Sydney-based Pathzero, today announced it has closed a US$5m investment round, led by Australian venture firm Carthona Capital. This significant round of financing is supported by early investors including Antler Australia and Impact Investor, Phil Vernon. Former Managing Director of Commsec, Paul Rayson is one of several new investors placing the company in prime position to execute its global vision.
Since their A$1m seed round in September 2020, Pathzero have moved swiftly to build the platform that, in combination with a sustainability expert, provides a vastly more accessible way of measuring corporate carbon emissions, implementing an emissions reduction plan, purchasing verified carbon credits and disclosing carbon emissions information publicly. With their innovation in portfolio emissions transparency already working in Australia, this funding will enable their vision to be executed globally.
Carl Prins, Co-Founder and CEO at Pathzero said “For asset managers, accessing emissions data for a portfolio of small listed and unlisted companies has been very challenging. The expense of performing an assessment and the lack of consistency in reporting has meant that greenhouse gas emissions information has simply not been available.”
“Gaining direct access to portfolio company emissions information is revolutionary as it by-passes the traditional flow of information from companies to active institutional investors.”
“Pathzero believes that by providing corporate carbon transparency, companies will be equipped to make confident strategic decisions about their transition to a low carbon paradigm, with the support of their informed stakeholders,” said Mr Prins.
Charbel Ayoub, Co-Founder and CTO at Pathzero said “The Platform has been designed to enable people, who may be new to sustainability, to create a certifiable measurement of their carbon account. This means they can make informed business decisions and have confidence in their public carbon emissions disclosures.”
Dean Dorrell, Partner at Carthona Capital said “We have been looking for an investment in the carbon tech sector for a long time. We have had a thesis that carbon measurement, reporting and offsetting would transition from an altruistic, “good citizen” responsibility to becoming all that and good business. It is clear that time has come, and we believe all businesses will need to show their carbon credentials to retain or attract customers – from the ASX20 down to the smallest business. Pathzero has already shown incredible vision and execution and has massive growth ahead of it. We couldn’t be more pleased to be partnering with Carl, Charbel and the team to help them build a globally significant business.”
Anthony Millet, Global Partner at Antler Australia said “We’ve supported the Pathzero team since inception and watched demand for their solution increase at great magnitude. We’re excited to back the team again and support their mission to have a tremendous global impact.”
Nigel Freitas, Head of Corporate Affairs at Brighte said “This experience has enabled us to implement an auditable and thorough process, fulfilling our initial commitments and also kicking off a further discussion around sustainability initiatives at Brighte.”
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Megan Styles, Marketing Director – Megan@pathzero.com
Carl Prins, Co-Founder & CEO – Carl@pathzero.com