With participation from Clyde Bank Holdings and Antler, Pathzero, an Australian greentech firm, has secured A$8.6 million (about $5.8 million) in a series A round extension headed by Carthona Capital.
The company has raised $10.5 million USD for the round in total.
Pathzero, a company founded in 2020, assists businesses and financial institutions in measuring, managing, and disclosing emissions from their investment holdings.
Pathzero Navigator, a tool for reporting carbon emissions, is its major product. StepStone, Carthona Capital, and Hesta—a pension fund for workers in the health and community services sectors—have all made use of the platform.
A consultation document on creating a framework for companies and financial institutions to disclose climate risk was released by the Australian government yesterday. This work might begin as early as 2024.
“As regulation intensifies across sectors, we are looking forward to the years as monitoring and reducing financed emissions become second nature to financial institutions,” said Dean Dorrell, partner at Carthona Capital.
Carl Prins, a seasoned businessman, and Charbel Ayoub founded Pathzero. It intends to use the additional funds for product development.
