Tech firm lands £200k fund boost

A CLIMATE-TECH founded by two Durham University graduates has secured £200,000 in private equity finance to boost its development.

- GRAEME WHITFIELD

Feasibly, which was founded by Beth Holloway and Leo Thomson, aims to transform planning cycles for renewable energy projects through the use of an Al-powered geospatial platform that aims to remove bottlenecks in the planning process.

It has secured funding from PraeSeed, a new programme that is part of the Northern Powerhouse Investment Fund II (NPIF II). The new investment brings Feasibly's total funding to more than £500,000, including two foundational R&D grants from Innovate UK.

The company says its technology can replace the months of manual data analysis, spreadsheets, and consultant reports. It hopes to help remove obstacles and delays in renewable energy projects, helping the UK's drive towards net zero.