San Francisco, Aug. 05, 2021 (GLOBE NEWSWIRE) -- SINAI Technologies Inc., a San Francisco-based decarbonization platform, announced today it has closed a $10M seed funding raise led by Obvious Ventures.
Obvious is a Silicon Valley-based venture capital firm and certified B-Corp that combines profit and purpose for a smarter, healthier, and more sustainable world. Additional investors include Ajax Strategies, Valo Ventures, High Alpha, Climactic, along with other angels and existing investors including Afore Capital, MCJ Collective and Climate Capital.
SINAI intends to use the funds to continue scaling its decarbonization platform as well as launch new modules and tools that further empower companies to achieve net-zero targets through automating processes to monitor, price, analyze risks and reduce carbon emissions.
“We’re seeing a quick acceleration of the need for our technology across many sectors and geographies, and this additional funding will enable us to scale at the speed of demand,” said SINAI’s CEO, Maria Fujihara. “Net-zero commitments are being made daily by companies, without a strategy for meeting these commitments. Our platform enables companies to achieve their net-zero targets by not only identifying, but crucially forecasting and pricing, the most cost-effective decarbonization strategies. These strategies work for companies of all sizes, with the greatest decarbonization experienced by global companies with complex supply chains.”
"Obvious invests in companies solving humanity's biggest challenges, and climate technology startups are on the frontlines. Sinai, helping global businesses bridge the gap between understanding one's carbon footprint and taking action, is at the forefront of an emerging, enterprise-scale (de)carbon economy," said Andrew Beebe, Managing Director, Obvious Ventures.
The latest raise comes less than a year after the company secured nearly $4M in pre-seed funding from Afore Capital, Abstract Ventures, Coelius Capital and PlanGrid founders.
SINAI Technologies’ decarbonization platform helps companies decarbonize value-chain-wide emissions by enabling more intelligent carbon emission measurement, reporting, mitigation and pricing. The company is already having a positive impact, having enabled organizations in many sectors, including steel, manufacturing, transportation, utilities, agriculture, and food and beverage, to measure and mitigate their carbon emissions.
This news follows the announcement that SINAI Technologies was selected among hundreds of candidates as one of the World Economic Forum’s “Technology Pioneers”. The World Economic Forum’s Technology Pioneers are a selected group of 100 early to growth-stage companies from around the world that are involved in the use of new technologies and innovations that are poised to have a significant impact on business and society.
For more information, please visit: www.sinaitechnologies.com
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About SINAI Technologies
SINAI Technologies Inc. is a software platform built to help organizations to build decarbonization strategies. Their decarbonization platform enables more intelligent carbon emission measurement, reporting, mitigation and scenario analysis for organizations using science-based methodologies. To learn more, visit: www.sinaitechnologies.com