Corporate sustainability platform StepChange has raised over $4 million in its seed round of funding led by BEENEXT and Global Founders Capital. The investment also saw participation from a group of global investors including Genesia Ventures, Whiteboard Capital, Saison Capital, Seedstars, Antler, and Speciale Invest.
The funds will be used to enhance StepChange’s product offerings, ramp up growth in India, and expand their footprint in key international markets, the company said in a press release.
Founded in 2022 by Ankit Jain and Sidhant Pai, StepChange offers a comprehensive integrated solution to large corporate enterprises and financial institutions to improve their ESG metrics, manage climate risk, and reduce emissions across their supply chains, in-house operations, and financial portfolios.
The startup claims to have over 75,000 emission factors for various products and services and has enabled enterprises to account for over 250 million tCO2e in the aggregate, equivalent to over 7.5% of India’s emissions. The platform is working with some of the industry’s most prominent players, including ICICI Bank, ITC Limited, and SBI, across their value chains and portfolios.
Venture Capital fund BEENEXT invests in early-stage tech startups that are focused on building new digital platforms driven by the data network. Its portfolio companies include Simplilearn, NoBroker, Tata 1mg, Zomato, PhonePe, CRED, Policybazaar, Paytm, Nykaa, and Lenskart among others