[Funding alert] Climes raises $1.2 mn in funding from Sequoia Capital India, others

Climes, a climate technology firm, announced on Tuesday that it has raised $1.2 million in funding, with Sequoia Capital India, Kalaari Capital, Nithin Kamath (Zerodha, Rainmatter), and Avaana Capital serving as the company’s lead investors.

Keshav Reddy (Reddy Futures), Arjun Gupta (Smart Joules), Akshay Singhal (Log9 Materials), Satyen Kothari (Cube Wealth), and Anshuman Bapna (Terra.do) from Stanford Angels are participated in the round.

In order to develop a road map for businesses to become the market leaders in climate change, Climes aims to use the funds to increase brand synergies with the fashion, food, travel, beauty, and personal care industries. They will also modernise its technology to enable transparent assessment and reporting of impact as well as speedy adoption of climate solutions in India, according to The Economic Times.

Read also – [Funding alert] Lightbulb.ai Raises USD 1.5 Million in Pre-seed Funding Round

Climes, founded by Anirudh Gupta (ex-Airbus) and Siddhanth Jayaram (ex-Kalaari Financing), partners with consumer brands that want to go climate-friendly.

“With this capital raise, Climes is building the necessary digital infrastructure to enable a big chunk of the money to flow transparently and design the right incentives for market players to benefit. The delta of each rupee/dollar/euro that flows through Climes will have an outsized multiplier impact on global carbon mitigation,” the cofounders said.

“The rising awareness for a carbon-neutral lifestyle and climate costs require urgent new solutions. Entrepreneurs offering solutions that are climate-sensitive can create key differentiating propositions. Sid [Jayaram] and Ani [Gupta] have lofty goals to bring climate awareness and action. Climes’ solution makes it possible for brands to embark on such a transition by allowing customers to carbon-neutralise every transaction,” said Vani Kola, managing director, Kalaari Capital.

“The ideal solution towards climate-change problems is to reduce consumption which may not be possible at all times. Making people aware of their carbon footprint and then making it available to offset that footprint can be a good mid-way path. We are excited to be a part of their journey and learn ourselves along the way,” Nithin Kamath, founder, and CEO of Zerodha & Rainmatter said.

About Climes

What is the first thing that comes to mind when you hear climate change? Hotter summers, colder winters, untimely rains and floods? This may seem like the obvious answer. But these are, in fact, symptoms of climate change.

The true cause of climate change is carbon emissions. And those are far more difficult to picture. So how do we go about remediating something we can’t see? This is where Climes comes in.