StepChange, a leading corporate sustainability platform, has recently announced a successful round of Seed funding, securing more than $4 million. This investment was spearheaded by BEENEXT and Global Founders Capital, with noteworthy participation from a range of global investors such as Genesia Ventures, Whiteboard Capital, Saison Capital, Seedstars, Antler, and Speciale Invest. These funds are slated for strategic allocation, fueling the enhancement of StepChange’s region-specific carbon accounting models, stimulating product development, and expediting growth in India as well as significant international markets.
StepChange was conceived to fill a pivotal gap in the market, providing businesses with a trustworthy and efficient means to traverse the intricate landscape of sustainability and NetZero Transition. Boasting a team of over 10 dedicated climate researchers, StepChange has cemented its role as the preferred sustainability partner for numerous top-tier Indian enterprises, with plans to internationalize its offerings on the horizon, stated Ankit Jain, co-founder and CEO of StepChange.
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Housing one of the most comprehensive India-centric carbon accounting databases, StepChange has over 75,000 emission factors for an extensive range of products and services. To date, it has enabled major enterprises to account for over 250 million tCO2e cumulatively, equating to more than 7.5% of India’s emissions. StepChange’s significant collaborations extend across the value chains and portfolios of industry giants, such as ICICI Bank, ITC Limited, and SBI. Its innovative focus on region-specific carbon accounting models is poised to become a pivotal force in global efforts to mitigate climate change, added investor Anirudh Garg of BEENEXT.