The Capsule B-Corp 30 2024
If there’s one thing scale-ups all have in common, it’s the pursuit of progress. But what if progress could be measured not just by profit, but by purpose? Welcome to the world of B Corporations, where success is about more than your bottom line – it’s about making a positive impact on the world.
As a proud B Corp ourselves, Capsule is deeply invested in supporting and recognising fellow businesses on a similar journey. It’s why we’re delighted to present the second edition of our B Corp 30: Sustainable scale-ups to watch 2024 list.
This round-up represents the vanguard of the B Corp movement. From renewable energy innovators to ethical fashion pioneers, these companies are proving that profit and purpose can go hand in hand. By highlighting their achievements, we hope to inspire others to join the B Corp ranks and ultimately harness the power of business as a tool for good. Together, we’re not just rewriting the rules of business – we’re reimagining what’s possible.
So, what sets B Corps apart? It’s simple: they’re committed to people and the planet. In the words of Henry Philipson, Marketing & Comms Director at Beringea, President of ESG_VC, and a member of the Capsule B Corp 30 judging panel: “The B Corp 30 showcases impactful scale-ups driving growth and innovation; they’re a testament to what can be achieved through mission-driven focus.” These companies don’t just talk the talk – they walk the walk, prioritising social and environmental responsibility alongside profitability. It’s a game-changing approach that’s reshaping industries and redefining success.
At Capsule, for instance, we’re not just an insurance broker. We’re architects of modern insurance, dedicated to empowering the companies of tomorrow. Our unique Environmental, Social, and Governance (ESG) Index leverages cutting-edge data analytics so that we’re able to reward conscious businesses for their commitment to sustainability and social impact. With us, they can secure attractive deals with insurers as a token of appreciation for their dedication to making a difference. On this note, Capsule’s Marketing Director and B Corp 30 panel judge Victoria McDonnell says: “It’s great to see pioneering founders persevere and confront obstacles head-on in their pursuit of impactful, sustainable growth.”
Nicoleta Voicu, Head of Sustainability at Cooper Parry and fellow B Corp 30 panellist, shared her delight at partnering with the Capsule team to unveil this list: “These companies are making a meaningful impact on people, planet, and profit alike. We look forward to cheering them on as they continue to thrive and support one another, driving positive change in the business world.”
Without further ado, let’s take a look at the B Corps that you’ll be hearing a lot more from in 2024.
The future starts here…
Abatable
Allow us to introduce you to Abatable. Abatable was established in 2021 by co-founders Valerio Magliulo and Maria Eugenia Filmanovic, and achieved B Corp status in 2023. Abatable is on a mission to enable all organisations to build a thriving future for climate, nature, and people. It does this by developing the tools that organisations need to confidently navigate carbon markets and find the right partners, understand market risk, and amplify their planetary impact. Abatable’s solutions are enabled by technology and powered by people, making the company a trusted guide for organisations looking to take action within the complex and evolving carbon markets. Following a $13.5 million investment from Azora Capital in April 2023, the climate SaaS acquired Ecosphere+ – solidifying its position as a leading solutions provider for the carbon markets.
Algbra
Algbra, a pioneering fintech, aims to provide everyone with access to ethical and sustainable financial services worldwide. Calling itself “not a bank, but a movement”, the team combines state-of-the-art technology and a community-first approach. Algbra became the UK’s first FCA-authorised, ESG and Sharia-compliant B Corp in August 2023 – with an impressive impact score of 122. Having secured over £13 million in funding from notable investors including SC Ventures and SFC Capital, Algbra is poised to revolutionise the financial landscape, prioritising ethical principles alongside innovation.
Altruistiq
Altruistiq is a carbon analytics platform that enables businesses to easily automate sustainability data measurement, management, and exchange. With a focus on industries like food, retail, and fashion, the three-year-old firm offers data-driven insights and CO2 reduction solutions. Its impactful journey includes a £15 million seed round led by Molten Ventures in July 2022, followed by B Corp certification in September 2023 – with a remarkable impact score of 103. Backed also by Norrsken VC, this SaaS is firmly positioned at the forefront of sustainable innovation.
