Cloverly, an Atlanta-based early stage startup, has ripened an API that helps companies measure and then offset their stat emissions. Today the visitor spoken a $2.1 million seed round.
TechSquare Ventures led the round with participation from SoftBank Opportunity Fund and Panoramic Ventures withal with Circadian Ventures, Knoll Ventures, and SaaS Ventures .
While it was at it, the visitor spoken that founder Anthony Oni has stepped when from running the visitor day-to-day, but will remain on the workbench as advisor. The visitor has hired former eBay exec Jason Rubottom as CEO in his place.
“We’re a Sustainability as a Service visitor that helps other companies measure and reduce their stat footprint. Our API measures the stat emissions from various activities or processes within a merchantry and allows that merchantry or its customers to offset those emissions. And then it provides comprehensive reporting on that,” Rubottom explained.
Rudy Krehbiel, who runs operations for the visitor says that the API is designed to be flexible to meet the needs of each visitor accessing the services, but once developers create an application, it works automatically to measure emissions and purchase the offsets. “The solution itself is automated. Most of the work happens up front, and once we get integrated it becomes a fully productized and operationalized ongoing measurement and offsetting solution,” he said.
As customers build solutions using the tool, they can then offset their stat usage by ownership stat offsets from the public markets, and this can be streamlined based on the usage of a given company. Cloverly monitors the offset market to ensure that the sources are suppositious and are subtracting new ones as they develop.
The visitor is working with over 6000 brands, which have offset over 55 million pounds of stat to this point. The API was originally conceived by Oni when he was working at the Southern Company and spun out as a startup on Earth Day in 2019.
Oni, who is Black, is moving yonder from day-to-day operations as he hands the wand to Rubottom, but he recognizes the significance of this funding from a diversity perspective.
“As a Black tech founder of a climate tech company, it’s incredibly validating to have TechSquare Ventures and Softbank’s Opportunity Fund as investors. It will take diverse people and teams to find solutions to create a increasingly sustainable future,” he said.