As a result of this business strategy, the company’s impact on natural resources and contribution to climate change is reduced to a minimum. Even though trash is created, it may be recycled as energy or raw material in some instances.
What is a green business model?
A classic business model specifies a company’s raw material budgets, design processes, and service delivery or product distribution systems, among other things. A green business strategy, while providing a steady stream of revenue, places a higher priority on decreasing the company’s environmental effect than on increasing profits. It may entail limiting the use of fossil fuels while encouraging the use of solar panels and other methods of dramatically reducing energy usage, for example.
How do I start a green business?
As customers have become more concerned with corporate social responsibility, an increasing number of green enterprises have developed; yet, the difficulties that climate change creates necessitate a variety of solutions. As a result, in order to launch a green business, you must first find an environmentally friendly service that is currently unavailable in your market. Then think about persons you know who are environmentally conscious and whom you might invite to join your team. See our guide on how to establish a business for more information.
What companies are eco-friendly?
Outdoor gear firms, businesses that manufacture reusable plastic bottles, eco-friendly cleaning companies, businesses that install solar panels, a local recycling business, and a variety of other prospective endeavors are examples of eco-friendly businesses to look into. Think about starting one of the 23 company ideas listed below if you want to create your own eco-friendly, green sector venture.
1. Ink refill business
Starting an ink-refill business can not only be a very successful venture, but it can also be a socially responsible one. When you consider the amount of paper that is wasted each year, it is reasonable to wonder if refilling ink cartridges is genuinely beneficial to the environment.
Reusing old ink cartridges, on the other hand, helps to reduce the amount of nonbiodegradable trash that ends up in landfills. Empty ink canisters are no longer required in the corporate sector, although paper is still required.
2. Environmental publications
Dekdoyjaidee / Getty Images is the photographer behind this image. If you enjoy writing, consider starting your own environmentally conscious newspaper. Your actions have the potential to make a significant influence in the world. You may assist customers in rethinking their activities in relation to the environment by refuting common myths and communicating the facts about the world in which we live.
3. Green finance
Green financing is concerned with assisting local, community-based projects, with a particular emphasis on environmentally friendly, environmentally sustainable agriculture. The provision of educational opportunities, funding for creative efforts, and the implementation of initiatives that benefit local ecosystem are all common concerns of green finance. Sustainability and social profitability are important concerns in green finance. While monetary profit is still vital, the purpose of green finance is to promote useful initiatives that provide value to the local community and the environment at the same time.
4. Eco-friendly retail
Consumer rewards systems are becoming increasingly popular among businesses, and e-commerce site EcoPlum is no exception. Customers earn EcoChipz for every purchase they make, which they can use to redeem for prizes or to make charitable contributions to a variety of environmental charities. As an added bonus, each product offered is certified green by a third-party organization or has an equivalent eco-label. Beyond selling things made from sustainably sourced materials, EcoPlum delivers educational content, such as monthly pieces by industry experts, local green company listings, recycling information, environmental tips, and suggestions for books, videos, and other resources.
5. Sustainable construction materials
Shoppers’ rewards systems are becoming increasingly popular among shops, and EcoPlum is no exception. Customers earn EcoChipz for every purchase they make, which they can use to redeem for prizes or to make charitable contributions to a variety of environmental organizations. A third-party green certification or an equivalent eco-label is also attached to every product sold. Beyond selling things made from sustainably derived materials, EcoPlum offers educational content, such as monthly pieces by industry experts, local green company listings, recycling information, environmental advice, and suggestions for books, videos, and other media.
6. Organic catering
Starting an organic catering company is a fantastic opportunity for eco-conscious foodies to share their enthusiasm for food and the environment with others. When you cater local events and business luncheons with cuisine made from organic and locally sourced products, free-range meats, and vegan, gluten-free, and paleo meal options, you’ll be able to appeal to both nature lovers and health and wellness aficionados.
Maintaining a low environmental effect by avoiding plastic and paper products as much as possible and composting food waste are two important guidelines to follow.
7. Eco-friendly beauty salon
If you have a passion for cosmetology, consider starting a beauty business that is Mother Nature-approved. Organic and vegan hair and cosmetics products are becoming more and more widely available. Creating an eco-friendly beauty salon is one approach to make this trend work for your business. A hair salon that uses only natural shampoos and conditioners, or a nail salon that utilizes only ecologically friendly and vegan polishes and spa treatments, are two options for you to consider.
