Pathzero Secures $8.6 Million From Carthona Capital
The fund raised will be used by the company to double down and deliver an unparalleled experience to those clients while continuing to grow their network both in Australia and globally through further strategic partnerships
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Pathzero, a company specialising in the measurement and management of financed emissions, has raised AUD $8.6 million in Series A+ round, bringing its total Series A funding to $15.6 million. The round was led by high-profile investor Carthona Capital, along with Clyde Bank Holdings, Antler, as well as a number of individual investors and internal executives of the company. This funding will help the company to double down and deliver an unparalleled experience to those clients while continuing to grow their network both in Australia and globally through further strategic partnerships.
"Since the roll-out of Navigator we have seen immense interest from the market and have closed some cornerstone deals. This interest reflects the critical need for technology that enables collaboration between businesses to solve the scope 3 challenge at scale. The game changer for us has been to go beyond carbon accounting and create a carbon information network allowing firms to engage and collaborate with their portfolio companies to bring down emissions," said Carl Prins, CEO of Pathzero.
Since inception in 2020, Pathzero has set the standard for corporations and financial institutions to understand and act on their emissions and it was recently recognised as a rising star in the Deloitte Fast Tech 50 awards, claimed by the company in a statement.
"After first investing in Pathzero over a year ago, we've seen the company go from strength to strength. We have every confidence in what their tech offering brings to the wider financial industry and are proud to be early adopters of their services ourselves. As regulation intensifies across sectors, we are looking forward to the years ahead as monitoring and reducing financed emissions becomes second nature to financial institutions," said Dean Dorrell, partner at Carthona Capital.