Climate tech firm Pledge secures $10m for logistics decarbonisation

Climate tech firm Pledge secures $10m for logistics decarbonisation

Pledge, a climate technology leader headquartered in London, has successfully garnered $10m in a Series A funding round.

The firm is known for its dedication to helping businesses in the logistics and supply chain industry achieve net-zero emissions.

The fundraising campaign was led by Zinal Growth, and saw participation from new investors such as Base Partners, Ace & Company, and seasoned experts from the logistics industry. Notable among them is Dirk Reich, a former member of the Management Board at Kuehne+Nagel. Existing investors Lowercarbon Capital and Visionaries Club also reinforced their commitment by doubling their initial seed investment.

Pledge offers accredited tools that allow supply chain leaders and freight forwarders to comprehend, report, minimise, and eliminate their logistics emissions. The platform is built with a focus on accessibility, transparency, and simplicity, boasting unique features like Clarity™ and Accuracy™. These tools guide users through the emissions calculation process, ensuring auditability and bolstering confidence in reporting.

The company intends to utilise the new funding to further its mission by building top-tier products. The goal is to expedite the transition of businesses to net-zero and eliminate gigatons of carbon from the atmosphere.

Pledge, founded by early Revolut employees David de Picciotto and Thomas Lucas, along with Freetrade’s co-founder and former CTO, André Mohamed, has already established partnerships with a range of logistics and freight forwarding customers. These include Ligentia, Raft, and Zencargo, as well as sustainability programmes for prominent industry associations such as WCAworld and BIFA in the UK.

Pledge CEO David de Picciotto said, “We started Pledge with the belief that technology can be a powerful lever in the fight against climate change. This funding round enables us to continue building best-in-class products to help accelerate businesses’ transition to net zero and remove gigatons of carbon from the atmosphere.”

Guillaume Waser, Managing Partner, Zinal Growth, praised Pledge’s unique approach saying, “Pledge’s product-led approach and vertical focus makes it a really exciting company in a new and growing space. They are taking an approach usually seen in vertical B2B SaaS companies and are applying it to impact some of the biggest emitting industries in the world.”

Keep up with all the latest FinTech news here

Copyright © 2023 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.