press release
Paris, October 28th, 2021– Innovacom, a venture capital pioneer in France, announces its participation, via its fund Avenir Numérique, in the $10 million capital funding round initiated by SustainCERT, a player on the carbon emissions accounting and certification market.
Dedicated to supporting innovative tech start-ups that stand out as trailblazers in the environmental, economic and industrial transition, Innovacom is acquiring a stake in SustainCERT alongside Citizen Capital and the Microsoft Climate Innovation Fund.
Founded in 2018 as a spin-off from the Gold Standard Foundation, a standard-setter in the field of requirements and methodology for measuring and verifying the impact of carbon emission reduction projects, SustainCERT is ideally positioned to become a leading supplier of tech-driven greenhouse gas certification and carbon footprint calculation solutions for corporate clients. By participating in the start-up’s $10 million funding round, Innovacom intends to support its growth amid a robust context characterised by increasing demand for credible, affordable and accessible carbon emissions measurement solutions grounded in best practices.
SustainCERT’s 50-member team is developing two types of solutions intended to calculate, verify, transfer and declare GHG emissions, as well as reductions in CO2 emissions. Initiatives focus on automation and digitisation of the carbon credit certification process, as well as an emissions factor management software designed for companies (Corporate Value Chain). The solutions offered aim to limit human intervention to the bare minimum by digitising all emissions calculation methodologies and relying on connected devices (smart meters, sensors) and satellite imagery to collect data.
SustainCERT boasts an experienced management team featuring complementary backgrounds:
- Marion Verles, CEO and co-founder, has more than 12 years of experience in the carbon markets. Formerly CEO of Gold Standard, where she oversaw the launch of GS4GG (Gold Standard for the Global Goals) and the design of the Value Chain solution, she also successfully pioneered the first cooperative carbon credit intermediation platform in 2011.
- Patrick Hilt, CTO, has more than 20 years of experience in IT and web development (Head of Engineering at Skype, CTO of Miracl, CTO of KNEIP, CTO of Raisin) as well as a background in entrepreneurship (Phitronix Inc., Aftertising and Mezz0.com).
Benjamin Wainstain Partner at Innovacom“If we are to achieve the emissions reductions set out in the Paris Agreement, it is urgent to inject a dose of trust and transparency into the voluntary carbon markets,” explained Benjamin Wainstain, partner at Innovacom. “Among the many companies focusing on this subject, SustainCERT has a clear edge thanks to a highly experienced team with strong ties to a worldwide ecosystem. Building on its initial activity centred around certification of carbon credits according to the highest standards, today SustainCERT is extending its offer to include value chain monitoring: producers can thus highlight their climate commitments among clients, who will in turn enjoy true environmental traceability for their purchases. SustainCERT perfectly illustrates Innovacom’s commitment to harnessing the power of digital technologies for the environment, health and security through innovative players who can take action on a global scale.”
Marion Verles CEO & Co-founder of SustainCERTThe upswing in climate commitments represents a turning point in global awareness of the need to shrink carbon emissions to zero.
Innovacom’s support reinforces our conviction that our tech-based solution has the potential to make SustainCERT a leader on its market.”
ABOUT INNOVACOM
Since 1988, Innovacom has invested close to one billion euros, supported more than 300 digital startups, participated in more than 20 Initial Public Offerings and completed 150 industrial disposals.
Innovacom has contributed to several recent successes in a diverse range of sectors: electric vehicles (G²mobility), ad tech (Videoplazza), medical imaging (Olea Medical), digital customer relations (Dimelo), connectivity in trains (21Net Ltd), materials for energy transition (Exagan) or components for smartphones with the Heptagon unicorn.
Innovacom is currently supporting high-potential companies such as Acklio, Antaïos, Aryballe Technologies, Aura Aero, Avicenna.ai, CAILabs, Cozy Cloud, Exotrail, Intersec, Iten, MicroEJ, Matrixx Software, OSO AI, Robart, Upciti or Scintil Photonics.
Its recent association with the Turenne Group, one of France’s leading independent private equity firms, has resulted in a €1,2 billion platform under management.
Present in Paris and Marseille, Innovacom is a company certified by the Autorité des Marchés Financiers.
www.innovacom.com // @innovacomvc
Laurence Tovi
Taddeo
laurence.tovi@taddeo.fr
Wandrille Clermontel
Taddeo
Wandrille.clermontel@taddeo.fr
