Greenly, a French startup that provides companies with solutions to measure and reduce their carbon footprint, has raised €21 million in a Series A funding round. The round was led by XAnge and Energy Impact Partners (EIP). Greenly was founded in October 2019 by Alexis Normand, Matthieu Vegreville, and Arnaud Delubac. After launching their first app for consumers, the startup released its software suite for small and medium-sized businesses in 2021. The software allows companies to quantify the carbon emissions generated by their activities by integrating over 100 business software applications. The data used comes from energy suppliers, data center operators, and e-commerce software providers.
With this funding, Greenly plans to expand the commercialization of its solution and improve its software. The company also plans to expand its presence in Europe and the United States with the goal of tripling its workforce. Energy Impact Partners is a global investment platform that supports companies developing new energy technologies, while XAnge is a Paris-based venture capital firm that invests in early-stage startups.
Greenly's mission is to help companies measure and reduce their carbon footprint by providing them with the tools they need to understand the environmental impact of their operations. The company's software suite allows businesses to take a more data-driven approach to sustainability, enabling them to identify areas where they can make changes to reduce their carbon emissions.
This funding round is a significant milestone for Greenly, as it will enable the company to expand its operations and reach more businesses around the world. As companies become more aware of the need to reduce their carbon footprint, the demand for solutions like Greenly's is expected to continue to grow. By helping businesses become more sustainable, Greenly is playing a key role in the transition to a more environmentally friendly economy.