UK-based Pivotal has raised a Seed round of £4.5 million to help it transform the economics of biodiversity tracking and build a platform to measure biodiversity at scale.
The round was led by Octopus Ventures and includes AENU, The Clearing Ventures, with existing investors, Pale Blue Dot.
“Pivotal’s model is positioning them to become the vital data source for biodiversity restoration and the catalyst for a range of new ways to understand, improve and link financial rewards to biodiversity," says Jorn Jansen Schoonhoven, B2B software investor, Octopus Ventures.
Through Pivotal’s platform, both the owners of credit projects and the buyers of those credits can track changes in biodiversity over time and link the value of a credit to real, measured gains.
“Biodiversity has become an increasing priority for everyone from business to government, and organisations are setting out ambitious plans to help slow and reverse biodiversity loss. However, these ambitions are impeded by the challenge of knowing what’s really happening on the ground. Companies struggle to track their supply chains, and governments and regulators lack the data to enforce regulation and effectively pursue biodiversity goals like the UN’s 30 by 30. With affordable, scalable analytics of species-level data, we can better incentivise and track change in biodiversity over time, and open up new, impactful and secure mechanisms of investment," says Zoe Balmforth, co-founder of Pivotal.
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