8. Eco-friendly landscaping
Image courtesy of welcomia / Getty Images Your lawn and garden may seem beautiful after having professional landscaping done, but all of that upkeep isn’t necessarily beneficial to the environment. With a little eco-friendly advice and know-how, you can assist homeowners in making their yards more green, both physically and symbolically. The use of synthetic turf, drought-resistant plants, and strategically positioned trees may help you save water, energy, and money by creating a lawn that is more water-efficient.
9. Sustainable event planning
The images were provided by welcomia / Getty Images Your lawn and garden may seem beautiful after being professionally landscaped, but all of that upkeep isn’t necessarily beneficial to the environment. Helping homeowners make their yards greener, both physically and figuratively, is possible with some eco-friendly guidance and know-how. The use of synthetic turf, drought-resistant plants, and strategically positioned trees may help you save water, electricity, and money by creating a lawn that is more energy efficient.
10. Bicycle repair and refurbishing
It is healthier for the environment and your health to bike modest distances rather than drive long ones. Bicycles, like most vehicles of transportation, require maintenance from time to time. Your expertise in cycling might make you the go-to person for riders who want bike repairs or maintenance. It is possible to acquire affordable used bikes, repair them, and then resell them for a profit if you have some additional storage space.
11. Handmade all-natural/organic products
Common organic resources may be used to create a variety of domestic items, including soaps, cosmetics, and cleaning solutions. Everyone can make their own sugar scrub or vinegar-based cleaning solution from scratch, but if you package them and offer them in sets, your clients will have those all-natural goods at their fingers in a simple manner. A wonderful venue to sell is at local markets and festivals, or you might open an internet store.
Are you a green living specialist with a lot of experience? Start a business that provides eco-consulting services. Environmental consultants assess houses and offices and recommend changes that will make them more ecologically friendly. You may give advice to customers on how to upgrade their home appliances to more energy-efficient models or set up a recycling program for their household waste. Obtaining certification as an eco-consultant can help you further establish your reputation.
13. Farmers market vendor
Image courtesy of julief514 / Getty Images Those with a green thumb now have a fantastic opportunity to make money by selling non-GMO, pesticide-free fruit at their local farmers market, thanks to the organic movement. Selling organically grown fruits and vegetables provides you a significant edge over competitor producers that rely on traditional agricultural practices, such as pesticides, to produce their produce.
It is possible that you will need to be approved and/or certified by your local board of health before you can start selling.
14. Green housekeeping services
Cleaning the house often go to the bottom of the priority list for parents who work full-time. By marketing yourself to customers as the environmentally friendly solution to their housekeeping problems, you can provide services ranging from light dusting to more intensive tasks such as kitchen and bathroom cleaning, all while using only approved all-natural and environmentally friendly cleaning products. You may either charge an hourly rate or construct your own service bundles for a one-time payment.
Before you advertise to strangers, you should first establish a trustworthy reputation among those you know.
15. ‘Upcycled’ furniture
You should keep your old, damaged furniture instead of throwing it away. Chairs, tables, and dressers may be disassembled and reassembled into new parts that can be painted and sold with the use of basic templates and power tools. Shelving and storage units are simple to construct from wood scraps, and depending on the item in question, you may even be able to completely repair a unique and precious piece of antique furniture. Instead, you might reupholster existing chairs and couches to give them a new lease on life.
16. Green franchises
Do you want to operate a firm that already has a strong brand and client base in place? The solution may lie in the purchase of a franchising business. While many people associate franchising with fast-food restaurants and hotel chains, there are numerous eco-friendly franchise enterprises to choose from.
17. Secondhand store
Photograph courtesy of gabe9000c / Getty Images New products are often expensive, and over time, those prices begin to accumulate. To give you an example, a new book can cost anywhere from $15 to $30, but a used book is generally only a few of dollars. Making the decision to open a secondhand business not only saves your clients money, but it is also beneficial to the environment. Allowing customers to give their used products to you instead of throwing them away will allow them to help someone else get something useful out of their old items.
