ClimateTech startup Climes raises $1.2 million in Its 1st round of funding from Sequoia Capital India, Kalaari Capital

• ByStartupStory     |    July 5, 2022

Climes, a climate technology firm, announced on Tuesday that it has raised $1.2 million in funding, with Sequoia Capital India, Kalaari Capital, Nithin Kamath (Zerodha, Rainmatter), and Avaana Capital serving as the company’s lead investors. Keshav Reddy (Reddy Futures), Arjun Gupta (Smart Joules), Akshay Singhal (Log9 Materials), Satyen Kothari (Cube Wealth), and Anshuman Bapna (Terra.do) from Stanford Angels are additional investors in the round.

In order to develop a road map for businesses to become the market leaders in climate change, Climes wants to use the funds to increase brand synergies with the fashion, food, travel, beauty, and personal care industries. They will also modernise its technology to enable transparent assessment and reporting of impact as well as speedy adoption of climate solutions in India. Climes, created by Anirudh Gupta (ex-Airbus) and Siddhanth Jayaram (ex-Kalaari Financing), aspires to open up an untapped source of capital in response to the urgent need to finance climate change.

Climes is creating the essential digital infrastructure with this capital raise in order to make a significant portion of the money flow transparently and create the ideal incentives for market participants to profit. The cofounders stated in a statement that the delta of each rupee, dollar, or euro that travels through Climes will have an enormous multiplier effect on global carbon mitigation.

“New solutions are urgently needed in light of the growing demand for a lifestyle free of carbon emissions. Entrepreneurs who offer environmentally conscious solutions might develop distinctive selling points. Sid Jayaram and Ani Gupta have high ambitions to promote climate awareness and action, according to Kalaari Capital managing director Vani Kola. By enabling customers to carbon-neutralize every transaction, Climes’ service enables brands to achieve such a transformation.

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