UK – Hace, a Manchester, UK-based provider of a Child Labour Index, which is an AI-powered specialised ESG rating, raised £450K in Pre-Seed funding.
The round was led by Manchester Angels, with participation from GC Angels, Ada Ventures, Found Capital and angel investors.The company intends to use the funds to complete the build of its flagship product, the Child Labour Index, which enables asset managers, wealth managers and institutional investors to proactively identify child labour risk in their portfolio companies and engage with these businesses effectively via its Stewardship Toolkit, to facilitate positive change. Led by CEO Eleanor Harry, HACE has developed an approach to against the issue. Its Child Labour Index is an AI-powered specialised ESG rating, which scores companies and portfolios on their child labour performance in three ways – company disclosure, public perception, and supply chain. Designed for asset managers, asset owners, investment and asset consultants, banks, insurers, and other professional services, the index provides a quantitative metric available on the market to report on child labour in real-time. 29/02/2024
