London-based net zero intelligence company raises £2m in funding

London - Faradai, a London-based net zero intelligence company, raised £2m pre-Series A to expand its carbon & energy analytics solutions globally and to develop further their Net Zero software offering with AI & IoT-Powered tools.

Edenbase from the UK and Sangha Capital based in Switzerland were the lead investors in the round. Bill Tai, the early-stage investor of Zoom and Canva, participated with his Silicon Valley-based fund, ACTAI Ventures.

UK-based prop-tech fund Goldacre and Singapore-based technology fund EthAum Ventures were also significant contributors, together with additional funding from multiple investment professionals from Goldman Sachs UK and angel investors from the UAE, Turkiye, and India.

The Faradai platform simplifies consolidation of environmental, operational and financial data from departments, facilities and companies’ entire value chain.

Not only does Faradai help organisations reach net zero following the Science Based Targets Initiative’s and GHG Emission Standards guidelines, but it also helps deploy decarbonisation projects. The Faradai platform monitors the ongoing project ROI and performance with IoT-powered, data-driven energy intelligence.

Faradai founders Sahin Caglayan, Burak Sefer and Utku Simitli state their mission as driving climate action through data and insight. “Many organisations have committed to net zero targets, with many others seriously looking at how they can improve the sustainability of their business and operations. However, setting targets is only the first step.

“Constructing a credible and achievable plan for monitoring, reducing, or eliminating Scope 1, 2 & 3 emissions is a huge challenge for even the largest organisations.’’

On the expansion plans and further uses of the funds, co-founder & CEO Sahin Caglayan stated, “This funding will allow us to accelerate the advancement of our Net-Zero Intelligence Platform, expand our sustainability subject matter expertise through specialists and data scientists, and allow us to expand faster internationally, particularly in the UK, Europe, MENA and APAC regions.”

By Mark Adair – Correspondent, Bdaily