Exclusive: Sequoia’s Surge leads $7.4m round of SG climate-tech firm

Unravel Carbon, a Singapore-based startup focused on climate tech, has raised US$7.4 million in its seed round led by Sequoia India’s Surge.

Investors including Alpha JWC, Amasia, XA Network, Rebel Fund, Global Founders Capital, and Google executive Bradley Horowitz also took part in the fundraise, Unravel Carbon told Tech in Asia. With the latest investment, the company’s total funding is now at US$8.75 million. 

The Unravel Carbon team / Photo credit: Unravel Carbon

Unravel Carbon focuses on helping Asian companies track and reduce their carbon emissions, with a specialization in Scope 3 carbon emissions. Its services include a software-as-a-service decarbonization platform and access to Unravel’s sustainability experts. 

The Y Combinator graduate firm converts companies’ accounting data into full supply chain carbon data and generates customised climate pathways to ‘net zero’ with climate solutions, and auto-populates regulatory disclosure reports. It aims to build Asia’s largest repository of enterprise carbon datasets.

The company was founded by Grace Sai and Marc Allen. While Sai has exited Impact Hub Singapore and Ravel Innovation as founder, Allen has helped companies like Shell, Unilever and BP with their sustainability strategies.

“It is unlikely that we will achieve the goals set by the Paris Climate Agreement if only 10,000 out of over 400 million companies globally are measuring their carbon profile, with even fewer reducing it,” Grace Sai, co-founder of Unravel Carbon, said in her statement. “We need a product-led solution that allows for speed and scale towards decelerating the impacts of climate change.”

The company aligns with globally recognized standards for emissions inventory development, such as the GHG Protocol and ISO 14064, and it uses calculation methodologies from the Intergovernmental Panel on Climate Change. Unravel Carbon’s output will be interrogable and auditable, with supporting documentation for external assurance audits being automatically generated by the platform.

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The startup’s clients include Temasek-backed SaladStop, proptech major PropertyGuru, and Indonesian grocery delivery startup HappyFresh. 

Unravel Carbon recently expanded its operations into Australia and New Zealand – countries with strong regulatory expectations on emissions disclosure and risk exposure for climate change.