Verse, a startup using AI and optimization for clean energy procurement, just raised $5.75 million. A startup using generative AI to help businesses buy renewable electricity has just secured a $5.75 million seed round from growth investor Coatue. Switching to renewable energy is fundamental in decarbonization as energy makes up the bulk of annual carbon emissions; two-thirds of energy still comes from fossil fuels. Many do this by purchasing renewable energy credits, which certifies that they have paid for green energy, but they have faced controversy for double counting. Clean energy procurement lacks dedicated tools and comes with "massive" overheads, which is exactly what Verse wants to change, cofounder and CEO Seyed Madaeni told Insider.

---

Persons: Seyed Madaeni, Madaeni, Rangwalla, Climeworks, Matt Rogers Organizations: Microsoft, Meta, Google, Excel, MCJ, Firstminute, Collaborative Fund, Incite.org Locations: San Francisco