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Introduction
In a significant development for the climate tech sector, Plan A, a carbon accounting and ESG (Environmental, Social, and Governance) reporting platform, has raised $27 million in a Series A round of funding. The investment was led by US VC giant Lightspeed Venture Partners and marks an extension of the company’s previously announced $10 million Series A round. With this fresh capital, Plan A’s total raised now stands at $42 million across its six-year history.
A SaaS Solution for Net-Zero Goals
Plan A is a Software-as-a-Service (SaaS) platform that helps corporations achieve their net-zero goals by providing them with a comprehensive suite of tools and services. The company’s platform enables organizations to track, measure, and reduce their carbon footprint across various sectors, including energy, transportation, and supply chain management.
Regulatory Pressures Driving Demand for Climate Tech Solutions
The severity of the accelerating climate emergency is driving regulatory pressures on enterprises to change course before it’s too late. European governments have implemented policies and regulations favoring clean tech, offering incentives and subsidies to attract investors. Large corporations are also making sustainability commitments, driving investments in startups that align with their goals.
Key Takeaways
- Plan A has raised $27 million in Series A funding, led by Lightspeed Venture Partners.
- The investment marks an extension of the company’s previously announced $10 million Series A round.
- With this fresh capital, Plan A’s total raised now stands at $42 million across its six-year history.
Related News
- Climate Tech Investing: Despite macroeconomic factors and shifting investor preferences, climate tech continues to attract significant investment. According to Dealroom data, the overall share of VC dollars growing from 10% to 13% in the past year.
- Regulatory Pressures: European governments have implemented policies and regulations favoring clean tech, offering incentives and subsidies to attract investors.
- Sustainability Commitments: Large corporations are making sustainability commitments, driving investments in startups that align with their goals.
Conclusion
The investment in Plan A reflects the growing demand for climate tech solutions among corporations. As regulatory pressures continue to intensify, companies like Plan A will play a crucial role in helping enterprises achieve their net-zero goals. With this fresh capital, Plan A is well-positioned to expand its offerings and increase its market share in the climate tech sector.
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