CarbonClick has targeted Asia for expansion after receiving an investment from Velocity Ventures, a hospitality and travel-focused venture capital firm based in Singapore. Founded in New Zealand, the enviro-tech company made is a name for itself by providing transparency for carbon offset programs in the aviation, travel and airport sectors.
Etihad, Amadeus and London Stansted Airport are among the 1,000 brands to have partnered with CarbonClick since it began operations in 2017. Its signature technology is a process that emails a receipt to each customer, showing where and how their carbon offset contributions have been used.
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CarbonClick wants to roll out this innovations in Asia and has already announced plans to open a Singapore office in 2023. The investment from Velocity Ventures will allow it to scale up in what it hopes is a receptive market.
“We are thrilled to have Velocity Ventures onboard to help us expand our Asian footprint and look forward to working with more companies in Asia identify reforestation, biodiversity and clean energy projects they can support, and allowing users of CarbonClick to track and trace how their donations support the respective carbon offset projects,” Dave Rouse, CEO of CarbonClick. explained.
He continued, “More consumers now demonstrate greater awareness around sustainability and choose airlines and travel providers that align with their environmental values. We are dedicated to ensuring our credits stand up to the highest level of scrutiny and have implemented a stringent framework to ensure that the offsets companies offer to their customers have a real, measurable impact on reducing climate change. We go a step further to identify projects that also contain at least 3 co-benefits that contribute to the United Nations Sustainable Development Goals (SGDs).”
For Velocity Ventures, it aligned with the firm’s market-focused investment strategy that targets early to growth stage tech-enabled firms in the travel and hospitality sector. Other investments in its portfolio include TripGuru and ZUZU Hospitality.
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