Series B14 November 2022

BeZero Carbon raises £42.6m Series B funding led by Quantum Energy Partners to expand internationally

The funding round was led by Quantum Energy Partners with participation from corporate and existing investors to support global expansion.

£42.6MSeries B

BeZero Carbon is a ratings agency that evaluates carbon offset projects for the voluntary carbon market. The company provides risk, research and data tools to improve transparency and decision making.

London based carbon ratings agency BeZero Carbon has secured £42.6m in Series B funding to scale its operations and technology. The round was led by Quantum Energy Partners, with participation from EDF Group, Hitachi Ventures, Intercontinental Exchange, and existing backers including Molten Ventures, Norrsken VC, Illuminate Financial, Qima and Contrarian Ventures.

The fresh capital will be directed towards expanding the firm presence in Singapore and New York, alongside ongoing investment in automated tools and top tier talent. This latest injection follows a period of rapid growth for the carbon information provider, as demand rises for robust data infrastructure in environmental markets.

From the founder

"We have a once in a generation opportunity to build environmental and ecological restoration into the heart of the economic model. Starting with carbon, effective ecosystem markets have huge potential to accelerate the Net Zero transition and generate economic prosperity. Developing the information infrastructure that allows these markets to take off is fundamental to their growth. The raise will ensure we can continue to invest in our ratings, risk and analytics tools to make this vision a reality."

Tommy Ricketts

CEO at BeZero Carbon

Investor perspective

"Set to reach $50bn by 2030, the Voluntary Carbon Market will play a central role in the transition to Net Zero. BeZero Carbon has built the biggest ratings agency in the market, with an incredible team of experts that are leaders in their fields. We are excited to be supporting them with their next stage of growth to help build a new climate economy."

Jeffrey Harris

Venture Partner, Quantum Energy Partners