With increasing pressure from investors, regulators, customers and stakeholders, businesses urgently need to understand their emissions and how to drive them down if they’re to remain competitive in years to come.
London-based carbon management startup Emitwise has closed a $10 million funding to accelerate the rapid decarbonisation of the economy. The Series A round was led by Xplorer Capital and saw the participation of Outsized Ventures, True Ventures, and ArcTern Ventures.
The extra cash will enable further development of its AI-driven carbon accounting software and deeper partnership with the manufacturing sector.
Historically, identifying carbon hotspots within large organisations has proven expensive, inaccurate and time consuming. By automating the integration and calculation of carbon data, the company allows large multinationals to measure, track and reduce their emissions across their own operations - as well as that of their supply chains - in a cost-effective way.
According to Mauro Cozzi, CEO and co-founder, Emitwise, reducing carbon significantly is both a planetary and business imperative. “With businesses under ever-increasing scrutiny, the need for accurate and accessible emissions data is critical. Our platform democratises carbon information across a business’ supply chain so that decision-makers at every level can work towards all-out transformation.”
Nathan Feltz, principal, Xplorer Capital added: “Every company needs to execute a decarbonisation journey to remain competitive, and Emitwise has built the platform to help them.”