Avarni, a Sydney, New South Wales- based It’s the startup’s second raise – and part of a recently emerged trend to decline to identify a round – since it was founded in 2021.
The round was led by CSIRO VC fund Main Sequence Ventures, with support from existing backers Vulpes Ventures and Common Sense Ventures.
Avarni uses artificial intelligence (AI) for rapid measurement and planning to help companies analyze and address their emissions exposure and counts KPMG among its clients. The business has already analyzed more than $100 billion in corporate spending data and 150 million metric tons of CO2e in supply chains to help address issues such as the US Government’s proposed Federal Supplier Climate Risks and Resilience Rule, which requires major government contractors to report their Scope 1, 2 and 3 emissions.
Scope 1 covers direct greenhouse emissions from sources controlled or owned by an organization.
Scope 2 emissions are indirect ones from things such as the purchase of electricity, steam, heat, or cooling for energy use.
Scope 3 emissions come from suppliers and supply chains, so Scope 3 emissions reporting means organizations supplying goods or services to a major contractor will need to provide emissions data of their own.
Avarni aggregates raw supply-chain and spending data, to help customers understand their Scope 3 emissions and enable supplier engagement on carbon reduction strategies.
Company: Avarni Pty Ltd
Raised: $3.0M
Round: unknown
Funding Month: December 2022
Lead Investors: CSIRO VC fund Main Sequence Ventures
Additional Investors: Vulpes Ventures and Common Sense Ventures
Company Website: https://www.avarni.co/
Software Category: Smart carbon data platform
About the Company: Avarni is a smart carbon data platform that provides cloud-based software solutions for supply chain risk management and has helped some of the world's largest companies identify their carbon risk and reduction opportunities. Driven by AI and the power of a global supplier network, Avarni cuts measurement, hotspot identification, and planning from months down to days, so you can focus on execution towards your net-zero targets.
Source: https://www.startupdaily.net/topic/funding/carbon-management-startup-tackling-scope-3-emissions-for-business-raises-3-million/