Sylvera, a UK-based carbon data firm, has successfully raised $57 million in a Series B funding round. This significant financial boost is intended to expand the company’s presence in the U.S. and incentivize organizations to invest in climate impact.
The funding round was led by Balderton Capital and saw participation from numerous high-profile investors. These included Index Ventures, Insight Partners, and Bain & Company, alongside Fidelity Strategic Ventures and 9Yards Capital.
Launched just a year ago, Sylvera has quickly established a robust platform that empowers both companies and governmental organizations to invest in CO2 credits. More than this, it also provides a way for these bodies to report their climate impact. This service is particularly relevant and necessary in today’s environmentally conscious world, where carbon footprints and climate impact are of significant concern.
Sylvera leverages advanced technology for its operations, utilizing carbon measurement technology, 3D scanning, satellite imagery, and complex algorithms. These tools allow the firm to evaluate climate action investments and accurately measure the amount of CO2 stored in forests.
The company has big plans for the recently secured funding. Among other things, Sylvera intends to enhance its platform with new data about CO2 credits. Additionally, the firm plans to expand its team, which includes opening a new office in New York to strengthen its U.S. presence.
Since January of last year, Sylvera’s customer base has grown exponentially. The company has seen its client base increase sevenfold, attracting a diverse range of clients. This includes everything from financial institutions to sovereign governments.
This isn’t the first time Sylvera has caught the attention of investors. The London-based startup raised $32 million in another Series B funding round. This round was led by Horizons Ventures and was used to further develop its technology and expand its team.
Sylvera’s digital platform uses machine learning and satellite data to provide accurate assessments of carbon offset projects. This approach not only ensures the validity of the projects but also promotes transparency in the carbon market. This transparency is crucial for building trust and encouraging more organizations to invest in climate impact.
