Dubai-based climate tech startup Olive Gaea has secured $1 million in funding from Cornerstone Ventures. The company plans to use this capital to launch its SaaS platform, "Zero by Olive Gaea," aimed at addressing challenges faced by businesses in their efforts to achieve net-zero and manage carbon emissions in the MENA (Middle East and North Africa) region.
Olive Gaea, founded in 2021, offers a sustainability-as-a-service platform designed for carbon accounting, decarbonization, and net-zero initiatives. The platform integrates environmental, social, and governance (ESG) and climate technology, utilizing artificial intelligence to promote corporate climate action and reduce carbon emissions.
The startup also provides consulting services to assist businesses with greenhouse gas (GHG) emission reduction strategies, carbon offsetting, and life cycle analysis. Its "Zero" platform is designed to simplify the process of data collection, analysis, and reporting related to carbon management and accounting for businesses.
Olive Gaea has also introduced a "Carbon Neutral Delivery API" solution for e-commerce companies, enabling them and their customers to calculate and offset emissions associated with last-mile deliveries through certified carbon offsetting projects.
Cornerstone Ventures, the funding source, focuses on next-generation technologies and business models, including SaaS innovations, Web3 ecosystems, and carbon neutrality solutions. With a significant portfolio in India, the fund is expanding its investments globally, particularly in Series A and Series B stages.
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