London-based BeZero Carbon, a ratings agency for the voluntary carbon market, announced on Monday, that it has raised $50M (approximately €48.33M) in a Series B round of funding. With this, the company brings its total raised capital to more than $70M (approximately €67.67M) in the past year.
The investment was led by US-based investment firm Quantum Energy Partners, with strategic investment from EDF Group through its corporate venture capital arm EDF Pulse Ventures1, Hitachi Ventures2, and Intercontinental Exchange (ICE).
Existing investors Molten Ventures, Norrsken VC, Illuminate Financial, Qima, and Contrarian Ventures also participated in this round.
Jeffrey Harris, Venture Partner at Quantum Energy Partners, says, “Set to reach $50bn by 2030, the Voluntary Carbon Market will play a central role in the transition to Net Zero. BeZero Carbon has built the biggest ratings agency in the market, with an incredible team of experts that are leaders in their fields. We are excited to be supporting them with their next stage of growth to help build a new climate economy.”