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Sylvera banks $57M to put carbon offsetting on a path to Net Zero

Variety and Tech

18-07-2023 | 11:17

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Sylvera banks $57M to put carbon offsetting on a path to Net Zero

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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. New investors Fidelity Strategic Ventures, Bain & Company and 9Yards Capital are also joining the round.

The new funding follows a $32M Series A back in January 2022 and a $5.8M seed in May 2021 — with Sylvera banking close to $100M ($96M+) in total external investment since being founded back in 2020 to plough into plugging the data gap in carbon credit accounting.

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. 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.

Read the full story at:

https://techcrunch.com/2023/07/17/sylvera-series-b/

Variety and Tech

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