Carbonetworks, a Victoria, British Columba-based company that provides enterprise greenhouse gas emissions management software, announced on July 21st the first close of a $5 million round of series A venture capital financing. This funding was provided by NGEN Partners.
"We have a particularly aggressive growth plan in a nascent and rapidly growing market," said Michael Meehan, President & CEO of Carbonetworks Corporation. "A major part of this plan includes investing in response to the growing market demand for carbon management services and strengthening our ability to access and support customers. We are very happy to have raised a significant portion of our financing with a leader in cleantech investments like NGEN Partners."
Carbonetworks is currently helping more than 180 organizations in 23 countries create and manage their greenhouse gas emissions strategies and expects to significantly expand its operations in the coming months.
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