Rather it’s positioning itself as an independent data layer - pitching rigorous analysis and data science to companies that want to meet their Net Zero targets and are looking for robust information on which offsetting projects they should invest in to help them get there, alongside (ideally) their best decarbonization efforts. Nor does it take payments from carbon project developers to rate their projects. It’s not in the business of selling carbon credits directly. One element of this trust flows from Sylvera not being a marketplace that makes money on carbon credit sales itself. (The basic idea for offsetting being companies pay to offset unavoidable emissions by funding stuff that sucks up an equivalent amount of carbon - meaning projects need to properly account for the carbon take up to ensure credits sold live up to the promise of emissions offset.) Their literal mission statement boils that down to “incentiviz investment in real climate impact”. The UK startup’s mission is to provide trusted data and ratings on carbon offset projects to support customers to meet Net Zero goals by investing in projects with the best credibility for carbon sequestration. Customer names it’s disclosing include the likes of S&P Global, Salesforce, BCG and Mitsubishi. Since Sylvera last raised it said it’s grown its customer base seven-fold but it’s still not disclosing customer numbers. The institutionalization of carbon markets is necessary to help corporates and investors achieve their Net Zero targets and we believe Sylvera will be a key driver in facilitating this.” Sylvera‘s unique data platform also enables the creation of new sustainable investment products and educates investors about the quality of carbon offsets. ![]() “The company’s trusted and unbiased data solves a critical need for asset managers by helping them to better evaluate Net Zero plans of investee companies across the globe. Funding is also being earmarked for further recruitment to feed its engineering and product teams so it can keep driving transparency in carbon trading markets.Ĭommenting on joining Sylvera’s B round, Erik Mostenicky, principal at Fidelity International Strategic Ventures highlighted its planned focus on asset management use-cases as a particular area of interest. “We are excited to invest in Sylvera and contribute to the next stage of their growth by exploring asset management use cases,” he said in a statement. ![]() The Series B is being put towards expansion into the US market - where it’s opening a New York office and building up a local team to target its services at US financial services companies and the asset management industry. ![]() The new funding follows a $32 million Series A back in January 2022 and a $5.8 million seed in May 2021 - with Sylvera banking close to $100 million ($96 million+) in total external investment since being founded back in 2020 to plough into plugging the data gap in carbon credit accounting. New investors Fidelity Strategic Ventures, Bain & Company and 9Yards Capital are also joining the round. ![]() London-based climate intelligence startup Sylvera has closed another chunky funding round - bagging $57 million in Series B funding led by Balderton Capital, with participation from existing investors Index Ventures, Insight Partners, Salesforce Ventures, Speedinvest, Seedcamp and LocalGlobe.
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