Georgia Atlanta base Cloverly, A developer of a sustainability platform as a service to connect voluntary carbon markets with businesses, consumers and institutions using real-time computation powered by APIs. The company’s platform calculates the carbon impact of specific business and consumer activities such as e-commerce shipping, carpooling and on-demand delivery.
It then buys carbon offsets to make those operations carbon neutral, allowing buyers to view the source of the balance in real time and, through its algorithm, match the customer to an avoidable or attractive source. nearest carbon sink. carbon for local impact.
Cloverly has received $19 million in funding led by Grotech Ventures, with participation from Aquiline Technology Development, Impact Engine, Mission One Capital, New Climate Ventures and CreativeCo Capital, and existing strategic angel investors from Tech Square Ventures, SoftBank Opportunity Fund, Circadian Ventures, Knoll Ventures, SaaS Ventures, and Panorama Ventures.
The company intends to use the funds to further develop its digital infrastructure for voluntary carbon markets, including a new supplier platform, a triple multiplier group, and the launch of a second headquarters. in London.
Cloverly’s platform allows businesses and individuals to offset the carbon footprint of their online transactions, from online purchases to travel bookings.
The company’s proprietary technology calculates the carbon emissions associated with each transaction and offers customers a variety of options to offset them, from renewable energy projects to reforestation initiatives. .
CEO Ason Rubottom said he is pleased to have the support of such a strong group of investors as he continues to grow his platform and expand its reach.
Their goal is to make it easy and affordable for businesses and individuals to take action on climate change, and this grant will help them achieve that goal. The carbon offset industry has grown rapidly in recent years, fueled by a growing awareness of the urgent need to tackle climate change.
World Bank recently announce that global carbon offset market is expected to reach $50 billion by 2030.
With its advanced technology platform and strong customer base,
Cloverly is well positioned to capitalize on this trend and become a leader in the carbon offset market.