Ancient + Brave
Ancient + Brave takes ancient knowledge of ingredients and lifestyle and pairs it with brave innovation to create a new generation of wellness products. Founded by media lawyer and entrepreneur Kate Prince in 2018 and based out of Uckfield in East Sussex, the ethical consumer brand’s products are stocked in 22 countries in the likes of Selfridges, Harrods and Planet Organic. With a significant investment of £7 million in November 2023 – including £4 million from Piper Private Equity – Ancient + Brave has experienced exponential growth. Notably, at the end of 2023, the brand surpassed 700% growth – achieving a turnover of £10 million. Ancient + Brave operates a team of 45 staff, 95% of which are female. With a remarkable impact score of 107, they’re a leader among wellness brands.
Applied
Applied is transforming recruitment while prioritising fairness, quality, and inclusivity under the leadership of female CEO Khyati Sundaram. Rooted in behavioural science, its platform combats bias and enhances diversity in hiring processes – identifying often overlooked talent through anonymised applications and skills-based assessments. Since January 2024, the SaaS provider has been the proud owner of £5 million in funding, B Corp status, and an impact score of 103. Leading investors such as Angel Academe and Blackbird Ventures are steadfast supporters of Applied’s innovative approach to hiring.
Better Nature
Better Nature is on a mission to supercharge the protein of the world using tempeh. Tempeh is an Indonesian food that's been around for hundreds of years, made using fermented soybeans and water, which has around 20g of protein per 100g while also being packed with fibre and gut-friendly prebiotics. With its range of plain and marinated tempeh, Better Nature is already sold in Tesco, Asda, Whole Foods, Planet Organic and Mindful Chef and it donates 1% of all its sales to address malnutrition in Indonesia. With a successful pre-Series A funding round in November 2023 and support from notable investors like Growthdeck and Ascension Ventures, Better Nature is focused on establishing itself even further in the UK and expanding into Europe. With a goal of getting 100 million people eating tempeh by 2030, that's only the beginning.
Bike Club
If only your kids’ bikes grew as fast as they do… Well, we’ve got news for you. With Bike Club, they can! Europe’s premier subscription service for children’s bikes, this consumer-sharing startup is on a mission to make cycling accessible and eco-friendly for families. Bike Club’s flexible contracts allow users to exchange bikes as their children grow, with affordable monthly payments and no upfront costs. Powered by an incredible £37 million in funding from the likes of Circularity Capital and TriplePoint Capital in 2022, Bike Club rapidly expanded, debuting in Germany in the same year. A year later, founders James Symes and Alexandra Rico-Lloyd further cemented Bike Club’s position by acquiring Bicircular, another bike subscription platform based in Barcelona.
Bikmo
It’s a wheelie good time (sorry) to be a cyclist – next on the list is Bikmo, a Chester-based bicycle and e-mobility insurance provider protecting over 80,000 riders. Renowned for its partnerships with industry giants like British Cycling and Brompton, Bikmo isn’t just an insurer – it’s a guardian of the two-wheel lifestyle. Backed by leading investors like Puma Private Equity and the Development Bank of Wales, Bikmo’s recent £3.4 million funding injection reflects its relentless drive for growth. And having held B Corp certification since 2019, with an impact score that’s jumped up from 84 to 97, Bikmo is redefining insurance with purpose.
Bio&Me
Put your hands together for Bio&Me, a powerhouse in gut health innovation with coveted shelf space in Sainsbury’s, Waitrose, and Ocado. This conscious consumer brand was founded in 2019 by The Gut Health Doctor Dr Megan Rossi – as well as commercial and marketing extraordinaire Jon Walsh, whose resume includes some of the UK’s best-known FMCG brands, such as John West and Nestlé. Based in Chester and recognised as a B Corp since April 2023, Bio&Me has swiftly risen to prominence, offering a diverse range of granolas, porridges, and live yoghurts. Notable backers include footballer Harry Kane and FMCG luminary Giles Brook.
Cognassist
Cognassist is a leading platform providing cognitive support in education and the workplace. Having assessed over 220,000 individuals to date, the healthtech is bringing new light to neurodiversity and helping people understand how they think. In April last year, Cognassist secured a £4 million investment led by Gresham House Ventures, facilitating its expansion from the education sector into the enterprise market; by August 2023, the team achieved B Corp certification, with an impact score of 108.
