SINAI Technologies bags USD 22 Mn funds for solving emission issues

By Garima Soni  | Date: 2022-09-28

SINAI Technologies bags USD 22 Mn funds for solving emission issues

SINAI Technologies, a U.S.-based company that develops technology to assist businesses in measuring their carbon emissions and providing recommendations for mitigating them, has reportedly raised USD 22 million in the latest fundraising backed by Energize Ventures, and other investors to support growth.

Notably, the USD 37 million Series A early-stage capital round, which also included Japanese-owned investment firms NEC Translink Capital and Presidio Ventures, would be used to accelerate the international growth of the company and to expand its staff of climate experts.

In an era where more businesses are making net zero commitments, the tech firm seeks to assist businesses to automate the way they are monitoring and pricing carbon analysis to better compute their emissions.

The CEO & Founder of SINAI, Maria Fujihara, mentioned that it was interesting how the financial sector all of a sudden was wanting this kind of information to be shared, citing a large number of requests to join the company.

Clients like Toshiba Corporation, ArcelorMittal S.A., and Siemens AG may gather financial and environmental data before suggesting methods of reducing emissions across thousands of projects in various industries like steel, cement, transportation, and agriculture with the help of the company's technology.

According to Fujihara, SINAI chose to go after the hardest industries with the strongest answers imaginable, but ultimately, the choice of where to invest rests with the businesses.

According to Eileen Waris, principal at Energize Ventures, SINAI has carved a niche for itself in the climate sector that may be described as early-stage business, but there was no doubt of the company advancing to the next phase of funding.

For those unaware, SINAI Technologies was established in 2017 with the goal of giving businesses access to the technologies they need to develop deep decarbonization plans.

 

Source Credit:

https://financialpost.com/pmn/business-pmn/sinai-technologies-raises-22-mln-backed-by-energize-ventures#:~:text=U.S.-based%20SINAI%20Technologies%2C%20which%20produces%20technology%20to%20help,Ventures%20to%20fund%20growth%2C%20it%20said%20on%20Tuesday.

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Garima Soni     aeresearch.net

Garima Soni

Despite starting her career in science, Garima always had a zeal for writing. She started out her writer journey as a freelancer which eventually turned into a full-time job. Now as an upcoming MBA professional, Garima pens down articles for BonafideNews and several o...

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