Singapore-based hospitality & travel-focused VC firm Velocity Ventures has invested an undisclosed amount in New Zealand’s enviro-tech company CarbonClick.
The startup will use the funds to boost its expansion into Asia, with a regional office in Singapore scheduled to open in 2023.
Founded in 2017, CarbonClick aims to make carbon offset simple for businesses and their customers. It provides the full details of the offset by ensuring a receipt is emailed to each customer, showing where and how their contributions have been used with a “track and trace” feature.
The startup has made inroads into the aviation, travel, and airport sectors and works with over 1,000 brands. The firm works with companies such as Etihad, Amadeus, and London Stansted Airport.
In Southeast Asia, CarbonClick currently supports Rimba Raya Biodiversity Reserve, a project in Indonesia’s Central Kalimantan which protects 65,000 hectares of peat swamp, avoiding more than 130 million tonnes of carbon emissions.