SINAI helps companies cut emissions and reallocate capital
ArcelorMittal, Natura, Toshiba, Siemens among SINAI
Presidio Ventures, NEC Translink Capital take part in
Sept 27 (Reuters) - U.S.-based SINAI Technologies, which
produces technology to help companies measure carbon emissions
and recommends ways of mitigating them, has raised $22 million
from investors including Energize Ventures to fund growth, it
said on Tuesday.
The Series A - early-stage - funding round, in which
Japanese-owned investment companies Presidio Ventures and NEC
Translink Capital also took part, brings SINAI's total funding
to $37 million, and will be used to speed up the firm's
international expansion and grow its team of climate experts.
SINAI looks to help companies automate the way they are
monitoring and pricing carbon analysis to better calculate their
emissions, at a time when a growing number of corporations are
committing to net zero.
"It's interesting how the financial sector all of a sudden
now is demanding this kind of information to be disclosed," the
group's Chief Executive Officer and Founder Maria Fujihara told
Reuters, citing a high number of requests to join SINAI.
The company's technology allows its customers, including
ArcelorMittal, Toshiba and Siemens,
to collect financial and environmental data before recommending
ways of mitigating emissions across thousands of projects per
industry - steel, transportation, cement or agriculture.
"We decided to go after the hardest industries with the
hardest solutions possible," Fujihara said. "But it's ultimately
up to the (companies) to decide where they are going to invest."
Eileen Waris, principal at Energize Ventures, said that
SINAI had cut through a climate space which could be considered
as "crowded" by early-stage companies.
"I have no doubt they will make it to the next round of
funding," she stated.
(Reporting by Juliette Portala ; Editing by Carolyn Cohn and