Dubai-based climate-tech startup, Olive Gaea, announced it secured a game-changing $1 million in funding from Cornerstone Ventures.
The funding will enable Olive Gaea to launch its SaaS platform Zero by Olive Gaea, designed to address challenges businesses face in their Net Zero and carbon management endeavors in the Mena region.
Olive Gaea’s mission is to speed the decarbonization process, especially as Net Zero targets gain prominence on the national and international stages.
Olive Gaea operates at the intersection of ESG and climate tech, offering AI-driven solutions to enable corporate climate action and reduce carbon emissions.
Vivek Tripathi, co-founder and CEO of Olive Gaea, stated: “As a homegrown business, we intimately understand the climate challenges specific to the MENA region. Today, businesses are under immense pressure to take immediate climate action.
“Shockingly, 91% of them struggle to measure their greenhouse gas (GHG) emissions. Even fewer can meet their carbon reduction targets. Having served governments and private entities in the Mena and India region for the past two years, we’ve gained extensive experience in understanding the challenges they face in their decarbonization and Net Zero journey. Now, with the unwavering support of Cornerstone Ventures, Olive Gaea is ready to bridge the climate action gap by automating and simplifying decarbonization at scale,” Gaea added.
Nanika Kakkar, investment director, of Cornerstone Ventures, expressed enthusiasm: “We believe every enterprise and organization must work towards achieving net zero, and this shift is rapidly transitioning from mandatory to voluntary. It’s a new way to build great businesses, and the time is now. We see Olive Gaea as a leading partner in helping prudent enterprises develop this capability, making them pioneers in the Mena and India region.
“Such an end-to-end solution is yet to emerge and will soon become a category creator. We are thrilled to partner with Jessica and Vivek on their growth journey. Their passion for accelerating the climate agenda resonates with their customers as well,” according to Kakkar.
The company will continue to provide support to clients across various industries, including construction, banking, metal, and services.
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