By 2030, Ikea, Microsoft, Apple, KPMG, the BBC and Burger King all have grandiose aims to become net zero. These companies are not alone in their commitment to sustainability. In fact, 21 percent of the world’s largest 2000 public companies have committed to meeting net zero targets. And regardless of whether these goals are intended as a publicity stunt or an honest concern for the environment, data to make carbon offsetting decisions is instrumental for businesses to take considered action. This is what Sylvera aims to tackle. Founded by Dr. Allister Furey and Samuel Gill, Sylvera is the world’s first carbon offset ratings provider. It leverages geospatial data, machine learning and proprietary climate data to create a reliable and transparent assessment of carbon offset projects.
We backed the team last year with the strong conviction that Allister and Samuel had what it took to bring a new level of transparency to a market that is expected to grow tremendously over the next few years. After months of hard work building and scaling their platform, we are thrilled to congratulate the entire Sylvera team today on raising a $7.8M seed round led by our friends at Index Ventures with participation from SpeedInvest and Revent. Prominent angels include existing and former CEOs of NYSE, Thomson Reuters, Citibank and IHS Markit.
“We founded Sylvera because we believed that in order to reach net zero, the world will require a well-functioning and scalable carbon offset market,” Allister says. “Such a market will only work if all participants can trust in the projects they are trading.” To build this trust, Sylvera is establishing key partnerships with research organisations including UCLA, the NASA Jet Propulsion Laboratory, and University College London. These relationships will enhance tracking tools for nature-based carbon offsetting projects and, in doing so, enable the industry to become more transparent for all stakeholders.
“We fundamentally believe that if you can’t measure it or track it, it’s very hard to act on it,” Seedcamp Managing Partner Carlos Espinal comments. “In that spirit, we backed Sylvera for the bold vision they have to provide clarity on offset decisions and confidence in choices companies have in pushing for positive climate impact.”
Funds from this seed round will go toward further expanding Sylvera’s technology platform and deepening relationships with all market participants. If you’re interested in learning more or joining the Sylvera team, check out openings here.