Net Zero Intelligence startup Faradai raises $2.4 million in pre-Series A funding.

Net Zero Intelligence startup Faradai raises $2.4 million in pre-Series A funding.

Net Zero Intelligence startup Faradai raises $2.4 million in pre-Series A funding

Faradai, a London-based net-zero intelligence firm, secured $2.4 million in Pre-Series A funding to grow its carbon and energy analytics solutions internationally and further improve its net-zero software offering with AI and IoT-powered capabilities.

The investment was led by Edenbase from the United Kingdom and Sangha Capital from Switzerland. Bill Tai, an early-stage investor in Zoom and Canva, participated alongside his Silicon Valley-based firm, ACTAI Ventures. Goldacre, a UK-based prop-tech fund, and EthAum Ventures, a Singapore-based technology fund, both significantly contributed, as did various investment professionals from Goldman Sachs UK and angel investors from the UAE, Turkey, and India.

Faradai Team

Faradai offers corporate software for measuring, analyzing, and reporting energy and carbon emissions. The platform also assists customers in decreasing emissions and expenditures. Faradai’s platform is utilized by many of the world’s leading firms, including Shell, IKEA, PepsiCo, Vodafone, M&S, MediaMarkt, BBVA, BNP Paribas, QNB, Sephora, GAP, Bank Audi, Delivery Hero, SOCAR, and DHL. These businesses utilize Faradai to successfully collect, store, analyze, and report their carbon emission and energy data, allowing them to save money, comply with regulations, and manage their net zero path. Last year, Faradai’s cloud-based, market-leading Net Zero Intelligence Platform analyzed and reported over 55 million metric tons of carbon emissions.

The Faradai Platform streamlines the unification of environmental, operational, and financial data from departments, facilities, and the whole value chain of a company. Faradai not only assists organizations in reaching net zero by following the rules of the Science Based Targets Initiative and GHG Emission Standards, but it also assists in the deployment of decarbonization initiatives. The Faradai Platform uses IoT-powered, data-driven energy intelligence to monitor ongoing project ROI and performance.
Faradai founders Sahin Caglayan, Burak Sefer, and Utku Simitli describe their aim as “pushing climate action via data and insight.” They think that “energy is the new internet,” “AI is the new electricity,” and “sustainability is the new digital.”

“Many organizations have committed to net zero targets, with many others seriously looking at how they can improve the sustainability of their business and operations. However, setting targets is only the first step. Constructing a credible and achievable plan for monitoring, reducing, or eliminating Scope 1, 2, and 3 emissions is a huge challenge for even the largest organizations. With Faradai’s real-time AI-powered prediction engine and IoT-powered data acquisition capabilities, Faradai provides science-based methodologies to define an actionable pathway of decarbonization activities and achieve its customers’ “net zero” ambitions.

Co-founder and CEO Sahin Caglayan stated, “This funding will allow us to accelerate the advancement of our Net Zero Intelligence Platform, expand our sustainability subject matter expertise through specialists and data scientists, and expand faster internationally, particularly in the UK, Europe, MENA, and APAC regions.”

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