Sprih, a platform for managing carbon emissions, raised $3 million in funding, with early-stage venture capital firm Leo Capital taking the lead.
These funds will support global expansion efforts in sales, talent acquisition for AI model development addressing climate concerns, and the expansion of partner networks.
“We are trying to bring all the climate data in one place…and for that, we are going to keep investing in research and product development,” cofounder and chief executive Akash Keshav said.
Established in 2022, the company provides businesses with a comprehensive software tool to streamline measuring, comparing against industry standards, and reporting emissions across their operations and supply chain.
The company is conducting pilot programs in the US to expand its clientele in India and penetrate markets in the US, Europe, and other global regions where climate regulations are enforced. “These countries have committed to reducing their carbon footprint, and it will only decrease when corporations truly start taking it seriously.”
“This year, our focus is to expand globally, and we are definitely targeting around 40-50 customers globally,” he said.
Presently, Sprih boasts over 12 customers, including notable names such as Indigo Paints, Hero MotoCorp, Arvind SmartSpaces, Espi Industries, and InfoBeans.
As a company, we would like to cross $6-7 million in revenue in a few years,” he added.
Commenting on the investment, Ravi Srivastava, partner at Leo Capital, said, “With increasing top-down commitments towards net zero, sustainability is steadily becoming a crucial part of businesses’ growth agenda. However, without any prior framework, most companies struggle to develop a viable path to their sustainability goals.”
