San Francisco-based decarbonization platform SINAI Technologies announced securing $10M in its latest Seed Funding Round.
The latest SINAI Technologies funding round was led by Obvious Ventures, a venture capital firm that invests in startups "reimagining trillion-dollar industries through a world positive lens."
Co-founded by Medium CEO and Twitter co-founder Ev Williams, the Silicon Valley firm and certified B-Corp combines both profit and purpose and a healthier, smarter, and more sustainable world.
Additional investors in the seed funding round include San Francisco investment company Ajax Strategies, Palo Alto-based venture capital firm Valo Ventures, Indianapolis' B2B SaaS venture firm High Alpha, and climate crisis-focused firm Climactic.
SINAI also continues to receive support from angels and existing investors such as Afore Capital, MCJ Collective, and Climate Capital.
ALSO READ : Amazon Saw 19% Increase in Carbon Footprint During Pandemic, Explains Why It Is Not That Bad
Growing the Decarbonization Platform for Accelerated Net-Zero Targets
SINAI declared that the funds raised from the latest seed funding round will go toward further scaling its decarbonization platform. It will also launch additional tools and modules that would further support companies working to meet their net-zero targets by automating processes that monitor, analyze risks, price, and ultimately reduce carbon emissions.
"We're seeing a quick acceleration of the need for our technology across many sectors and geographies, and this additional funding will enable us to scale at the speed of demand," said Maria Fujihara, SINAI CEO.
She added that companies are making commitments on net-zero targets by the day without a solid strategy toward achieving these targets. With SINAI, companies can realistically work toward their targets not just by identifying which areas to work on but also by providing critical forecasting and pricing insights on the most cost-effective decarbonization strategies.
"These strategies work for companies of all sizes, with the greatest decarbonization experienced by global companies with complex supply chains," Fujihara added.
On the other hand, Obvious Ventures managing director Andrew Beebe noted that their firm invests in companies that are geared toward "solving humanity's biggest challenges."
As for SINAI, he said in a press release, "Sinai, helping global businesses bridge the gap between understanding one's carbon footprint and taking action, is at the forefront of an emerging, enterprise-scale (de)carbon economy."
The latest seed funding round comes less than a year after SINAI secured about $4M in pre-seed funding from PlanGrid, Abstract Ventures, Afore Capital, and Coelius Capital.
About SINAI Technologies
SINAI Technologies is behind the new decarbonization platform that helps organizations cut down on their value-chain-wide emissions. Hitting net-zero targets are made possible with the platform's more intelligent measuring of carbon emissions, mitigation, reporting, and pricing.
The company is already fostering a positive impact, allowing companies in different sectors, such as steel, manufacturing, utilities, food and beverage, agriculture, and transportation, to have better insights into their own carbon emissions.
Its new seed funding round also follows news that SINAI Technologies has been chosen among hundreds of companies for the World Economic Forum's "Technology Pioneers," a select group of 100 early to growth-stage startups from around the world that utilize new technologies and are expected to create significant impacts on both business and society.
Read also: 'Tightening the Net': New Report Warns About 'Net Zero' Carbon Targets Distracting the Public
Check out more news and information on Carbon Emissions in Science Times.
