UK-based Zevero announced that it has raised $7 million in a seed funding round to expand its footprint and enable more companies around the globe to utilize its platform to help businesses measure, report and reduce carbon emissions.

Founded in 2021, Zevero offers companies tools to understand the impact of their emissions, enabling them to determine how and where they can reduce that impact, as well as better comply with regulations that may affect them. The process enables companies to better determine what concrete steps they can take to reduce their carbon footprint by using AI to match emission factors and integrate supply chain data. The platform integrates advanced life cycle assessment (LCA) methodologies along with carbon accounting tools, offering businesses a detailed understanding of their environmental impacts and enabling them to make informed decisions to achieve their sustainability goals.

Zevero’s new capital raise follows the announcement by the company earlier this yearit has been acquired by Singapore-based climate tech startup, LEVELUP, with the companies merging under the Zevero brand.

According to Zevero, the company will use the funds to continue expanding the business globally and enhancing its product and services. The company added that it will continue to raise funds for the current round from other investors in a two-fold fundraising process.

Ben Richardson, Chief Sustainability Officer of Zevero, said:

“At Zevero, we’re dedicated to not only measuring carbon impact but also empowering our clients to make informed decisions to achieve their sustainability goals. This funding will help us enhance our platform, expand globally, and continue supporting our customers on their path to a net zero future.”

The field of carbon accounting is growing, as more companies seek to reduce their emissions and comply with regulations. Last year, carbon accounting startup Optera raised $12 million in a series A funding round, while Persefoni, another carbon accounting platform, raised $50 Million in a series C-1 funding round. Zevero’s funding will enable it to capitalize on this growing demand for such services.

Shigeo Taniuchi, Co-Founder and Global CEO of Zevero, said:

“Following a year of significant global commitments to net zero emissions, we have seen a surge in demand for robust, data-driven sustainability solutions. This funding allows us to expand our capabilities and continue delivering the innovative tools that businesses need to meet their regulatory and commercial obligations. The team is excited to lead the industry in providing accurate, scalable and actionable insights for carbon accounting.”

The round was led by Spiral Capital, with participation from East Ventures and several angel investors.