Germany

[Funding alert] Berlin-based Cozero Secures €6.5 Million in Series A Round Funding

Apr 18, 2024 | By Startup Rise EU

Cozero, the ClimateTech software company winner of the German Sustainability Award, secures €6.5 million in series A round funding Kvanted Ventures and ENV (EnBW New Ventures) led the investment.

Cozero, the ClimateTech software company winner of the German Sustainability Award, secures €6.5 million in series A round funding Kvanted Ventures and ENV (EnBW New Ventures) led the investment.

With support from NewAlpha Asset Management and business angels and advisors from the logistics, manufacturing, and SaaS industries, including Henrik Larsen, Maersk's former CPO, Gero Decker, Signavio Co-founder, and existing Business Angels such as Torben Schreiter, Signavio Co-founder, and André Christ, LeanIX Founder.

The Series A funding will accelerate Cozero's international expansion and advance its Climate ERP solution, an emission management software trusted by industry leaders like Maersk, Nippon Express Europe (NX Group), and DMG MORI to efficiently report and reduce corporate carbon emissions.

Read also - Barcelona-based Factorial Secures $80Million in Funding

91% of companies declared that their carbon emissions are not "comprehensively measured."1 Only 26% of those disclosing their carbon footprint through the Carbon Disclosure Project (CDP) in 2022 had science-based targets approved with the SBTi 2.

With sustainability efforts and business strategies siloed and granular emission data lacking, it is complex for companies to prioritize their sustainability performance effectively. Cozero’s software solution helps address these challenges and democratizes emission management within companies.

Helen Tacke, CEO and Co-founder of Cozero, emphasizes, "Climate management tools must evolve, allowing organizations to effectively measure and reduce their carbon footprint by linking climate actions to business impacts. Our Climate ERP provides a proven technology that facilitates seamless emissions management and a targeted steering of the company and its resources. This enables businesses to not only meet regulatory reporting requirements but also to transform their value chain and product offerings towards premium, low-carbon alternatives. It sets the necessary foundation for companies in a world where financial and carbon accounting are converging. These two management dimensions are becoming more and more interchangeable anyways with the rise of carbon prices.”

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Melanie Beyersdorf, Investment Manager at ENV said, "Actionnable sustainability requires more than just compliance. It requires a balanced approach that weighs environmental obligations and financial implications. Organizations need to prioritize solutions that provide clear insight, enabling them to make decisions that are both environmentally responsible and financially prudent,".

Aurélie Nicolas, Investment Director at NewAlpha said, "Cozero has developed a carbon emissions management software that handles the complexity of large companies' operations to accurately measure their carbon emissions. This accuracy is a prerequisite to help companies manage their sustainability policy. The tool supports the transition internally, within enterprises, but also externally throughout the economic value chain, downstream and upstream with financial partners. Cozero's mission is therefore perfectly aligned with NewAlpha's investment approach,".

This funding round marks a significant vote of confidence in Cozero from the investment community. The trust from international investors and business angels emphasizes the global demand for robust corporate climate management and the crucial role of international cooperation in achieving a sustainable future.

About Cozero

Cozero is a leading provider of carbon management software for enterprises. Founded in Berlin in 2020 by Helen Tacke, Fabian Schwarzer, and Tiago Taveira, Cozero empowers enterprises to take control of their environmental footprint and decarbonization journey.

Its Climate Action Platform (CAP) offers seamless tracking, reduction, and reporting capabilities for corporate and product emissions in one end-to-end SaaS solution. Cozero’s unique approach helps organizations in high-emission sectors align sustainability performance with financial management for comprehensive decision-making.

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