18. Green consulting
Photograph courtesy of gpointstudio / Getty Images Whether it’s to save money on energy bills or to reduce their carbon footprint, businesses are under increasing pressure to embrace green practices, and this demand will only rise in the future. According to business sustainability specialist Barbara Englehart, organizations that go green reap a variety of benefits, including lower costs, fewer risks and liabilities, and better staff retention and productivity. “This is all very new in the business world, and organizations want assistance,” Englehart said in an interview with Business News Daily.
19. Solar panel installation
Many environmentally conscious homeowners have already placed solar panels on their roofs, and many more would want to do so.
If you know how to accomplish this, you should consider offering it in your region.
20. Eco-friendly cleaning
Most common cleaning products include chemicals that pollute the environment and injure humans and pets that come into touch with them, according to the Environmental Protection Agency. Starting an environmentally friendly cleaning business can help to alleviate this problem. The materials you use in your eco-friendly cleaning business can be totally nontoxic, or you can choose brands that reduce their usage of single-use plastics. By reusing greywater whenever feasible, you may further reduce the environmental effect of your firm.
21. Reusable plastic bottles
One thing is undeniable: single-use plastics are a major source of worry for environmentalists today. By creating a green sector firm that develops, manufactures, and sells reusable plastic bottles, you can provide consumers with a convenient option to drink water on the move while not contributing to plastic pollution. Investigate the use of alternative materials such as metal or glass, bottles produced from recycled plastic, or renewable polymers made from ingredients such as corn starch or sawdust as alternatives.
22. Environmental impact and carbon emissions lessons
Many individuals aren’t aware of how much carbon dioxide their everyday activities create, or of the impact their actions have on the environment, and how much of a negative impact those activities have on the environment. Provide seminars to inform the public on how behaviors like as driving, using air conditioning in the summer, leaving lights on needlessly, flying, and other activities contribute to greenhouse gas emissions. You may also educate individuals on how to minimize the negative influence of their actions on the environment.
23. Local eco-friendly recycling business
Despite the fact that many individuals are aware of the amount of carbon emissions produced by their everyday activities and the impact those actions have on the environment, many people are unaware of how much carbon emissions they create. To educate the public on how driving, using air conditioning in the summer, leaving lights on needlessly, and other actions contribute to carbon emissions, classes should be offered. – You may also educate individuals on how to minimize the negative influence of their actions on the surrounding environment.
More business ideas
Are you looking for more business inspiration? Look explore some of these other excellent business concepts. Sammi Caramela contributed to the reporting and writing for this piece, as well as to its publication.
How This Fintech Startup Scored Investments From Major VCs And Celebrities
Chief executive officer of Eco is Andy Bromberg. Bloomberg Finance LP (Bloomberg) is a financial information company. “Eco is not a bank.” — this is a repeating statement on the website of Eco, a three-year-old business that is developing a personal financial app that allows users to save and spend money. Eco, on the other hand, accepts deposits, loans them out at high interest rates, and provides consumers with savings accounts that earn 2.5-5 percent interest. It also does not want to be perceived as a bitcoin firm, despite the fact that its income model is directly dependent on the unpredictable cryptocurrency market.
And when you’re starting from scratch, as Eco is, there aren’t necessarily the greatest terms to describe what you’re doing,” says Andy Bromberg, Eco’s chief executive officer.
Announcing previously unknown celebrity investors from sports, entertainment, and business, including Sean “Diddy” Combs and Kevin Durant, as well as Justin Blau (better known by his stage name 3LAU), the firm made a big splash today.
In private beta mode, an early version of the app is already available to selected users who have been onboarded selectively through one-on-one interactions with the developers.
Eco has previously secured more than $8.5 million in funding, with the majority of the funds coming from Pantera Capital and Expa, a startup studio created by Uber co-founder Garret Camp. Camp, who was one of the company’s founding fathers, continues to serve as an advisor to the company.
What does Eco provide?
In addition to a digital wallet that pays 2.5 percent rewards on deposits and up to 5 percent on friend referrals, the company offers 5 percent cashback at merchants such as Amazon, Uber, DoorDash, and, most recently, Instacart, among others. Savings account returns are much higher than the national average interest rate for savings accounts, which was 0.07 percent in March, according to Bankrate’s calculations. Citi and Marcus by Goldman Sachs are the banks with the highest annual percentage yields, both of which are 0.5 percent.
Wire transfers are also possible for significant amounts if necessary.
While this is good business for them right now, if loan demand slows or if new rivals join the scene, they may be forced to cut their interest rates.
