Environmental data startup based in London, Connect Earth, is on a mission to build the infrastructure for climate-conscious products, fueling a world where climate action becomes standard practice. The company has just closed its first funding round at €1.6 million.
The main investors in the round were MSM (Mustard Seed MAZE), Market One Capital, D2, Plug and Play, Entrepreneur First and Venista Ventures, alongside strategic angel investors.
Founded in September 2021 by young entrepreneurs Alexander Lempka and Nicolas Carmont during the Entrepreneur First programme, Connect Earth represents a new generation’s growing consideration for the climate. The startup consolidates and harmonises sustainability data and makes it available through APIs and toolkits.
Alexander explained: “Our fundamental belief is that by 2030, every product will be a climate product. At Connect Earth, we are building the infrastructure and toolkits to support this development, starting in the financial sector. We are excited to scale our solution alongside our fantastic team and investors.”
Connect Earth already serves its first product, an API solution that calculates the carbon impact of consumers and companies based on their spending in line with carbon accounting standards, to banks and fintech firms globally. To date, the team has been running a PoC with the Elevator Lab Partnership Program powered by Raiffeisen Bank International (RBI) and working with US-based challenger bank Cogni to engage their GenZ audience.
Connect Earth also serves climatetech businesses with their climate data engine, enriching company, supplier, and product data with carbon insights at a fraction of the cost compared to traditional data providers. Currently, these businesses can request early access to their climate engine APIs.
Nicolas Carmont, co-founder and CTO added: “We have a real opportunity here to build tools that will help financial institutions and climatetechs to easily embed sustainability insights into their products. The climate data space is very difficult to navigate without deep expertise and we want to make developing climate features much easier for businesses who want to have an impact.”
The fresh capital will allow the young innovators to gain traction and expand the data offering across Europe and the US. The team has also increased to 10 employees with plans to grow to 15 by Q3 in 2022.
Henry Wigan, Managing Partner at MSM said: “Connect Earth is critical in ensuring we have the infrastructure to help businesses embed sustainability data into their products. We believe that this infrastructure is the missing piece to allow for better climate decisions. We are excited and thankful to be partnering with Connect Earth on their journey ahead”.
via https://www.AiUpNow.com
March 29, 2022 at 04:27AM by contact@bcurdy.com, Khareem Sudlow
