Enterprise Sustainability Platform StepChange Raises Over $4 Million In Seed Funding The funds raised will be directed towards enhancing StepChange's region-specific carbon accounting models, driving product development, and accelerating growth in India and key international markets
By Teena Jose
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StepChange, a top-tier corporate sustainability platform, has secured over $4 million in Seed funding led by BEENEXT and Global Founders Capital. The investment also saw participation from a group of global investors including Genesia Ventures, Whiteboard Capital, Saison Capital, Seedstars, Antler, and Speciale Invest. The funds raised will be directed towards enhancing StepChange's region-specific carbon accounting models, driving product development, and accelerating growth in India and key international markets.
"StepChange was built to address a critical need in the market: businesses lacked a reliable and effective way to navigate the complex landscape of sustainability and NetZero Transition. We have over 10 dedicated climate researchers on our team to ensure that we are able to create the most reliable and cost efficient solutions for businesses to become sustainable and achieve their sustainability goals. We are proud to be the sustainability partner of choice for some of the largest Indian enterprises and plan to take our offerings international very soon," said Ankit Jain, co-founder and CEO, StepChange.
StepChange has one of the largest India-specific carbon accounting databases, with over 75,000 emission factors for various products and services, and has enabled leading enterprises to account for over 250 million tCO2e in aggregate, equivalent to over 7.5% of India's emissions. The platform is working with some of the industry's most prominent players, including ICICI Bank, one of the country's largest private sector banks, ITC Limited, India's leading FMCG conglomerate, and SBI, India's largest public sector bank, across their value chains and portfolios, claimed by the company in a statement.
"StepChange's innovative approach to corporate sustainability focuses on region-specific carbon accounting models and platforms. We believe this approach will be a game-changer in the global effort towards tackling climate change. We look forward to supporting StepChange as they continue to empower individuals, organisations, and other entities to make data-driven decisions for a sustainable future," said Anirudh Garg, investor, BEENEXT.
