Climate tech startup LEVELUP acquires carbon accounting startup Zevero to reduce global carbon emissions

Climate tech startup LEVELUP acquires carbon accounting startup Zevero to reduce global carbon emissions

Published: 17-04-2024 10:20:00 | By: Pie Kamau | hits: 1077 | Tags:

Zevero, a decarbonisation platform that empowers companies to reach a net zero future, has been acquired by Singapore-based climate tech startup, LEVELUP. The multi-million-pound deal will see the two companies merge under the Zevero brand and expand operations across Asia, Europe and the U.S., fuelling Zevero's access to the global $15 billion* carbon accounting market.

Zevero's innovative software platform uses AI-driven carbon modelling, automated emissions calculations and real-time analytics to help companies within the fast-moving consumer goods (FMCG) industry to accurately measure, manage and reduce their carbon footprint across their entire supply chain. In bringing together these capabilities with LEVELUP's extensive agriculture industry expertise, the new combined offering will be a powerful tool in the global fight against climate change.

Shigeo Taniuchi, Co-founder and CEO, Zevero - previously of LEVELUP: "In just three years, Zevero has proven its ability to provide full-stack carbon accounting to clients in over 13 countries. Combining Zevero's strong product foundations and UK market experience with our team's expertise across Asia will rapidly accelerate our shared mission to become the definitive carbon management solution for businesses worldwide."

Zevero was founded in 2020 by friends Ben Richardson and George Wade, then both just 23. The pair grew frustrated at how challenging it was for businesses to understand their carbon impact end-to-end. With increasing environmental-focused regulation at the time impacting more and more industries, Ben and George recognised a critical need to digitise the carbon accounting process and make it possible for businesses to see the full picture of their carbon impact throughout each stage of their supply chain. As, only through having this visibility, can businesses make any impactful changes to their operations.

Zevero initially made its name in the UK carbon accounting market, quickly acquiring customers in the food and beverage industry - such as Brixton Brewery and MOTH, amongst others. Rising consumer demand for environmentally-friendly products and services, increasing regulatory enforcement and consequent supply chain pressures are driving the need for accurate emissions data and credible decarbonisation strategies - both areas in which many companies currently lack the right resources, knowledge and tools.

Ben Richardson, Co-founder, Zevero: "Climate change is the biggest threat facing society. For most companies, there are multiple challenges in their way. Despite pressure to act, they lack the capabilities to see the full impact of their products on the environment. Without that transparency, it's impossible to set realistic emission reduction targets and drive meaningful change."

George Wade, Co-founder. Zevero: "Traditionally, calculating corporate emissions has relied on spreadsheets and static PDFs. Zevero makes it easier and more accurate for companies to measure, reduce and report on their carbon emissions in real-time, not just once a year. Much has been said about brands greenwashing, but what we're hearing from these businesses is that they actively want to make drastic changes to clean up their supply chains - but up until now they haven't had the data to make those decisions confidently. Zevero has created a solution for that."

Through the acquisition, Ben and George will remain actively involved as Co-Founders - together with other Co-Founders, seasoned executive, Shigeo Taniuchi and serial entrepreneur, Yuya Kuratomi - and will be responsible for driving Zevero's product roadmap and growth initiatives. Zevero's diverse leadership team will integrate LEVELUP's extensive presence and network in Asia to accelerate the expansion and impact of Zevero.

www.zevero.earth