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Subscription carbon offsetting platform Ecologi hits $8M total raised, includes General Catalyst

People pay for music, so why wouldn’t they pay for carbon offsetting to relieve their guilt about the climate crisis? That’s part of the reasoning behind Ecologi, a UK-based firm that utilises the cash to plant 1 million trees every ten days in regions like Africa and Latin America, as well as conserve peatlands in Indonesia. This decreases your carbon footprint by purchasing carbon offsets that are matched to your consumption habits.

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Ecologi raised $5.75 million (£4.05 million) in seed funding in April from General Catalyst and Entrée Capital, for a pre-money valuation of £16.5 million.

Subscription carbon offsetting platform Ecologi hits $8M total raised, includes General Catalyst

In early 2022 the agency additionally plans to release Ecologi Zero, its actual time carbon footprinting software program for businesses. This could compete with different carbon footprinting SaaS startups together with Normative, Spherics, Plan A and others. Ecologi claims to have grown with the aid of using extra than 650% in 9 months, and accelerated its effect via carbon discounts with the aid of using 330% withinside the closing yr. In January 2021, turnover turned into at £3.0m ARR (annual routine revenue), however the agency initiatives it’s going to give up the yr with £8.5m ARR.

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So some distance it claims to have has funded 5,563,947 bushes, disposing of 236,423 tonnes really well worth of CO2e. The majority of those bushes had been planted throughout Madagascar, Mozambique, Nicaragua, the United States, Australia, the UK, and Kenya. Projects the agency supported withinside the zone protected shielding peatlands in Indonesia and generating electricity from landfill fueloline in Turkey and from waste rice husks in India. Elliot Coad, CEO and co-founder, commented: “Community possession is on the coronary heart of what we do, and has been the riding pressure at the back of our increase over the past years,

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so we felt it turned into most effective becoming that we presented our unswerving subscribers the hazard to very own a stake in Ecologi. Since GC’s funding in April this yr, we’ve got spent the closing 3 months turning down VC cash in favour of a network primarily based totally crowdfund.”

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The subscription service, which has 35,000 subscribers, allows customers to “grow their own forest” with at least 12 trees each month and offset their carbon footprint by sponsoring a variety of carbon-reducing programmes.

The firm, which started in 2019 and has been bootstrapped till now, keeps all receipts, certifications, board minutes, and financial statements on their public ledger.

After exceeding its £2 million crowdfunding aim on the UK’s Crowdcube platform, it now has a pre-money worth of £75 million. The funds will be used to create new products, increase the company’s personnel, and expand into the United States and Europe. It’s also waiting to get certified as a B-Corp.

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Ecologi Zero, the company’s real-time carbon footprinting platform for enterprises, will be released in early 2022.

Other carbon footprinting SaaS firms such as Normative, Spherics, Plan A, and others would compete with this.

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Ecologi claims to have boosted its effect through carbon savings by 330 percent in the previous year, and has expanded by more than 650 percent in nine months. Turnover was £3.0 million ARR (annual recurring revenue) in January 2021, however the firm expects to conclude the year with £8.5 million ARR.

So far, it claims to have supported 5,563,947 trees, resulting in the removal of 236,423 tonnes of CO2. Madagascar, Mozambique, Nicaragua, the United States, Australia, the United Kingdom, and Kenya planted the majority of these trees. Protecting peatlands in Indonesia and creating energy from landfill gas in Turkey and discarded rice husks in India were among the projects the business sponsored during the quarter.

“Community ownership is at the core of what we do, and has been the driving force behind our development over the last two years, so we felt it was only appropriate that we give our loyal members the option to own a piece in Ecologi,” said Elliot Coad, CEO and co-founder. Since GC’s initial investment,

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