Daye
Daye is a female-founded gynae health start-up on a mission to close the gender health gap for good. Daye started out with the invention of the world’s first pain-relieving tampon, designed to support the 90% of women who experience menstrual cramps. After helping over 100,000 patients individuals kick period pain to the curb, they launched their second-generation tampon to facilitate the at-home detection of vaginal infections, STIs and HPV. In addition, they have developed a virtual Period Pain Clinic, aimed at speeding up the diagnosis of conditions associated with period pain (e.g. endometriosis), and the creation of personalised pain management plans for individual patients, combining pharmaceutical and holistic treatments. They are developing solutions for under-served gynae health conditions like endometriosis, PCOS and menopause. Within the next five years, Daye will build an ecosystem where every woman can understand, monitor, and improve her health from her smartphone.
Double Dutch
Founded by Dutch twins Raissa and Joyce de Haas, Double Dutch is the premium drinks brand changing the game for mixers and tonics. From its London headquarters, the brand has rapidly expanded across the globe and now reaches 45 countries through online channels and partnerships with esteemed only mixer partners like Soho House globally, Zuma, Roka, Dishoom and Chewton Glen. With a remarkable 60% distribution growth in 2022, in addition to £10 million secured in funding, Double Dutch has certainly carved out a space in the beverage industry – even the Heineken family agree! Along with its B Corp status, Double Dutch’s impactful initiatives include having cut down plastic use by 30% since 2021, as well as reducing food waste.
ev.energy
Cleantech ev.energy develops eco-friendly, cost-effective electric vehicle (EV) charging solutions. B Corp certified since 2020, the company increased its impact score from 89 to 112 in 2024. Its cutting-edge software seamlessly integrates with a wide range of EVs and chargers, optimising charging processes for utilities and consumers alike. By incentivising charging at grid-friendly times, ev.energy empowers users to save money while reducing their carbon footprint. Backed by a $33 million Series B funding round in July 2023 and supported by prominent investors such as National Grid Partners and Aviva Ventures, ev.energy is expanding rapidly across North America and Europe. In February this year, the team received a $41 million grant from the California Energy Commission, further supporting its plans.
Fussy
On a mission to eliminate single-use plastics from our daily routines, Fussy has already made significant waves in the personal care industry. It offers eco-conscious deodorants in a plant-based container with compostable refills made from waste sugarcane pulp. With over one million units sold to date, it’s clear that its message resonates. Supporters of the Fussy movement include prominent figures such as Dragons’ Den’s Peter Jones and Deborah Meaden. Fussy also secured additional funding from Velocity Capital last year.
Huel
Co-founded by serial entrepreneur Julian Hearn in partnership with James Collier in 2015, Huel is a leading provider of nutritionally complete, eco-friendly food solutions – offering plant-based powders, drinks, and snacks tailored for the modern, busy consumer. B Corp certified since June 2023, Hertfordshire-based Huel has since secured a significant investment in October 2023 from Morgan Stanley as part of its commitment to invest in companies that aim to collectively avoid or remove one gigaton of carbon dioxide-equivalent emissions from the Earth’s atmosphere. Led by CEO James McMaster, the consumer brand has also attracted the attention of acclaimed actor Idris Elba, and its remarkable growth saw sales increase to £184 million last year – an almost 30% rise.
HURR
Consumer sharing economy startup HURR is making luxury fashion more accessible and sustainable. The brainchild of visionary founder Victoria Prew, the platform provides circular fashion solutions. Originally a peer-to-peer rental platform, it has since evolved into a premier provider of rental services for esteemed brands such as Mulberry and Net-a-Porter. With sustainability stitched into its values, HURR achieved B Corp status in June 2022, setting itself apart as a pioneer of responsible fashion. A recent injection of $10 million in funding from the likes of Praetura Ventures and Octopus Ventures will facilitate HURR’s mission to meet the growing demand for eco-conscious style solutions worldwide.
Intelligent Growth Solutions
Operating out of Bonnie Scotland, Edinburgh-based Intelligent Growth Solutions (IGS) is the creator of up-to-the-minute vertical farming technology. With customers situated around the globe, the agritech enables growers to scale production to meet demand; its successful crop portfolio includes more than 40 root, fruit, and leaf crops so far. IGS gained B Corp status in August 2022, and a subsequent £22.5 million Series C fundraise – backed by investors including COFRA Holding AG – catapulted its global expansion. In partnership with ReFarm, IGS has plans to embark on a groundbreaking venture to establish a 900,000 sq ft farm in the UAE, aiming to recycle food waste and reduce food imports.
