Sinai Technologies, a San Francisco, CA-based decarbonization platform, earlier in the week closed a $10M seed funding. This raise was spearheaded by Obvious Ventures with significant participation from Climactic, Ajax Strategies, High Alpha, Valo Ventures and other angels. The existing investors who participated in the seed funding round include MCJ Collective, Afore Capital, and Climate Capital.
The firm intends to use the money to continue scaling its decarbonization platform and launch new modules and tools for firms to achieve net-zero targets via automating processes to price, monitor, analyze all existing risks, and reduce carbon emissions.
Sinai, led by CEO Maria Fujihara, offers a platform for firms to decarbonize value-chain-wide emissions by supporting more intelligent carbon emission measurement, mitigation, reporting, and pricing. The firm has enabled organizations in most sectors, like steel, transportation, utilities, manufacturing, agriculture, transportation, and food and beverage to mitigate and measure their carbon emissions.
The Silicon Valley-based venture capital firm that doubles up as a certified B-Corp combines purpose and profit for a healthier, smarter, and more sustainable world. Sinai will also use the money to launch new modules and tools that empower firms to achieve the net-zero targets, in turn, reducing carbon emissions.
SINAI’s CEO, Maria Fujihara, commented:
“We’re seeing a quick acceleration of the need for our technology across many sectors and geographies, and this additional funding will enable us to scale at the speed of demand. Net-zero commitments are being made daily by companies, without a strategy for meeting these commitments.
Our platform enables companies to achieve their net-zero targets by not only identifying, but crucially forecasting and pricing, the most cost-effective decarbonization strategies. These strategies work for companies of all sizes, with the greatest decarbonization experienced by global companies with complex supply chains.”
On the other hand, Andrew Beebe, Managing Director, Obvious Ventures, stated:
“Obvious invests in companies solving humanity’s biggest challenges, and climate technology startups are on the frontlines. Sinai, helping global businesses bridge the gap between understanding one’s carbon footprint and taking action, is at the forefront of an emerging, enterprise-scale (de)carbon economy.”
This latest raise comes barely a year after the firm secured almost $4M in pre-seed funding from Abstract Ventures, Coelius Capital, Afore Capital, and PlanGrid founders. This news comes after the announcement that Sinai Technologies was chosen among hundreds others as one of the World Economic Forum’s “Technology Pioneers”.
The World Economic Forum’s Technology Pioneers are a chosen group of 100 early to growth-stage firms from throughout the world that are involved in using new innovations and technologies that are expected to have a considerable impact on society and business.