Emitwise raises $10m Series A
We’re pleased to announce that we’ve closed our Series A funding round.
The $10m investment, led by Xplorer Capital, will enable us to further develop our AI-driven carbon accounting software and to deeply partner with the manufacturing sector. Outsized Ventures, True Ventures, ArcTern Ventures and Lightbird Ventures also participated in this round, which was oversubscribed.
We selected these investment partners for their strategic insight and market-specific knowledge, as well as strong track records in supporting complex operational delivery. This means that, to date, we have raised $17m.
Investment for impact
With increasing pressure from investors, regulators, customers and stakeholders, businesses urgently need to understand their emissions (especially within Scope 3) and how to drive them down if they’re to remain competitive in years to come. To make the most significant impact, we’re focused on helping the largest emitters – in the manufacturing and industrial sectors – first.
Historically, identifying carbon hotspots within large organizations, particularly those with complex supply chains, has proven prohibitively expensive, inaccurate and time consuming. By automating the integration and calculation of carbon data, our software 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.
To further our growth ambitions, we’re pleased to announce that former Unilever executive, Steve Bianchi, has been appointed Chief Operating Officer. With a career spanning nearly 30 years, including time spent at Unilever, Deutsche Bank and Zalando, he brings a wealth of expertise in talent acquisition, people management and productivity planning. Steve will be instrumental in creating the service and delivery infrastructure required to scale the company, directly managing the Customer Impact Division and the People & Talent team.
Mauro Cozzi, CEO and Co-Founder of Emitwise said, “Significantly reducing carbon is both a planetary and business imperative. With businesses under ever-increasing scrutiny, the need for accurate and accessible emissions data is critical. Emitwise democratizes carbon information across a business’ supply chain so that decision-makers at every level can work towards all-out transformation. Our product has been designed to address customers’ pain points around data collection, transparency and analysis, and enables those in the highest polluting sectors to make critical decisions at a micro level.
“To announce this funding round alongside the hiring of Steve further highlights the extent of our growth ambitions. Steve brings an extraordinary level of experience in operational development and a passion for attracting and retaining great talent.”
Nathan Feltz, Principal at Xplorer Capital, commented, “Every company needs to execute a decarbonization journey to remain competitive, and Emitwise has built the platform to help them. They have the technology and the team to emerge as the best-in-class standard for carbon management.”
It’s an exciting new chapter in Emitwise’s journey.