Kelpi
Kelpi is a Bristol-based climate tech innovator committed to providing better, more sustainable packaging solutions. By replacing fossil fuel plastics with fully biodegradable alternatives made from renewably sourced materials like seaweed, Kelpi is working towards a cleaner future free from toxins and microplastics. Notable investors such as Science Creates Ventures, Green Angel Syndicate, and Bristol Private Equity Club, recognise Kelpi’s potential – with the team wrapping up a successful £2.4million seed funding round in December 2022 and a further seed 2 round closing very soon.
Kelpi earned B Corp certification at the end of 2023 and is gearing up to a commercial launch in 2025 to bring sustainable packaging to the forefront of the food and drinks, and cosmetics & personal care industries.
Lucky Saint
Next up is a name you might have seen on supermarket shelves. Lucky Saint is a trailblazing alcohol-free beer brand quenching the beer connoisseur’s thirst for healthy alternatives that are just as refreshing. With a steadfast commitment to doing business for good, Lucky Saint has proudly held B Corp certification since November 2022. A £10 million funding injection in early 2023 from esteemed investors including the likes of Beringea and JamJar Investments bolstered the consumer brand on its mission to continue redefining customer expectations, and the team saw revenue more than double in both 2022 and 2023. Cheers to you, Lucky Saint!
Modo Energy
Modo Energy is a leading SaaS platform specialising in data analytics for battery energy storage systems. Proving its dedication to sustainable practices, the company achieved B Corp accreditation in August 2023. Now, following an impressive $15 million Series A round led by MMC Ventures, Modo Energy is poised for global expansion – targeting the US and European markets. Other notable supporters include Triple Point Ventures, Fred Olsen, and Catalyst Capital.
Notpla
Another cleantech tackling the problem of plastic waste is Notpla, a packaging solutions startup that “makes packaging disappear”. Crafted from an innovative mixture of seaweed and plants, Notpla’s revolutionary biodegradable material breaks down in a matter of weeks, naturally. With over £15 million in investments and grants, including a £1 million Earthshot Prize, Notpla is getting noticed globally. Its journey includes a royal visit from Prince William in 2023, followed by its crowning as a certified B Corp. Notpla is partnered with leading investors including Astanor Ventures and Horizons Ventures. Next on its to-do list is stateside expansion!
Oxwash
Reinventing the laundry landscape, Oxwash has firmly held on to its title as a sustainable industry leader by pioneering sustainable practices, such as utilising renewable energy sources, optimising water usage, implementing RFID tracking systems to reduce textile waste, and employing biofuels in their logistics, resulting in significant reductions in greenhouse gas emissions and water consumption while fostering diversity and equity in the workplace. It has gained the support of influential investors including Holly and Sam Branson as it paves the way for a future where sustainability and innovation go hand in hand, setting a new standard for responsible business practices.
Scrumbles
We all want the best for our furry friends – and so does Scrumbles, a leading provider of nutritious pet food. Led by passionate husband-and-wife team Jack Walker and Aneisha Soobroyen, Scrumbles’ commitment to dishing up high-quality, gut-friendly grub for your four-legged family members has earned the brand sought-after listings in major UK retailers like Tesco, Waitrose, and Pets at Home. And with a recent £6 million investment from BGF Growth Capital, along with B Corp recertification, its impact continues to grow – last year saw the brand generate a staggering £8.3 million in sales.
Sero
Headquartered in Cardiff, Sero is an indomitable force in the world of sustainable living. The company specialises in helping turn houses into net zero carbon homes through planning, financing, execution, and ongoing operation. Significant investments from VCs such as Hodge Bank and Legal & General Capital underscore the industry’s recognition of Sero’s innovative approach. Sero earned its B Corp certification in 2021, and with an infusion of £6 million in capital in April 2023, it continues to lay the groundwork for a greener future.
smol
Founded by former Unilever employees Paula Quazi and Nick Green, smol is a disruptive force in the laundry and home cleaning markets. Committed to sustainability at every level, it offers innovative, concentrated cleaning products that outshine mainstream brands in both effectiveness and eco-friendliness. Its $34 million Series B raise in 2021, led by Eight Roads Ventures, catapulted its product development and market outreach, while achieving B Corp certification in 2023 outlined its dedication to ethical business practices. Also supporting smol on its journey to redefine the standards of clean living are GV, Latitude Investment Management, Balderton Capital, and JamJar Investments.
