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In 2021, the clothing brand teamed up with the carbon-accounting startup Watershed to track carbon emissions, mostly from Everlane's supply chain, using data collection. Everlane is one of several companies using carbon-accounting startups to track emissions and put a dollar amount on their carbon footprints. Investment by venture-capital firms in carbon-accounting startups surged from $60 million in 2020 to $767 million in 2022, according to PitchBook. But it's challenging to precisely monitor this since companies' emissions are not the same, and they often overlap. The startup works with small, midsize, and enterprise companies, including Virgin Atlantic.
Persons: Everlane, Katina, Maria Fujihara, Fujihara, Amelia Penniman, Benchimol, Lauren Gifford, Gifford, DoorDash, Michael Thornton, Thornton Organizations: Service, Fortune Business, Sinai Technologies, Bayer, Siemens, SINAI Technologies, Investment, BlackRock, Walmart, Greenhouse Gas Management Institute, US Environmental Protection Agency, International Energy Agency, Carbon Analytics, Greenhouse, Greenhouse Gas Management, Securities and Exchange Commission, Carbon Solutions, Colorado State University, Virgin Atlantic Locations: Sequoia, Airbnb, Sinai
SummarySummary Companies SINAI helps companies cut emissions and reallocate capitalArcelorMittal, Natura, Toshiba, Siemens among SINAI customersPresidio Ventures, NEC Translink Capital take part in roundSept 27 (Reuters) - U.S.-based SINAI Technologies, which produces technology to help companies measure carbon emissions and recommends ways of mitigating them, has raised $22 million from investors including Energize Ventures to fund growth, it said on Tuesday. "But it's ultimately up to the (companies) to decide where they are going to invest." Eileen Waris, principal at Energize Ventures, said that SINAI had cut through a climate space which could be considered as "crowded" by early-stage companies. "I have no doubt they will make it to the next round of funding," she stated. Register now for FREE unlimited access to Reuters.com RegisterReporting by Juliette Portala ; Editing by Carolyn Cohn and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.
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