Sylvera, a London, UK-based carbon credit ratings company, raised $57m in Series B funding.
The round was led by Balderton Capital, with participation from Fidelity Strategic Ventures, and 9Yards Capital, as well as existing backers Index Ventures, Insight Partners, Bain & Company, Salesforce Ventures, Speedinvest, Seedcamp, and LocalGlobe.
The company, which has raised a total of $95.5m, intends to use the funds to scale its teams and product offerings, expand into the US, double down on technology leadership to produce data to support investment in climate action.
Led by Allister Furey, CEO, and Samuel Gill, President, Sylvera provides a carbon intelligence platform which enables corporate sustainability leaders, traders and asset managers evaluate and invest in high quality carbon credits.
By combining technology with carbon project evaluation methodologies, the company provides data and ratings about climate action investments, including carbon credits, allowing both private sector and government to fill gaps in their net zero strategy and work towards societal net zero. As a result, they ensure funding is going to the projects, companies, and countries having maximum climate impact, in order to get the world on track for net zero. This data is the foundation for creation of effective financial incentives, such as higher share prices and cheaper borrowing, for organizations taking serious action.
Since January 2022’s Series A announcement, the company has grown significantly, expanding its customer base sevenfold, forging partnerships with firms including S&P Global, and bringing on clients ranging from major financial services institutions to sovereign governments.
FinSMEs
19/07/2023