Startup seeking "truth" in carbon offsets raises $33M

How it works: Sylvera says the funding will help its mission to become a "source of truth" in the carbon offset market via accurate ratings information.

• The company says it uses proprietary data and machine learning to provide "the most comprehensive and accessible insights and market intelligence."
• Customers thus far include Salesforce, which is also an investor, Delta Airlines, Shell and Cargill, the company said.

What's next: The company hopes to become the equivalent to Moody's for the carbon credits market, and says its team has expertise in artificial intelligence, geospatial technology and other relevant fields.

What they're saying: CEO Allister Furey, in a blog post on the funding, said better data and transparency can make offsets a more effective tool against climate change.

• "If weaker credits are removed from the market or discounted, supply tightens," he writes.
• "When buyer confidence in quality increases, demand, and willingness to pay, grows."