CarbonChain raises £8m in a Series A funding round co-led by Union Square Ventures and Voyager Ventures to develop new products and expand its team.
The Series A round was co-led by Union Square Ventures and Voyager Ventures to support product development and team expansion.
CarbonChain provides a carbon accounting platform that tracks supply chain emissions for carbon intensive industries. The firm uses granular data to map the carbon footprint of global trade.
CarbonChain has secured £8m in a Series A funding round co-led by Union Square Ventures and Voyager Ventures. The company will direct the capital towards developing new carbon accounting products, growing its customer base in carbon intensive sectors, and expanding its workforce.
The financing arrives as organisations face increasing pressure to quantify and reduce their greenhouse gas emissions to meet climate targets. CarbonChain intends to open a New York office as part of its strategy to support the North American market and service growing international demand.
From the founder
"CarbonChain helps climate-critical sectors take action by filling the data gap for supply chain emissions tracking with accuracy and granularity,"
Adam Hearne
CEO and co-founder at CarbonChain
Investor perspective
"CarbonChain has a team of passionate, expert engineers, data scientists, and sales leaders dedicated to tackling the world’s largest sources of GHG emissions,"
Rebecca Kaden
Partner, Union Square Ventures
Use of funds
- 01Continue product development
- 02Grow the team
- 03Expand into international markets
Investors
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About the company
CarbonChain
CarbonChain builds carbon accounting software to track supply chain emissions.