SINAI Technologies raises $3.8 million seed round led by Afore Capital

SAN FRANCISCO, Oct. 28, 2020 /PRNewswire-PRWeb/ -- As much of the world accelerates efforts to avert a likely climate disaster, an enterprise software platform to guide and speed corporations' efforts to decarbonize never existed before SINAI Technologies was hatched in 2017. SINAI invented the world's first decarbonization software platform to help companies rapidly adopt the most feasible mitigation solutions to meet the Paris Agreement 2020 goals.

Today, multiple investors see great promise in the new type of software platform developed by SINAI Technologies as evidenced by a newly announced $3.8 million seed funding round led by Afore Capital. Other investors that participated in the seed round include Abstract Ventures, Coelius Capital and the founders of Eventbrite and PlanGrid, among others.

SINAI has gained fast traction since its Brazilian-born CEO and co-founder, Maria Fujihara, introduced and perfected the decarbonization platform's concept at Y Combinator in collaboration with SINAI's CTO/co-founder Alain Rodriguez, who was employee #12 at Uber.

The San Francisco-based technology startup recently signed a new customer, Siemens Brasil, a subsidiary of Germany's Siemens AG, the largest industrial manufacturing company in Europe. Siemens is a company leading the way to carbon-neutral operations by 2030.

Other SINAI customers include ArcelorMittal Brasil, the Brazilian subsidiary of the world's leading steel and mining company, and Brazil's BRK Ambiental, the largest private water distribution, collection and treatment company serving Latin America's biggest economy. BRK Ambiental is majority owned by Brookfield, one of the biggest asset managers in the world.

"BRK started using SINAI at an important stage in our climate change strategy," said Carlos Almiro, sustainability director at BRK Ambiental. "In only two months, we were able to engage several teams on the climate change agenda. SINAI presents internal carbon pricing in a simple and objective way and this was key to engage the board. In using SINAI, we're internalizing decarbonization knowledge and data across all teams, and spreading our climate agenda company-wide."

These industry-sector giants are turning to SINAI to cut through the deep complexity of understanding their transition risks and opportunities by generating difficult-to-attain political, economic, technology and reputational insights. Many global corporations, the world's largest carbon emitters, struggle with the intricacy and time commitment of calculating and pricing carbon emissions and how to make the best decisions to reduce their impact.

"The most important aspect of what we provide is strategic insights for corporations to make more informed decisions to more rapidly and deeply reduce emissions, including a detailed financial analysis to guide important budgeting decisions," said CEO and Co-founder Maria Fujihara, the second Brazilian female CEO to go through Y Combinator. Fujihara has been in the sustainability industry for 14 years, including her work as an advisor for Project Drawdown and her role as technical coordinator for Brazil's Green Building Council for eight years.

With SINAI's decarbonization platform, various teams and departments (e.g. sustainability, operations, finance and risk management) benefit from having an accurate, transparent and collaborative way to work together using a single source of truth for precise information that can be accessed, shared and considered from one location. Without it, these enterprises are still using spreadsheets and collaborating in silos, or using high-paid consulting firms to help answer difficult questions for them. They often receive static reports that quickly become outdated.

"We need swift and immediate action by large companies if we are to avoid the climate disaster," said Gaurav Jain, co-founder and managing partner at Afore Capital and a founding product manager for Android Nexus. "SINAI's cloud software gives superpowers to sustainability teams so they can move their companies and our planet in the right direction, effectively and efficiently. We are thrilled to be a part of this important mission."

SINAI's decarbonization software platform enables its customers to monitor, understand and evaluate carbon emissions with a complete picture, including:

• Baseline projections
• Carbon inventories
• Carbon targets and pricing
• Mitigation and adaptation options assessment tools

Without a decarbonization platform to help the world's largest companies achieve a lower carbon footprint, there's little hope to reverse the impacts of climate change that are rapidly accelerating as evidenced by melting ice sheets, rising sea levels, mass wildfires and extreme weather events that are already wreaking havoc on the planet.

About SINAI Technologies:

Founded in 2017, SINAI is a San Francisco-based technology company that is focused on transforming the way corporations, the planet's largest emitters, measure, analyze and price carbon emissions globally. The company invented the world's first decarbonization software, an end-to-end cloud platform that helps carbon-intensive enterprises to build their climate strategy, price carbon emissions and find the most cost-effective way to achieve emissions reductions targets in a collaborative way across distributed teams. The company's investors include Abstract Ventures, Afore Capital, Coelius Capital and the founders of Eventbrite and PlanGrid.

For more information, please visit: https://www.sinaitechnologies.com

Media Contact:

Chris Knight, PR director for SINAI
Based in San Francisco, Calif.
[email protected]
(415) 786-9226 c. (on WhatsApp)

SOURCE SINAI Technologies

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