Connect Earth Secures $5.6 Million for Sustainability Growth
On March 28, 2023, in the bustling city of London, Connect Earth successfully closed a substantial funding round amounting to $5.6 million. This achievement comes less than a year after their initial funding and marks a significant step in advancing their API-first environmental data services aimed at promoting sustainable finance. The funding round was spearheaded by Gresham House Ventures, with backing from a variety of noteworthy participants, including Love Ventures, Global Brain and its corporate venture capital partner The Norinchukin Bank, Portfolio Ventures, Super Capital, and several strategic angel investors. Moreover, the company's existing investors such as Market One Capital, Mustard Seed MAZE, and Venista Ventures also joined in to support this expanding initiative.
Founded in 2021, Connect Earth aims to democratize access to sustainability data by providing an easily integrable carbon tracking API.
This innovative tool is designed to support financial institutions in offering their clients clear insights into the environmental implications of their daily spending and investment choices. With the newly acquired funding, Connect Earth plans to accelerate its growth within Europe and aid its expansion into the US market, where it has already begun collaborations with various financial institutions and strategic partners. This influx of capital will enable the company to strategically focus on numerous opportunities that are rapidly emerging in the sector, including partnerships with blue-chip clients.
As Alexander Lempka, Co-Founder and CEO of Connect Earth, stated, “Decarbonisation initiatives in the financial sector are growing rapidly which is why we need to further scale our product offering to help financial institutions measure and reduce the emissions of their customers.” His co-founder, Nick Carmont, the CTO, echoed this sentiment, indicating plans to introduce new products that simplify access to environmental data and tools. Noteworthy industry experts, such as Benjamin Faulkner from Gresham House Ventures, have remarked on Connect Earth’s dual capacity to enhance customer engagement while complying with evolving regulatory demands. The future looks promising for Connect Earth as they strive to transform the financial landscape through carbon footprint awareness and the facilitation of sustainable choices.
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