Montpellier-based carbon management platform Sweep has raised $73 million in a Series B funding round.
The startup targets large enterprises and helps them meet the growing demand from customers to net-zero sustainability goals.
Building from raise to raise, Sweep netted $5 million in a seed round around this time last year, took home $22 million in mid-December of last year, and now boasts $100 million in the kitty.
Sweep counts multinational companies including Saint Gobain and JCDecaux amongst its client base and helps them measure, track, and reduce emissions from one intuitive dashboard.
In addition to Coatue’s lead, Sweep’s $73 million Series B round saw participation from Tony Fadell’s Future Shape fund, with all existing investors Balderton Capital, Xavier Niel, and Peter Fenton backed New Wave, La Famiglia, and Marie Ekeland’s 2050 all following on.
“Sweep’s proven carbon accounting platform makes the invisible visible,” commented Tony Fadell “This incredible team of experienced pros has dedicated their lives to building a suite of SaaS tools that help their customers, of all sizes, quickly visualize their Scope 1-3 CO2 emissions. This lets them meet their ESG targets while seeing the compelling economic benefits of going green.”
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