Carbon management company Carbonstop secures 100 million yuan in Round-B financing

Beijing-based Carbonstop, a provider of emissions management software and advisory solutions, announced on Aug. 1 that it had completed a funding round B worth 100 million yuan (14, $82 million), led by Sequoia China and followed by its original shareholders GL Ventures and Matrix Partners.

Carbonstop was created in 2011 to encourage many industries to calculate, manage and reduce carbon emissions to finally achieve carbon neutrality. The newly raised funds will primarily be used for R&D of its core carbon management software and expansion of consulting, marketing and business teams.

Starting in 2020, the Chinese central government is pursuing the dual goals of achieving national peak carbon in 2030 and full carbon neutrality by 2060. With the continued promotion of these goals, not only energy-intensive enterprises such as electricity and cement companies have started to manage their own carbon emissions data, but also internet companies, financial institutions, consumer brands and real estate groups. These companies that were not required to manage their emissions successively proposed their own carbon neutrality objectives to control their emissions data internally.

Tsinghua University and China International Capital Corporation Limited (CICC) previously predicted that over the next 30 years, China’s investment in carbon neutrality will reach about 140 trillion yuan ($20.748 trillion). dollars).

As for the products, Carbonstop initially launched the carbon management software CAMP, which launched the latest attempt to digitize carbon management, and then launched the carbon management SaaS platform “Ccloud”. The platform covers functional modules such as enterprise carbon accounting, product carbon footprint, supply chain carbon management, carbon asset management, carbon account platform, online certification and carbon neutral services.

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Over the past eleven years, the company has served more than 1,200 customers, including BaiduAli BabaTencentByteDance, Meituan and JD.com. It has also established system-level ecological cooperation with the National Institute of Standardization of China and the internationally renowned LCA database EcoInvent in recent years.

The company has accumulated a carbon emission factor database containing more than 150,000 data items from more than 200 countries around the world, and it will gradually be open to all users.

Michael J. Birnbaum