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How I Raised $55M For Sustainability Startup By Stanford MBA, Ex-McKinsey

Poyan Rajamand | October 12, 2018
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    How I Raised $55M For Sustainability Startup By Stanford MBA, Ex-McKinsey
    Poyan Rajamand

On today’s episode, how an entrepreneur has achieved the impossible by raising $55 million dollars for his startup that aims to help the environment using technology that makes buildings more energy efficient.

At some point, you have to ask yourself, why be an entrepreneur? Well, you can’t deny the prospect of making a lot of money. You read about that all the time, but what’s even more impressive are entrepreneurs who start with a mission to help our world, and then build a successful company based around that. It might sound cheesy, but they do exist. They’re the real unicorns who aren’t just thinking about fame and fortune.

Hear how a Stanford MBA grad built his career at Unilever and Mckinsey, then ditched the corporate path to become an entrepreneur on a crusade to help the environment with a very unique business model. A business model where he would pay all the costs to install his technology and only be paid based on the money his clients would save on their energy bill. No upfront payment and he would carry all the risk. Introducing Poyan, the Co-Founder of Barghest Building Performance (BBP), he’s not only raised a series B but earned his company awards and partnerships with the Singapore Government.

Check out his website at www.bbp.sg. The stakes were clearly against him. Firstly, it’s hard to find money from investors or clients in sustainability, even though there’s a lot of positive recognition of the field, there’s inertia from clients who are pushing back on changing their ways. Secondly, his business model had to prove to clients his tech could reduce their bills before he got paid, meaning he had no room for error and he was carrying all the risk that his tech would pay off. That takes some backbone. And thirdly, he would have had a much more stable career path as a management consultant. You have to respect anyone who turns down attractive career prospects to roll the dice with entrepreneurship while saving the environment along the way. He and his co-founders have raised 55 million dollars, that’s impressive for a startup focused on energy efficiency.

If you found any of the podcast helpful to your search for success, the biggest compliment you can pay is to share this podcast with your friends, colleagues or family. Maybe one of them is interested in entering the sustainability field, or one of them is trying to create a greater social impact. Tell one of your friends today about Ramen to riches.

More about Barghest Building Performance (BBP):

Many companies in the Energy Efficiency space offer advice on how to improve energy efficiency or sell a new piece of equipment that helps customers save energy. Barghest Building Performance do neither. They offer a solution that helps buildings operate their existing equipment better and thereby achieve long term measureable and sustainable energy saving. Their solution is always paid through the savings they achieve over the long term, which aligns their incentive with that of their clients. If their clients don’t achieve any energy savings, they don’t get paid.

Barghest Building Performance focuses on Air Conditioning Systems since its the most energy intensive system in a building, but can offer a range of other energy efficiency related services.

 

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Music (Creative Commons/Royalty Free)

Coriolis Effect by logos (c) copyright 2010 Licensed under a Creative Commons Attribution license. http-//dig.ccmixter.org/files/Mseq/26296 Ft- stefsax

Watch this space… (ft. Doxent) by robwalkerpoet (c) copyright 2014 Licensed under a Creative Commons Attribution (3.0) license. http-//dig.ccmixter.org/files/robwalkerpoet/46866 Ft- Doxent

The Long Goodbye by John Pazdan (c) copyright 2008 Licensed under a Creative Commons Attribution license. http-//dig.ccmixter.org/files/flatwound/14476

Life is by Scott Buckley – www.scottbuckley.com.au

Whisper by Robbero (c) copyright 2014 Licensed under a Creative Commons Attribution (3.0) license. http-//dig.ccmixter.org/files/Robbero/44803

The Long Goodbye by John Pazdan (c) copyright 2008 Licensed under a Creative Commons Attribution license. http-//dig.ccmixter.org/files/flatwound/14476

Titan by Scott Buckley – www.scottbuckley.com.au

Moments in Space by spinmeister (c) copyright 2007 Licensed under a Creative Commons Attribution (3.0) license. http-//dig.ccmixter.org/files/spinmeister/12093 Ft- DJ Rkod




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    02. GLOBAL HEAD QUITS CORPORATE JOB FOR STARTUP DREAM
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    03. HOW I RAISED $55M FOR SUSTAINABILITY STARTUP BY STANFORD MBA, EX-MCKINSEY
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