A new entity called ��has raised a $400 million Series A with the goal of “future proofing” infrastructure through technology.
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This news caught our attention for more than one reason. First of all, the obvious. It���s not often you see such massive Series As. Secondly, this company was just formed last August and has already raised a massive amount of cash (Form D ). And it has raised it from some big names: and .
So we did some digging. First off, Sidewalk Infrastructure is not a typical startup. It���s actually a 15-person holding company that is a spinoff of Alphabet���s Sidewalk Labs, according to Fortune, which broke the funding news. As mentioned above, the New York-based company says its mission is to ���future proof��� infrastructure through technology. Its goal is to build, own, operate and invest. And it���s focused on mobility, energy, water and waste, and digital infrastructure.
Google veterans Jonathan Winer and Brian Barlow are co-CEOs of SIP, which aims to ���pioneer technology-enabled infrastructure to transform urban life.���
On its website, SIP notes that it takes a hybrid approach to opportunities it pursues. It owns, acquires and invests both in large-scale, technology-enabled infrastructure projects and in the companies that develop the underlying technology. It then convenes investors, policymakers, academics and technologists ���to attack a challenge from all perspectives��� before deploying capital on solutions.
An example of a company that it has backed so far, according to 蹤獲弝け data, is . The startup, which claims it creates robotic systems that sort recyclable material at a fraction of the cost of current technology, raised $16 million in a last November.
On its website, SIP also notes:
���The population living in urban areas is expected to double by 2050. Cities ��� and the people who live in them ��� face daunting challenges. Climate change threatens to bring storms, flooding, and fires with increased frequency; greater density is causing congestion, air pollution, and a lack of affordable transportation; outdated waste and water systems are strained.
There is broad consensus ��� spanning sectors and political divides ��� that our country is in urgent need of in new infrastructure spending.
The question is how to spend those trillions. We can���t keep investing in Band-Aids for infrastructure from a bygone era.���
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