Climate tech startup Pledge has raised £8m in Series A funding to develop its decarbonisation software, which aims to help supply chain and logistics businesses meet their sustainability goals.
London-based Pledge provides accredited tools for supply chain leaders and freight forwarders to understand, report, reduce and remove their logistics emissions.
The platform also includes features that guide users through the emissions calculation process to ensure calculations are auditable.
Supply chain emissions account for over 70% of the total GHG emissions for large and medium-sized businesses, whilst the logistics industry represents 11%.
David de Picciotto, co-founder and CEO at Pledge, said: “We started Pledge with the belief that technology can be a powerful lever in the fight against climate change.
“This funding round enables us to continue building best-in-class products to help accelerate businesses’ transition to net zero and remove gigatons of carbon from the atmosphere.”
The funding round is being led by Zinal Growth, with new investors including Base Partners, Ace & Company, as well as founders from B2B SaaS companies and veterans from the logistics industry, including Dirk Reich, former member of the management board at Kuehne+Nagel.
They join existing investors Lowercarbon Capital and Visionaries Club. It brings Pledge’s total funding to $14.5m.
Guillaume Waser, managing partner at Zinal Growth, said: “Pledge’s product-led approach and vertical focus makes it a really exciting company in a new and growing space.
“With a product built on simplicity, scalability and transparency, the founders have drawn aspects from their background in highly regulated and complex industries like payments and capital markets and applied them to the world of climate tech.
“They are taking an approach usually seen in vertical B2B SaaS companies and are applying it to impact some of the biggest emitting industries in the world.”
Pledge has already partnered with a range of logistics and freight-forwarding customers including Ligentia, Raft and Zencargo.