8 June 2023
Paris, June 8, 2023 – Innovacom, a venture capital pioneer in France and long-standing investor in SustainCERT, is reinvesting in the company as part of a new $37 million funding round. A global leader in climate impact verification (reduction of greenhouse gas emissions), SustainCERT is looking to continue its development and further its worldwide expansion thanks to this fund-raising initiative led by Partech and Hartree Partners, alongside current investors Citizen Capital and Microsoft Climate Fund.
Since 2018, SustainCERT has been on a mission to bring credibility to climate impact claims through its unique independent impact verification offer, combining climate expertise with innovative, cutting-edge digital solutions. Innovacom participated in an initial $10 million funding round in 2021, its investment motivated by a firm conviction that SustainCERT’s highly experienced team, well established within a worldwide ecosystem, placed the company at the forefront of its industry.
Two years later, the growing weight of climate commitments signals a watershed moment for public awareness of the need to achieve zero carbon emissions. In this context, greater transparency and integrity are essential if carbon markets are to be successful. Moreover, as Scope 3 emissions reporting becomes more strictly regulated, independent verification will play a key role in ensuring climate impact claims are accurate and trustworthy.
Innovacom is thus reaffirming its support for SustainCERT, with a view to guiding the company as it launches the world’s first impact verification platform, while also helping business players bring credibility to their climate impact claims. The proceeds from this fund-raising initiative will support the scaling of SustainCERT’s recently launched value-chain decarbonisation solution for Scope 3 emissions, as well as its upcoming digital verification solution for carbon markets.
“We finance a number of industrial start-ups developing products designed to operate with substantially reduced carbon emissions. In an overarching context of urgent calls for climate action, we are proud to be supporting SustainCERT in its mission to bring transparency, credibility and accuracy to claims related to climate objectives. We welcome the arrival of new shareholders through this funding round, which will help the company further strengthen its leadership position on this market.”
explained Jérôme Faul, Chairman of Innovacom’s Management Board”