Greenly expands and extends carbon accounting platform through successful fundraising effort.

TLDR:

• Greenly raises $52 million in Series B funding
• Funds will enable global expansion and cater to regulatory compliance needs

Key Elements

Greenly, a carbon accounting startup, has secured $52 million in Series B funding led by Fidelity International Strategic Ventures. The funding comes at a crucial time as companies face increasing carbon emission reporting requirements due to legislations like the EU’s Corporate Sustainability Reporting Directive (CSRD) and US greenhouse gas emission reporting.

The funding will allow Greenly to extend its reach globally and cater to enterprises, mid-market, and SMEs. Their platform, already serving over 2,000 organizations, helps manage carbon data efficiently, aiming to simplify carbon management and foster sustainability within corporate cultures.

The oversubscribed funding round saw participation from Fidelity International Strategic Ventures, BGV, Move Capital, Hewlett Packard Enterprise, and others. Greenly plans to use AI to enhance data collection and analysis, and introduce new tools like Life Cycle Analysis (LCA) for a more comprehensive solution.

Investors believe in Greenly’s potential for growth, considering the oversubscribed round as a sign of the industry’s focus on sustainability. With a vision to revolutionize how companies approach climate responsibility, Greenly aims to lead the global shift towards comprehensive carbon and greenhouse gas emission management.