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BFD Expert Voices - Climate Deals

BFD Expert Voices

The emissions tracking software spaces remains a land grab with well-funded startups taking on the Big Four and Big Tech in a David vs. Goliath battle. 

TBD on who will actually emerge as a leader in the space, but recent developments include:

ENVEA, a manufacturer of emission and process monitoring systems, acquired California Analytical Instruments, a business specializing in environmental monitoring, for an undisclosed amount.

CarbonChain, a carbon accounting platform, announced its $10 million Series A round co-led by Union Square Ventures and Voyager Ventures.

nZero, a carbon management platform, closed a $16 million Series A funding round led by Fifth Wall and a U.S. energy company.

ACT, a provider of environmental commodities trading services, acquired a controlling stake in Green Project Technologies, a software company focused on corporate climate accounting.

Context Labs, a data provider that helps companies track carbon emissions, is in talks to raise $150 million from investors.

Watershed, a startup that analyzes companies’ greenhouse gases, acquired VitalMetrics, an emissions accounting and data firm, for an undisclosed amount.

Halliburton and Siguler Guff launched Envana Software Partners, a venture that offers emissions management SaaS.

PortXChange launched its EmissionInsider platform for emissions tracking and reporting.

NevadaNano, a provider of ESG tools, closed a $30 million Series C funding round led by Honeywell Ventures and Emerson Ventures.

Pathzero, a platform for financial institutions to exchange carbon information, raised AUD$8.6 million for its Series A+ round.

Microsoft is adding emissions tracking software and a carbon credit network into its 365 enterprise software.

Fifth Wall, a VC firm with an active climate fund, partnered with consulting group EY to offer emissions tracking software for real estate portfolio holders.

Felicis Ventures backed GreenPlaces, an emissions tracking software startup for small and medium businesses, to the tune of $4 million in seed funding.

Sweep, a carbon accounting software startup that has raised nearly $100 million, rolled out a new tool for financial institutions to track emissions while simultaneously taking aim at bigger tech companies like Salesforce for lackluster emissions tracking products.

KKR revamped its ESG data collection process after more than a decade. 

Sustain.Life raised $16 million in seed funding co-led by Tapestry Venture Capital and Sustain.Life co-founder Mike Hanrahan, who previously founded Jet.com and sold it to Walmart for $3.3 billion.

What we’re watching: Banks, insurers, private equity and investment managers are expected to spend $256 million by 2027 on carbon tracking software as more climate-related disclosure rules are adopted.

State of play: Emissions tracking software

Big Tech, The Big Four and startups are in a land grab.

Illustration of an upside-down wallet pouring out carbon dioxide molecules

Climate tech

Last updated May 18, 2023The emissions tracking software spaces remains a land grab with well-funded startups taking on the Big Four and Big Tech in a David vs. Goliath battle. <ul><li>TBD on who will actually emerge as a leader in the space, but recent developments include:</li></ul>

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State of play: Emissions tracking software

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