In its Series A investment round, nZero (website), the top platform for near real-time carbon monitoring and accounting, raised $16 million. The leading asset management focusing on enhancing, future-proofing, and decarbonizing the built environment, Fifth Wall, and a national US energy firm, led the round. The limited partner of Piedmont Capital Investments, Inc. and the founder and co-chairman of KKR, Henry Kravis, are other investors.
The additional funding will allow nZero to expand its operations in response to the global public and commercial sectors’ increasing demand for more precise tracking and reporting of energy, financial, and greenhouse gas emissions data. With its near-real-time carbon management system, nZero is well-positioned to assist the increasing number of companies utilizing data to adopt and meet climate change targets.
Adam Kramer, CEO of nZero, stated that his company has a “proven history in providing the best near-real-time, granular data across all scopes of emissions, which business and government leaders can leverage for operational and capital planning, leveraging tax credits, and the evolving reporting standards.” Since we started, we’ve collected more than 1 billion data points from 10,000 cars and 12,000 buildings that are all being followed by nZero, and this is just the start of our upward trajectory. Our upcoming chapter will allow us to develop into a data authority and extend our technological platform while expanding our collaboration with Fortune 500 businesses, local governments, and non-profit organizations.
With the capacity to sync automatically, analyze, and control carbon emissions across Scopes 1, 2, and 3 on a detailed level, nZero’s platform is the only 24/7 carbon management solution. It combines insights from data on finances and emissions to enable real business change. To assist customers in tracking, managing, and reporting their sustainability goals, nZero provides continuous 24/7 tracking that captures hour-by-hour emissions changes in an intuitive interface. Since nZero began offering its services in April 2021, it has collaborated with several business, agricultural, and governmental organizations throughout the globe to assist them in comprehending their actual carbon footprint and creating the most cost-effective and long-lasting emissions reduction strategies.
“A global desire for better, more accurate ESG reporting is giving nZero huge tailwinds and, as a result, unparalleled growth. According to Jennifer Place, Principal of Fifth Wall’s Climate Technology Investment Team, “their market-leading team is creating the new industry standard for tracking and managing energy, financial, and greenhouse gas emissions data throughout the public and private sectors. The main justification for supporting nZero is “truth through better data.” With the fresh capital, the company’s growth trajectory is anticipated to continue, aiding in its development into a data authority in carbon management and accounting.
Image provided by Nzero
