CarbonChain's AI-based Carbon Accounting Software Secures $10M
As the world races towards net-zero emissions, companies are grappling with the challenge of identifying which of their operations pollute the most and to what extent.
CarbonChain, a London-based startup, has come up with a novel solution to this problem by leveraging granular data and AI-based accounting. CarbonChain's technology allows companies to precisely measure and report carbon emissions at all levels of the operational supply chain, offering carbon traceability, product carbon footprinting, and the identification of real-time reduction potential.
CarbonChain's recent $10M Series A funding round, co-led by Union Square Ventures and Voyager Ventures, will be used to develop new carbon accounting and reporting tools, expand its customer base in the most carbon-intensive value chains, and expand the company's team. CarbonChain's AI-powered carbon accounting technology automates emissions tracking with accurate, granular asset-level data for carbon-intensive supply chains such as metals, mining, and manufacturing.
The importance of CarbonChain's role in helping companies achieve their net-zero emissions targets cannot be overstated. The urgent need for global decarbonization requires innovative solutions that empower businesses to make climate-conscious decisions. CarbonChain's approach V0.94 has been validated by SGS and verified by Bureau Veritas to provide unparalleled insight into carbon-related risks and possibilities in near real-time for manufacturers, commodity dealers, financiers, and freight corporations.
CarbonChain's success in securing funding and expanding its operations is a testament to the growing interest in cleantech and the potential for green energy startups to drive the transition towards a more sustainable economy. As the world continues to grapple with the challenge of decarbonisation, startups like CarbonChain will play a crucial role in developing the tools and technologies needed to accelerate progress towards a net-zero economy.