As creators of the industry-leading Social Value TOM System™, hosts of the annual Social Value Conference and founding members of the National Social Value Taskforce, Social Value Portal lead the responsible business agenda. Their cloud platform, consultancy, and support services offer bidders, buyers, and businesses the complete solution to measure, manage, and report validated Social Value. Officially certified as a B Corp in 2022 with an impact score of 114, Social Value Portal galvanises change, and is committed to delivering £100 billion of Social Value by 2026.
SURI
A portmanteau of ‘sustainable rituals’, SURI is improving our daily habits with its delivery of the world’s first ever fully sustainable electric toothbrush. Its flagship product, an electric toothbrush crafted from plant-based materials with a slim aluminium body designed to be repaired, serves as a reflection of its sustainable values. Backed by leading investors including Hambro Perks, JamJar Investments, V3 & dmg, SURI has generated £8 million in funding to date – furthering its innovative journey. The brand has been part of the B Corp community since April 2023, positioning itself as a frontrunner in the conscientious consumer market.
THIS
THIS™ was founded by former meat fanatics Andy Shovel and Pete Sharman in 2019, and is on mission to lead a revolution with its ridiculously delicious and nutritious plant-based food. Pioneering plant-based alternatives tailored for meat lovers, THIS™ quickly gained popularity – with its sales soaring to £13 million soon after the brand achieved B Corp status in 2022. THIS™ then attracted the attention of prominent investors including BGF and Backed VC, and secured a Series B funding round of £15 million in early 2023. ITV also joined forces with THIS™, investing £4 million of advertising inventory for a minority equity stake. The West London HQ'd company is the largest independently owned meat-alternative brand and as it stands is the third largest brand in the plant-based category overall. Embracing innovation and sustainability in equal measure, THIS™ is certainly succeeding in redefining the culinary landscape.
Wildanet
Led by CEO Helen Wylde’s mission to bridge the digital divide, Wildanet is bringing super-fast, full-fibre broadband to Cornwall and the South West. Boasting download speeds of up to 900 Mbps, Wildanet is rapidly expanding its full-fibre gigabit network across rural Cornwall and Devon – achieving B Corp certification with a respectable impact score of 106 along the way. Invested in the broadband provider’s aims (literally) are Gresham House Ventures and Cornwall & Isles of Scilly Investment Fund. Wildanet’s transformative approach fosters socio-economic growth, connecting communities and businesses to essential online services.
YuLife
YuLife specialises in group health and life insurance with purpose. The tech-driven insurance firm rose to prominence in July 2022, with a staggering £100 million Series C funding round led by Dai-ichi Life Insurance setting the wheels in motion for its global expansion. May 2023 saw the YuLIfe achieve another monumental milestone: becoming the first group risk insurer to attain B Corp status. With a line-up of other notable investors including LocalGlobe, Target Global, and more, YuLife is certainly set to make a meaningful difference in people’s lives.
Meet the judging panel: ESG experts behind the selection process
That’s a wrap on 2024’s edition of the B Corp 30: Sustainable scale-ups to watch list. With a judging panel comprised of ESG leaders – among them Capsule’s own Victoria McDonnell; renowned research expert Ying van de Walle, Head of Research for the Sunday Times 100; ESG_VC President Henry Philipson; and Nicoletta Voicu, Head of Sustainability at Cooper Parry – every contender underwent rigorous evaluation against stringent criteria.
Congratulations to all of the remarkable businesses that earned a spot – keep doing what you’re doing. We look forward to witnessing the impact you’ll continue to make on the fast-growth landscape and beyond.
Get recognised for your impact
If you’re ready to elevate your own impact and use business as a force for good, we urge you to explore the possibilities of becoming a B Corp if you haven’t already. It’s more than just a certification – it’s a declaration that your company isn’t content with business as usual, and aspires to make a meaningful difference in the world.
In the meantime, reach out to us to get your commitments to robust ESG principles recognised by insurers.