Zeroboard raises US$18.4 mln in Series A Financing

KUALA LUMPUR, Feb 27 (Bernama) -- Zeroboard Inc (the Company), has completed raising funds through a third-party allotment of new shares as part of the Series A round, bringing the total amount from the first and second closings to 2.44 billion yen or US$18.4 million. (US$1=RM4.45)

In the first closing, in addition to Keyrock Capital Management which was lead investor in the Series A round, existing investors including DNX Ventures and inclusion Japan Inc, with some new investors have joined, closing with the total of six undertakers resulting in funding totalling 1.98 billion yen.

During the second closing, a total of 12 partners/CVCs have signed a 460 million yen investment agreement including NAGASE & CO LTD; Kansai Electric Power CoInc; MUFG Bank Ltd; Iwatani Corporation; Toyota Tsusho Corporation and Sumitomo Corporation, to name a few.

According to a statement, the Company announced the launch of zeroboard, Japan's first cloud-based service for calculation and visualisation of greenhouse gas(GHG) emissions, in March 2021, whose beta version and product version were released in July 2021 and January 2022, respectively.

In July the same year, the Company took the lead in the industry to release the calculation function of carbon footprint (emissions by product and service).

Meanwhile, in August, it decided to start the support for decarbonisation management in Asia with five partners who have various business transactions with overseas manufacturing sites and supply chains and those who aim to decarbonise their operations.

The number of companies that had adopted zeroboard reached 2,000 by October. In order to further promote the calculation of supply chain emissions, including international emissions, the Company has also added multi-language (Japanese, English, Thai, Chinese, and Spanish) versions of the platform.

The funds raised will be used to accelerate the development of "zeroboard" product functions, to hire more professional resources such as customer success specialists to support clients and to expand internationally with the aim of becoming a global platform.

Based in Tokyo, Japan, the Company is also actively involved in formulating rules and regulations in areas related to decarbonisation and the environment, which are changing rapidly on a global scale, while constantly monitoring market trends.

-- BERNAMA