Japan climate tech firm bags $22.8m to enhance CO2 management

Photo credit: Asuene

Japan-based Asuene has raised 150 million yen (US$1.1 million) in the latest close of its series B financing, bringing its total funding for the round to about US$22.8 million.

This final close saw participation from Sony Innovation Fund and a third-party allocation of new shares – where equity is directly issued to designated investors – from GMO VenturePartners, Masayuki Mochida, and GLIN Impact Capital.

The climate tech startup – which was founded in 2019 by Kohei Nishiwada and Yoshihiro Iwata – helps corporates engage in decarbonization and environmental, social, and governance (ESG) management.

The firm said Asuzero, its carbon dioxide (CO2) reduction, reporting, and management cloud service, is growing at an average of over 90% per month. It has also onboarded more than 2,500 clients and 70 partner firms.

The fresh funds will be used to expand the company’s team, develop new businesses, and bolster its overseas expansion. Asuene will also look to extend its specialized services in supply chain CO2 for manufacturing and related industries.

The company has recently established Asuzero Singapore, appointing ex-Meta head Masaaki Hamada as country manager.

See also: Can Indonesia’s ESG startups benefit from G7’s $20b commitment?

Currency converted from Japanese yen to US dollars: US$1 = 136.4 yen