Bromberg told Forbesthey that Magazine do not intend to do so (reduce rates) and do not expect a necessity for such a measure: “We’ve worked through a number of situations and are confident in our ability to deliver these yields.” There has been precedence for firms to reduce their interest-payment yields in the past.
Bromberg was formerly a co-founder of CoinList, a cryptocurrency platform that facilitates the selling of cryptocurrency tokens.
According to Bromberg, an early cryptocurrency bull who commented on the Wednesday crypto drop, “This is a movie I’ve watched before.” It simply ceases phasing you at a certain point.
TOP 20 ideas of technological eco-business: why eco-business is relevant and what its advantage is
In addition to a digital wallet that pays 2.5 percent rewards on deposits and up to 5 percent on friend referrals, the company offers 5 percent cashback at merchants such as Amazon, Uber, DoorDash, and, most recently, Instacart, as well as other services. As reported by Bankrate, these rates are significantly greater than the national average interest rate on savings accounts, which was 0.07 percent as of March. Citi and Marcus by Goldman Sachs are the banks with the highest annual percentage yields, both at 0.5 percent per annum.
- It is also possible to make significant deposits through wire transfer.
- If loan demand diminishes or new rivals enter the market, while this is excellent business at the moment, it may compel them to cut their interest rates.
- – We don’t intend to (reduce rates), and we don’t expect a necessity for it, according to Bromberg.
- There has been precedence for firms to reduce their interest-payment yields.
- The cryptocurrency platform CoinList, which facilitates token sales, was co-founded by Bromberg before.
According to Bromberg, an early cryptocurrency bull who commented on the Wednesday crypto drop, “This is a movie I’ve already watched.” It just ceases phasing you over a period of time. ‘It appeared to be past due.’
- Your product or service provides a solution to an environmental problem
- When designing a product, keep the product’s life cycle in mind. When your product’s expiration date is approaching, how will it be recycled? Obtain an environmental certification. Do not engage in greenwashing, which is a marketing technique that deceives the buyer by portraying a product as environmentally beneficial without providing proof. The inclusion of non-existent environmental labels on packaging, as well as bio- and environmental prefixes, are examples. Reduce the amount of paper used in office work or refuse to use it altogether. Purchases that are ethical. Your supply chain should be transparent, with no hidden ethical or environmental costs
- It should also be cost-effective. Organize a green office (one that is ecologically friendly) or work from home
Look at the top 20 breakthrough concepts in technology eco-business today, illustrated by real-world startup cases. 1. Renting an electric vehicle Facedrive Facedrive is a Canadian-American rival and alternative to Uber and Deliveroo, and it is the only one to provide a “sustainable” console. The firm provides a car-sharing service that includes «green» and hybrid vehicles, as well as a tree-planting project to offset carbon emissions (which can be tracked using the company’s application). Renting electric vehicles is now possible through the Steerapp, which was developed by the firm.
Face drive is going to launch in Europe, and it is certain that this firm will be successful in a market that welcomes innovative alternatives to traditional automobile ownership.
Wonderfilliquid products are delivered using intelligent dispensers.
It is a service that provides intelligent metering for liquid and cream goods.
Suppliers who use Wonderfil technology save money on packing while also lowering their carbon footprint.
The recycling cycle is demonstrated to consumers by the UK firm TeknTrash, which also provides environmentally friendly garbage disposal.
According to the startup’s creators, poor recycling of garbage causes even more damage to the environment than its absence: it creates methane gas, which is 80 times more powerful than CO2 and has the potential to trigger global warming.
The business developed its own container disposal facility, which consists of a gadget that captures data on use.
‘Beyond Meat’ is a foreign unicorn business that makes veggie protein mimics of meat products (both in terms of nutritional attributes and aesthetics) that are nutritionally equivalent to meat.
According to company statistics, the Beyond Burger consumes substantially less water, land, and energy than a traditional beef burger does.
In addition, according to Grand View Research, the vegetable protein industry is expected to increase at a rate of more than 19 percent per year until it reaches $13.8 billion by 2027.
The company manufactures not only batteries and batteries alone, but also complex solutions for power supply of a wide range of systems, ranging from motorcycles and mountain cars to ferries and other vessels.
Several investors, including Daniel Elka (creator of Spotify), Volkswagen, and Norrsken Venture Capital, have expressed interest in this firm.
