The Edinburgh-based NatureTech firm raised Series A backing from AzurX Space Ventures and Intercontinental Exchange to expand its global forest mapping catalogue.
"To address the dual climate and biodiversity crises, it’s critical that investment in forest conservation and restoration scales through mechanisms such as the carbon markets and that compliance with legislation like the EU Deforestation Regulation is ensured,"
The seed round was co-led by Pace Ventures and Nine Realms to support product enhancement and team expansion.
"Decarbonising supply chains is not a new challenge, but one of the largest hurdles for businesses has been accessing and analysing comprehensive data, as a direct result of supply chain complexities and the nature in which this data has been collected up until now. We saw that by using our unique approach to collect, normalise and blend supply chain data, we could improve its interoperability and use it to provide actionable insights on transportation emissions down to the level of individual trips and packages."
The funding round was led by the Development Bank of Wales alongside Carbon13 and angel investors.
"Energy costs have risen over 350% since 2021 and carbon emissions from buildings need to reduce by 50% by 2030 but almost 90% of non-domestic buildings don’t have a building management system. This lack of data is hindering the ability to reduce energy costs and carbon emissions."
Helen Ventures led the seed round with participation from international investors to fund European expansion and product development.
"It is our privilege to join the Renewabl team in their impressive growth story. Consuming clean electricity that matches on an hourly or 15-minute basis is fast becoming an imperative for net-zero-aligned companies – with good reason – whereas tracking and procuring this energy is a challenge,"
— Mikael Myllymäki, Vice President and Head of Helen Ventures