Sydney based software company, Pathzero, today announced it has closed a AU$1M seed investment round.
Backed by leading strategic investors Antler, Black Nova Group and a number of experienced senior business figures including Brian Hartzer and climate campaigner, Simon Sheikh, and two early customers.
Pathzero is a global platform that uses proprietary technology to streamline the carbon reporting process and remove the need for consultants, saving customers up to 80% when compared to competing industry experts.
The emissions management platform partners with South Pole to provide carbon offset projects for businesses intending to go carbon neutral. Since its launch, Pathzero has onboarded over 30 businesses in architecture and planning, asset management and consulting services.
Former Managing Director and CEO of Australian Ethical Investment and investor, Phil Vernon says the platform “is well placed to serve the growing need for unlisted companies who form part of an ESG portfolio to report their carbon emissions.”
CEO and Co-Founder, Carl Prins says “Reporting a company’s carbon footprint is going to become as normal as financial reporting.
The process of measuring a carbon footprint lends itself well to automation as you find that there are key drivers for specific types of businesses. We believe that this will accelerate the adoption of carbon accounting and make it part of our every-day language.”
What makes Pathzero’s product special?
CTO and Co-Founder, Charbel Ayoub, says “We’ve created an infrastructure that leverages the latest research and technology to make emissions measurement accurate and fast, with design thinking that keeps the task simple for people who are new to sustainability and familiar to those experienced in this space.
Pathzero’s emissions measurement platform is capable of serving a wide array of needs; from helping a small architecture firm measure their emissions as part of going carbon neutral, to providing asset managers with the means to assess the scope 1, 2 and 3 emissions of their portfolio companies.”
“The market is ready for businesses to opt in to carbon neutrality, driven by pressure from customers, employees, shareholders, social trends and conscience of business owners,” says Matt Browne, Black Nova Group’s Managing Partner.
“Pathzero’s experienced founding team has created a clean, user friendly product, with elements of defensibility. We believe that this platform will become the ‘gold standard’ for SME carbon offset in the coming years”.
“From the outset of working with this startup, the founders have shown passion, grit and resilience” says Anthony Millet, Partner at Antler ANZ.
“Along with that, their product addresses a significant pain-point for businesses that want to be part of the net zero movement but don’t know how to, and it displays great potential for global expansion.
The early traction and investor interest in this team is very exciting and is just the start of what we expect will be a phenomenal journey.”
Enjoying immense global interest and the seed round closure despite adversity, Pathzero is proud to have launched Version 2.0 of their online self-serve application.
The platform has now had the opportunity to expand its core team to accelerate growth locally and internationally whilst expanding the types of industries that can be automatically served.