Home Personal Finance Maintain.Life broadcasts $16m seed funding

Maintain.Life broadcasts $16m seed funding

Sustain.Life announces $16m seed investment

Sustainability platform Maintain.Life has introduced a $16 million (€15.36 million) seed funding, with Irish co-founder Mike Hanrahan main the spherical with Tapestry VC.

The spherical, which additionally had participation from Energetic Influence Investments, Kompas, Agya Ventures and Seyen Capital, will use the cash to speed up its hiring, software program growth and buyer acquisition.

Based by Mr Hanrahan, founding father of Jet. com, Annalee Bloomfield, Alyssa Rade and Patrick Campagnano, the corporate is designed to assist SMEs to take local weather motion that can have an effect.

The platform makes it simpler and extra reasonably priced to measure, handle and report carbon emissions and environmental influence, giving groups with out experience the flexibility to measure environmental influence from inner operations, handle their emissions by way of operational adjustments in power, water and waste, and cut back their footprint, and report their progress to clients, traders and workers.

Sustainability programmes

“Many main companies have the sources to put money into sustainability initiatives, however most corporations lack the sources to launch profitable sustainability programmes. That’s the reason we got down to construct a platform that might be extra accessible from a usability and price perspective,” Mr Hanrahan mentioned.

Mr Hanrahan, initially from Co Wexford, beforehand based ecommerce web site Jet.com, and oversaw its sale to Walmart. Maintain.Life was based after Mr Hanhrahan led Walmart’s Clever Retail Lab, with Ms Bloomfield as senior director, head of product and buyer expertise, and Mr Campagnano as head of engineering. The group introduced in ESG knowledgeable Alyssa Rade to function the corporate’s chief sustainability officer. The platform was launched in November 2021.

Local weather change

“Collectively, small and medium-sized enterprises represent a major quantity of the greenhouse gasoline emissions contributing to local weather change. Immediately, most of those corporations lack the experience and sources to take local weather motion,” Ms Rade mentioned. “Not solely does inaction have adverse penalties for the planet, it has adverse enterprise impacts for these corporations too, together with larger prices and larger threat.”

Cofounder and managing accomplice of Tapestry VC Patrick Murphy mentioned Maintain.Life was bringing distinctive insights on actual issues skilled by actual companies which needed to handle local weather accounting.

“The carbon accounting and offsets trade is shifting from a advertising train and cottage trade to a key bastion within the international combat towards local weather change, accelerated by a latest trade and regulatory reawakening on the problem,” he mentioned.

It has gained clients throughout sectors corresponding to meals and beverage, electrical automobiles and fintech, together with digital buying and selling platform Interactive Brokers, software program firm Avetta and the Sustainable Hashish Coalition.

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