San Francisco, Sept. 27, 2022 (GLOBE NEWSWIRE) -- SINAI Technologies, the leading Decarbonization Intelligence platform for reducing carbon emissions, announces $22 million in Series A funding as it plans to build even more accurate, collaborative software and continue its international expansion. This round was led by Energize Ventures, a leading global investment manager accelerating digital innovation for energy and sustainability. Energize is joined by Stardust Equity, HighSage, and other confidential external investors, along with previous investors such as Obvious Ventures, Valo Ventures, Afore, and High Alpha. Two Japanese-owned investment firms – Presidio Ventures (from Sumitomo Corporation) and NEC Translink Capital – are also participating, along with Singtel Innov8, from Singtel Group, headquartered in Singapore. To date, SINAI has secured $37 million in total funding.
This funding is announced after 80 percent of major companies have made net zero commitments, but few are making tangible progress toward their goals. SINAI is the only Decarbonization Intelligence platform that helps major emitters take action: the software accurately aggregates emissions data from an organization’s operations, models the most cost-effective ways to reduce emissions, and aids collaboration across complex value chains. For example, SINAI’s platform enables companies to understand the cost and benefit of actions like electrifying a vehicle fleet or switching to renewables and perform scenario analysis to understand their transition costs.
“As corporates race to meet net-zero goals, the complexities associated with building and implementing a decarbonization strategy – from calculating emissions to deploying carbon reduction projects – are coming to the forefront,” said Energize Ventures Principal Eileen Waris, who joins SINAI’s board of directors. “This is especially true for emission-intensive industries like mining, manufacturing, and agriculture, where the financial and environmental data needed to inform decarbonization strategies is often highly complex and bespoke. SINAI provides the software platform that heavy emitters need to close the gap between measurement and management and bring their net-zero commitments to fruition.”
Last year, SINAI’s Decarbonization Intelligence platform tracked over 35 million tons of carbon emissions for its customers. By connecting detailed carbon inventories to company-specific financial data, SINAI also helped those customers evaluate more than $5 billion of potential capital expenditures for carbon mitigation projects.
SINAI, which is US based and launched in North America, now has customers from 20+ industries and users in 60+ countries spanning Europe, Asia and Latin America. As SINAI increases its international presence, it's attracting investors from Asia and engaging major new clients from Brazil to Japan.
“Every day, we’re seeing more companies commit to net-zero goals without a clear plan for getting there,” says Maria Fujihara, Founder and CEO. “SINAI is helping them with creating a plan. We believe that industry leaders with more reliable data and better collaboration can reach net zero by 2050 (or even before!) and prosper in a low-carbon economy. We are grateful for the support of our investors, but mostly for our customers who are interested in having clear and achievable pathways to reach their net-zero goals.”
In addition to international expansion, this funding will enable SINAI to accelerate the development of its Decarbonization Intelligence platform by adding to best-in-class analytical capabilities that make it easier for customers to manipulate data, share it, and take action. As a first step, SINAI is releasing an integration with Tableau that will give customers powerful new ways to visualize their data. SINAI also plans to add to its team of climate experts to meet the future needs of its customers.
To learn more about SINAI Technologies, visit: www.sinaitechnologies.com, or watch a quick video that explains Decarbonization Intelligence.
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About SINAI Technologies
SINAI Technologies Inc. is a Decarbonization Intelligence platform built to help organizations to build decarbonization strategies. Its 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 or follow us on Twitter @SINAICarbonTech or LinkedIn @SINAI Technologies Inc.
About Energize Ventures
Energize Ventures is a leading global alternative investment manager focused on accelerating digital transformation in energy and sustainability. Founded in 2016, Energize has funded 22 companies to date and is backed by strategic and institutional LPs, including CDPQ, Invenergy, Schneider Electric, General Electric, Caterpillar, and more. With an unmatched depth and breadth of industry and operational expertise, Energize works in partnership with its portfolio companies to realize their full potential from early commercialization to growth scaling and into the public markets. For more information on Energize Ventures, please visit www.energize.vc.
