Climate tech startup Sentra raises $2 million in funding from Avaana Capital, others - The Economic Times
avaana capital: Climate tech startup Sentra World raises $2 million in funding from Avaana Capital, others - The Economic Times
Avaana Capital, an early-stage climate-tech venture capital firm.
RPG Ventures and
Golden Sparrow Ventures also participated in the round, said a statement from the company announcing the infusion.
The funding will drive the company’s global expansion, platform development, and sectoral intelligence enhancement, serving industrial businesses in India, the Middle East, Southeast Asia, and beyond, the statement added.The Bengaluru-based startup helps clients monitor scope 3 emissions — emissions in the supply chain — and manage them efficiently.
"By prioritising scope 3 emissions, we drive sustainability across the value chain for industrial businesses in India, the Middle East, and Southeast Asia, with future expansion into Europe,” Harsh Choudhry, cofounder and CEO of Sentra.world, said in a statement.
Choudhry cofounded the company with
Vikas Upadhyay. The two were formerly junior partners at global management consulting firm McKinsey.
"This seed funding will accelerate our efforts to provide cutting-edge solutions, sectoral intelligence that helps businesses seamlessly track supplier emissions, enhance green sourcing, and optimise their environmental impact,” said Upadhyay, who is the
COO of Sentra.world.
Sentra.world looks to help industrial companies manage their own greenhouse gas (GHG) emissions, their suppliers’ GHG emissions, and at the holding company level through its products sentra.calculus, sentra.network and sentra.portfolio, respectively.
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The Sentra.network product also provides a green rating to suppliers, giving them a new value proposition and enabling the procurement functions of buyers to help them find the right suppliers for their needs.
Industrial sectors such as utilities, steel, cement, aluminium and chemicals are significant carbon emitters, accounting for approximately 38% of global emissions and 62% of emissions in India, according to McKinsey's Global Energy Perspective – 2022, and Decarbonising India – 2022 reports.
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Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”