Robots that recycle wasteAMP Robotics, Inc.
According to the business, there are several precious materials in landfills that are worth more than $200 billion in value.
However, they are not always repurposed: The point of returning metal for $0.5 if it costs $1 is lost on the buyer.
The robotic devices developed by AMP Robotics sort recyclable materials at a tenth of the cost of conventional technology, according to the company.
The Italian firm Krill Design develops composting lights and Ohmielamps out of orange skins that are similar in form and feel to oranges, as well as other fruits and vegetables.
The startup also works with other types of waste, such as coffee grounds, seeds, peels, and the shells of nuts.
There will be no cardboard or plastic in the packaging anymore!
Nate, the creator of the startup, points out that Americans have been receiving their items wrapped in powdered paper and packaged in cardboard boxes for over two decades.
With its purpose to minimize the quantity of cardboard and plastic used in online shopping, the firm hopes to accomplish this goal.
9.Algenesisalgae is a kind of plastic.
The Sole TM technology, which is a 100% biodegradable plastic created from algae, has been patented by the firm.
It is possible to use algae oil as a raw material for the manufacturing of polyurethane monomers, which are chemically identical to petroleum monomers in composition.
Carbon dioxide capture technology in carbominer greenhouses is number ten.
Installation of a particular module for the absorption of carbon dioxide in greenhouses is done by professionals.
Second, it contributes to the prevention of climate change by eliminating carbon dioxide from the environment.
An application for decreasing the carbon footprint in Greenlycompanies was developed in 2011.
An important feature of Greenly is the automation of carbon emissions analysis, which is accomplished by the utilization of data available through the API, such as accounting or payment information from significant greenhouse gas emitters.
tttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttt Zume is a startup based in the United States that specializes in the creation of food packaging using cost-effective plastic packaging alternatives.
Now, the corporation is actively collaborating with the robotics startup ABB, which provides the technology.
Solar panel installation cost estimation platform (version 13.0).
Aerial photography is used by the American firm Aurora Solar to evaluate solar-energy installations on the ground.
Based on their calculations, the startup’s founders determined that the service of installing solar panels is not financially profitable because the cost of the solar panel itself accounts for half of the entire cost, and the remaining half is spent on measuring, delivery, and installation.
More than 5 million solar energy systems have been developed using the platform.
The use of solar energy in heavy industry Heliogen Heliogen is a renewable energy source that does not rely on fossil fuels.
Each solar light reprocessing facility has the potential to prevent more than half a million tons of CO2 from entering the atmosphere.
This is the sort of heat necessary for the production of cement, steel, and minerals, all of which are products that are commonly derived from fossil fuels.
The emission algorithm developed by Joro makes use of your purchasing data to automatically calculate your specific carbon footprint.
For example, if you spend $30 on petrol, the carbonizer calculates your carbon footprint by taking into consideration the price of gas in your location as well as the carbon intensity of the fuel you use.
Organic fertilizer for the treatment of soil pests Holganix In the United States, the Holganix Corporation has created an environmentally friendly alternative to insecticides.
The idea of the organization is built on taking a complete approach to pest management and extermination.
The firm is working hard to attain the worldwide “green” target that it has set for itself as part of its mission statement.
Cirrus Cirrus, a French firm, allows you to conserve anywhere from 45 percent to 75 percent of the water you use when taking a shower.
The system is compatible with a variety of shower systems.
Recycling of consumer electronics is number 18 on the list.
The firm is involved in the repair and disposal of electronic equipment originating from the American public.
The firm recycles the electronics into recyclable polymers, metals, and other environmentally friendly products that may be reused.
Vertical Organic Farms (no.
Vertical farming is being developed in industrial facilities or on intellectual farms as part of this effort.
The startup keeps track of the whole product journey, from the seed to the final delivery to the retailer.
The long-term viability of conventional fuels FuelGems While other firms are focused on creating renewable energy sources, Fuel Gas is focusing on conventional fuels such as diesel and gasoline to produce electricity.
A 50% reduction in the release of unburned hydrocarbons and other dangerous solid particles is achieved at the same time as the reduction in emissions.
Additionally, fuel economy has improved by 9 percent. When traditional fuels are used, the startup’s goal is to reduce the amount of pollution caused by exhaust emissions.