Sylvera raises funds to put carbon offsetting on a path to net zero

Climate intelligence startup, Sylvera has closed Series B funding securing $57 million. The round was led by Balderton Capital, with participation from existing investors Index Ventures, Insight Partners, Salesforce Ventures, Speedinvest, Seedcamp and LocalGlobe. 

Daniel Waterhouse, Partner, Balderton Capital said: “There is an urgent need to provide the most accurate and transparent views on the multitude of carbon projects around the world in order for corporations, governments and markets to trust in the carbon credits they are buying and effectively scale their climate contributions and head towards net zero. Sylvera has proven to be the market leader in this emerging field and we are excited to be joining them on the next phase of the journey and their work in accelerating the roll-out of data, tools and software in order to steer a path to reducing damaging climate change.” 

Sylvera leverages advanced technology and top-notch carbon project evaluation methodologies to offer reliable data and ratings on climate action investments, including carbon credits. This empowers both the private sector and governments to address gaps in their net zero strategies and progress towards societal net zero goals. By directing funding to projects, companies, and countries with the greatest climate impact, Sylvera plays a vital role in steering the world towards achieving net zero. The data provided by Sylvera serves as the basis for creating effective financial incentives, such as increased share prices and more affordable borrowing options, to encourage organisations taking significant climate action.

“Voluntary carbon markets have an important role to play in progressing our transition to a net zero economy, and we want the UK to be a leader for innovation in this industry, which means inward investment is crucial. With the significant sums being raised in investment, homegrown companies like Sylvera are helping to achieve this.” said UK Minister for Investment Lord Johnson

The new funding will enable Sylvera to further develop its platform and include new data and information about carbon credits and net zero activity, to provide a more holistic picture of organisations’ progress against their targets. It will also support Sylvera’s efforts to scale technical capabilities and grow the engineering and product teams.

“We are excited to invest in Sylvera and contribute to the next stage of their growth by exploring asset management use cases. The company’s trusted and unbiased data solves a critical need for asset managers by helping them to better evaluate net zero plans of investee companies across the globe. Sylvera’s unique data platform also enables the creation of new sustainable investment products and educates investors about the quality of carbon offsets. The institutionalisation of carbon markets is necessary to help corporates and investors achieve their net zero targets and we believe Sylvera will be a key driver in facilitating this.” said Erik Mostenicky, Principal at Fidelity International Strategic Ventures.

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