Sylvera raises £23.6m in Series A funding led by Index Ventures and Insight Partners to expand carbon market ratings.
The Series A round was co-led by Index Ventures and Insight Partners to broaden the company data coverage.
Sylvera provides independent data and assessments for carbon offset projects through an online platform. The company uses proprietary data and machine learning to evaluate the performance of carbon markets.
Sylvera has secured £23.6m in Series A funding to expand its ratings coverage across carbon markets. The financing round was co-led by Index Ventures and Insight Partners, alongside contributions from Salesforce Ventures, LocalGlobe, and angel investors. The capital will be deployed to scale operations and broaden evaluation methods for carbon offset projects.
The carbon credit sector has faced scrutiny over transparency and the accuracy of environmental claims. Sylvera operates independently by assessing carbon performance without selling offsets itself, aiming to bring greater clarity to corporate buyers and market participants.
From the founder
"The market is one of the world’s most powerful tools against climate change. But we need reliable data to determine the quality of carbon offsets, in order to incentivize people to invest in the projects that are actually doing good – and to reward the project developers doing good work."
Allister Furey
Co-founder and CEO at Sylvera
Investor perspective
"We won’t stand a chance of reducing the world’s carbon emissions without a well-functioning carbon offset market. Billions are spent on carbon offsets every year, yet there is a lack of transparency and accountability and, therefore, a lack of trust. Trust is absolutely essential to reach the scale required to address the climate emergency. As an independent data provider, Sylvera has seen exponential growth in demand from some of the world’s largest companies, governments, and other entities. It highlights how critical their work is, and we’re excited to expand our partnership with Sylvera."
Carlos Gonzalez-Cadenas
Partner, Index Ventures
