Climate Finance | April 26, 2022

Greenly secures $23 million to help small businesses cut carbon emissions

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, April 26 – Small businesses’ small carbon footprints add up. And as suppliers and distributors for larger corporations, measuring and managing their emissions is key to the low-carbon transition. Yet many small businesses lack the skills or time to do so.

French startup Greenly’s software helps small firms estimate emissions from energy usage and e-commerce services and collect data from their suppliers. Greenly aims to be for carbon tracking what Quickbooks is for small-business accounting.

Its $23 million Series A round was led by Energy Impact Partners and XAnge.

Carbon accounting

Plenty of startups are helping big businesses track and manage their carbon footprints. Swedish startup Normative, backed by Google, offers a version of its carbon emissions tracker for small businesses. SME Climate Hub has developed a carbon toolkit for small businesses. In Germany, Vaayu closed a seed round of $11.5 million to offer carbon-tracking software to retailers.

Also in Germany, Klima secured €10 million ($11 million) to help companies educate and empower workers to be more climate-minded and offset personal emissions.