Green Technology

Recent Deals – 26 July 2023

Sylvera (2020) has developed machine-learning-based tools to track the performance of carbon offsets, allowing companies and governments to invest in carbon credits and easily report on their impact. While there is a global recognition around net-zero targets and initiatives, the overall pace of action within the carbon offset market is lagging far behind what is necessary to reach 2050 goals.

For most companies, reaching these targets would require doubling the pace of emissions reduction by 2030, which in turn requires accurate data platforms to measure and benchmark progress against net-zero targets. This is where Sylvera’s intelligent carbon offset tracking platform shows up, using a range of carbon measurement methodologies and climate science to rate and benchmark different carbon capture, removal, or emissions avoidance projects. The platform organises the multitude of global carbon projects within a single accessible space and provides transparent views on carbon credits so that corporations, governments, and markets can confidently buy and scale their climate contributions.

Sylvera has pulled $57M in Series B funding to scale its technical capabilities, grow its engineering and product teams from 12 to 24 employees, and to further build its platform, including adding new data about carbon credits. The round was led by Balderton Capital with participation from Index Ventures, Insight Partners, Salesforce Ventures, Speedinvest, Seedcamp, LocalGlobe, Bain & Company, 9Yards Capital, and Fidelity International.