Carbon measuring platform Greenpixie has raised £250,000 in its first fundraise led by Ascension, alongside angel investors Christian Arno and Ross Johnson.
Shared exclusively with UKTN, Greenpixie will use the capital for growing its Cloud NetZero product, which monitors carbon emissions within cloud computing.
“Until now, no one has taken responsibility for the staggering environmental impact of cloud computing,” said John Ridd, CEO and co-founder, Greenpixie.
Cloud NetZero integrates with cloud providers such as Amazon Web Services, Google Cloud and Microsoft Azure. Currently, in beta, the software also provides data to the users in order to reduce their emissions.
“At Greenpixie we see Cloud NetZero as a rare business opportunity that can give the investment and productivity gains of scalable software, with an equally scalable positive impact on the planet – so we can bring sustainability to the digital world,” added Ridd.
According to Greenpeace, the tech sector is predicted to be responsible for using 20% of the world’s electricity by 2025.
London-based Greenpixie said it will begin its seed round later this year.
Nico Albanese, investment principal, Ascension said: “Greenpixie has shown the power that an innovative idea can have when it comes to getting one step closer to tackling the climate crisis.”
Venture capital firm Ascension invests in early-stage companies and has invested in over 150 startups and has more than £70m under management.
Ascension recently contributed to Foodsteps’ £3.2m seed investment in May.
Climentum Capital recently launched its £128m fund for investing in startups looking to reduce carbon emissions.