Greentech start-up Plan A, a leadng platform of science-based tools for carbon accounting, decarbonisation, and ESG management, has successfully closed a USD10 million Series A funding round led by European venture capital firm HV Capital and Netherlands-based Keen Venture Partners.
Existing investors Demeter IM and coparion are also doubling down on their seed investment. Plan A will use the capital to further develop its platform and expand internationally, with the opening of offices in London, Munich, Paris and other international hubs.
To help companies meet the ever-increasing societal and regulatory pressures, Plan A is further deepening its SaaS platform’s calculation engine and machine learning capabilities, as well as expanding the decarbonisation tooling and Scope 3 calculations for various industries. In addition to the existing software functionalities for detailed corporate carbon footprint accounting and AI-driven decarbonisation planning, Plan A is launching an ESG tool for measuring, analysing, and reporting to address all existing and upcoming regulations.
International clients such as BMW, Société Générale, JOKR, Apax, and the European Union already successfully use and rely on Plan A’s software for complex carbon accounting and ESG measurement and improvement. They also count on the company’s strong scientific roots and Plan A’s carbon accounting team consisting of international scientists, researchers, and experts in emissions accounting, carbon reduction, sustainability and lifecycle analysis.
Opening new offices in Paris and Munich in 2021, Plan A is already well underway in its international expansion strategy, with a goal of becoming a fully global company in the next 3 years. Moreover, the local teams are continuing to grow exponentially.
Lubomila Jordanova, CEO of Plan A, says: “I am incredibly happy to bring HV Capital and Keen Venture Partners onboard the Plan A journey, given their stellar track record. Since the launch of Plan A, we have worked hard on making corporate sustainability a must-have attribute for any business, which wasn’t a given some years ago. Now that the awareness is high and the regulatory system defined, we are firm that our advanced and automated software can support any business to quickly achieve tangible results on decarbonisation and reporting that go beyond simple carbon compensation.”
Alexander Joël-Carbonell, Partner at HV Capital, says: “We are delighted to support Plan A to solidify its leadership position in the rapidly expanding carbon and ESG reporting market. HV Capital invests in talented entrepreneurial teams and platforms that build scalable products, with a proven go-to-market and a strong drive to positively change the world. After a thorough review, we believe Plan A is best-positioned to export its offerings globally and enable decarbonisation at a scientifically impactful scale.”
Briehan Burke, Principal at Keen Venture Partners, says: “Now more than ever, corporations need to manage their companies sustainably and report on their climate impact. They often have nowhere to turn for accurate and enterprise-ready help. Plan A’s advanced data processing approach uniquely positions them to succeed and is a win-win for corporates and the planet alike.”