Carbon ratings agency BeZero Carbon has successfully raised $32 million in a Series C funding round.
The funding round was led by GenZero, a decarbonization-focused global investment firm founded by Temasek and based in Singapore. Additional contributions came from Japan Airlines and the Translink Innovation Fund. Existing investors, including EDF Pulse Ventures, Hitachi Ventures, Illuminate Financial, Intercontinental Exchange (ICE), Molten Ventures, Qima, and Quantum Innovation Fund, also participated in this funding round.
BeZero boasts customers in over 30 countries across six continents, with its ratings accessible on more than 40 platforms, including Bloomberg. The BeZero Carbon Markets platform offers users access to ratings, data, and scientific analysis for over 480 carbon credit projects. The platform counts more than 100 corporate subscribers globally, such as UBS, Sumitomo, Emirates NDB, Equinor, Woodside Energy, and ERM.
The company plans to use the new funding to expand its ratings coverage for new international projects affiliated with the EU and United Nations, as well as aviation agencies. This initiative aims to help direct financing toward climate projects essential for a sustainable future.
Headquartered in London, BeZero also has subsidiaries in key financial centers, including New York and Singapore. Co-founder and Chief Innovation Officer Sebastien Cross has temporarily relocated to Singapore for the upcoming months.
Tommy Ricketts, CEO and co-founder of BeZero, commented, “Securing a Series C in the current climate is a huge vote of confidence in independent carbon ratings. The funds will allow us to sustain our pace of innovation and expand our ratings coverage to compliance carbon markets, such as Article 6 and Corsia, as well as the voluntary carbon market.”