Sylvera, a company that develops machine learning-based tools to track the performance of carbon offsets, has announced a new $57 in a Series B round of funding. The round was co-led by Balderton Capital with participation from existing investors Index Ventures, Insight Partners, Salesforce Ventures, Speedinvest, Seedcamp, and LocalGlobe.
- London-based Sylvera was founded in 2020 by Allister Furey and Sam Gill. It enables businesses and governments to invest in carbon credits while reporting on their impact. In January 2022, Sylvera raised a $32 million in a Series A round. Since then, it has seen a sevenfold growth in its customer base.
“Since launching, we’ve made significant progress in bringing transparency to the carbon markets, showing buyers what to avoid and helping to deploy capital at scale towards genuinely effective projects. In the next phase of our journey, we will bring data and transparency to overall net-zero action, creating incentives for the organizations taking action and having real climate impact,”
- The company offers ratings and statistics analyzing climate action investments, including carbon credits, by combining technology with carbon measuring methodology. This allows organizations to achieve the net-zero goal and move towards societal net-zero.
- The round included funding from new investors Balderton Capital, Bain & Company, Fidelity International Strategic Ventures, and 9Yards Capital, joined by existing investors including Index Ventures, Insight Partners, Salesforce, Seedcamp, and LocalGlobe. Austrian Speedinvest also joined the fresh round. Recently, Speedinvest led $3 million seed round for French traveltech startup Fairlyne.
- The new funding will enable to further develop its platform, to expand into the US, where it has opened a New York office and will double its US team from its current size of 12 by the end of 2023. It will also make further investments in its UK engineering and product teams.
