nZero, a near real-time carbon management and accounting platform, has scored $16m in a Series A funding round.
According to the firm, the new funding round will enable the company to scale amid a global call for better, more accurate tracking and reporting of energy, financial, and greenhouse gas emissions data across the public and private sectors.
The Series A was led by both Fifth Wall—the largest asset manager focused on improving, future-proofing, and decarbonizing the built world—and a national US energy company. Also taking part in the raise were Piedmont Capital Investments and limited partner Henry Kravis, founder and co-chairman of KKR.
nZero claims it is the only 24/7 carbon management solution with the ability to sync automatically, analyse, and manage carbon emissions across Scopes 1, 2 and 3 on a granular level, ultimately pairing financial and emissions data and insights that empower true business change.
Offering continuous 24/7 tracking, nZero captures hour-by-hour emissions changes in an easy-to-use platform to help clients track, manage, and report out their sustainability goals.
Since launching its services in April 2021, nZero has worked with various corporate, agriculture and government entities globally to help them understand their actual carbon impact and develop the most financially efficient and sustainable emissions reductions plans.
nZero CEO Adam Kramer said, “”We have a proven track record in providing the best near-real-time, granular data across all scopes of emissions, which business and government leaders can use for operational and capital planning, leveraging tax credits, and the evolving reporting standards.
“Since our inception, we’ve aggregated more than 1 billion data points across 12,000 buildings and 10,000 vehicles, all being tracked by nZero, and this is just the beginning of our upwards trajectory. Our next chapter will enable us to grow as a data authority and bring our tech platform to scale, deepening our work with Fortune 500 companies, municipalities, government agencies and NGOs.”
Xilva, a platform for investments in regenerative forests, has recently raised $1.8m in a pre-seed funding round.
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