France-based, Sweep an online platform providing companies with tools to manage and reduce their carbon emissions across their entire business, raised USD 22 million on 14th December 2021.
Investors: The investment round was led by Balderton Capital, a leading technology venture capital firm with participation from New Wave, La Famiglia, and 2050. The company has raised USD 27 million so far.
Purpose of funding: The fresh funding will be used to meet high demands for Sweep’s products and promote sustainable climate programs created across Europe and beyond. A large portion of the funds will be used to develop high-quality products to increase customer satisfaction.
About Sweep
Founded in 2020 by Nicolas Raspal, Rachel Delacour, Raphael Güller, and Yannick Chaze, Sweep is located in Montpellier, France. Sweep is a carbon-emission management platform providing companies with tools to manage and reduce their carbon emissions across their entire business. Sweep’s clients are companies listed in the Financial Times Stock Exchange 500 (FTSE), and each is responsible for 30-50 million tons of CO2e per year. Sweep is helping them develop a science-based and data-driven climate program that addresses the climate emergency and forecasts the coming sustainability reporting regulations. As part of the Initiatives feature, the startup simulated different reduction strategies, distributed action steps to teams and partners. It analyzed its progress against climate goals to help enterprises identify the best carbon reduction roadmap. In addition, the company achieved full B Corp status due to its environmental and social responsibility and its commitment to ethical and legal practices.
What the founder has to say
“Reporting direct emissions is just the tip of the iceberg for the world’s largest corporations,” said Rachel Delacour, CEO and co-founder at Sweep.
“Sweep connects large enterprises with their entire network of business partners, staff, and suppliers to get a complete overview of their direct and indirect emissions. Our enterprise-grade tool is here to make carbon data collection, security, and analysis seamless and automated, so companies focus on reducing their carbon footprint and contributing to global net-zero efforts.”
What the investor has to say
“Sustainability is a huge priority for us at Balderton and Sweep’s mission and vision are perfectly aligned with our Sustainable Future Goals. When we looked at the market, we were incredibly impressed with the strength of Sweep’s team, and the thoughtfulness and maturity of their product. We’re excited to support them as they help companies to effectively take responsibility for their carbon footprints,” said Bernard Liautaud, Managing Partner at Balderton Capital. He has joined Sweep’s board of directors.
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