Unravel Carbon, the Singapore-based enterprise platform that helps companies track and reduce their carbon emissions, has raised $7.38 million (S$10 million) in its seed round.
The round, which Unravel claims to be the largest seed round ever raised by a climate tech software firm in Asia, was led by Sequoia India’s Surge.
Alpha JWC, XA Network, Rebel Fund (a fund by Reddit’s Steve Hoffman, Instacart’s Max Mullen and Cruise’s Daniel Kan), Global Founders Capital, Google’s Bradley Horowitz and others joined the round. Existing investor Amasia also re-upped in the seed financing.
The new round brings Unravel’s total raised since its inception in late 2021 to $8.75 million. Its earlier pre-seed round closed three months back and included YC and angel investors like Shopback’s cofounder Henry Chan; Rainforest’s cofounder JJ Chai, Syfe’s founder Dhruv Arora, 1880’s Luke Jones and TradeGecko’s Bradley Priest.
The company’s services include SaaS decarbonisation software and access to Unravel’s sustainability experts.
Unravel Carbon, a fresh Y Combinator alum, aims to build Asia’s largest repository of enterprise carbon datasets. Unravel Carbon co-founder and CEO Grace Sai said “we need a product-led solution that allows for speed and scale towards decelerating the impacts of climate change.”
It counts Temasek-backed salad chain SaladStop!, Indonesia’s grocery delivery startup HappyFresh and PropertyGuru among its clients. The company has recently expanded operations into the Australia and New Zealand markets – both countries with strong regulatory expectations on disclosure of emissions and climate change risk exposure.