Greenspark, a London-based climate-tech startup, has raised £1M in seed funding led by London-based Fuel Ventures (that also backed Guider recently).
Other investors, including Pitchdrive, 1818 Venture Capital, Zone2Boost, