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HomeAI News & UpdatesA UAE-Based Startup, Zeroe Raised US$2.2 Million In A Seed Round

A UAE-Based Startup, Zeroe Raised US$2.2 Million In A Seed Round

Zeroe, a climate tech firm based in the United Arab Emirates, has secured “$2.2 million in an oversubscribed seed round.” The startup is focused on helping corporate enterprises decarbonize. Zeroe provides organizations with tools and data to help them not just assess and lessen their carbon footprint but also align with sustainable financing frameworks.

Owen Rahadiyan, an angel investor from Indonesia, spearheaded the fundraising round, which should help Zeroe break into the Southeast Asian market.

Ali Najafian, along with Farouk Jivani, created Zeroe in early 2023 intending to assist firms in the region with decarbonization and an easier transition to net zero. “The first step in any decarbonization journey for an organization is a comprehensive measurement of emissions,” Jivani explains in an interview with Entrepreneur Middle East. “Organizations make financial decisions based on their accounts, and decarbonization decisions are not different; they should be based on a source of truth. Zeroe enables organizations to comprehensively account for their emissions and automate the flow of information from internal systems in as little as eight weeks, providing a platform for effective decision-making. With this information, organizations can then access and allocate the right amount of capital in the right areas to decarbonize.”

Image Credits: https://assets.entrepreneur.com

Zeroe, a software as a service (SaaS) platform, seeks to enable businesses to completely measure carbon emissions while also reporting on decarbonization performance to stakeholders. The startup’s influence in the UAE market has grown notably strong since the completion of the country’s hosting of the “28th Conference of the Parties (COP28).”

“The urgency to act on climate change has never been greater, and it will exponentially increase in the coming years,” Jivani said. “This investment is thus a testament to our commitment to driving tangible change. We’re here to accelerate the enterprise decarbonization journey and unlock climate finance to fund the transition.”

In addition to helping businesses identify and lessen their carbon footprint, Zeroe also helps them connect with sustainable finance frameworks, which the company’s co-founders believe is essential for making the shift to more long-term benefits. Therefore, Jivani and his colleagues intend to use the newly acquired capital to bolster the company’s market presence.

“Over the next 12 months, we are laser-focused on deploying our software to organizations in our target markets in the GCC and Southeast Asia, particularly in the UAE and Indonesia, where we are already seeing traction,” Jivani said. “We invested the past year in building a product that meets enterprise organization needs, and we’ll double our investment in this space to ensure our product solves the problems of our customers and can be rapidly deployed to drive effective decision-making. We also plan to build out further how artificial intelligence (AI) supports organizations in their decarbonization journeys, reducing the need for in-house emissions expertise, which we see as a barrier to decarbonization globally.”

Editorial Staff
Editorial Staff
Editorial Staff at AI Surge is a dedicated team of experts led by Paul Robins, boasting a combined experience of over 7 years in Computer Science, AI, emerging technologies, and online publishing. Our commitment is to bring you authoritative insights into the forefront of artificial intelligence.
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