Climate tech startup Sustainiam has raised $1.45 million (about Rs 12.14 crore) in its maiden funding round led by Orios Venture Partners, along with participation from Indian actress Shilpa Shetty Kundra, Rajesh Sawhney, Harsh Vardhan Bhagchandka, and Vinit Bhansali.
The proceeds will be used to launch a digital, technology-powered platform for trading environmental assets, increase the workforce, and expand its operations globally, Sustainiam said in a press release.
Co-founded in 2023 by Sapna Nijhawan and Pranav Burnwal, Sustainiam provides reporting-to-redemption solutions for corporate emissions. Users can discover and purchase carbon credits on the platform with real-time settlement. It also provides API and climate finance. The platform offers carbon footprint management solutions to businesses through its tech-enabled platform. It allows companies to issue and trade international renewable energy certificates and other carbon certificates.
According to the Noida-based company, it has launched its first product focused on carbon emissions and plans to roll out its exchange and registration platform in January. The platform states that it serves clients globally, including in the US, Europe, China, Canada, the Middle East, and Singapore.
Sustainiam aims to build a digital front for the registration process, making the submission of carbon assets and project documentation fully digital. This will provide a more streamlined way for recipients of these carbon assets to record documentation and generate tradable assets, all on a single digital platform.
Sustainiam claims that it serves more than 140 clients, including Coca-Cola, ITC, Unilever, Brookfield, and H&M. It is currently trading more than 600 million kilowatt-hours (kWh) in carbon assets and is targeting revenue of Rs 70 crore in 2025.
Source: Entrackr : Latest Posts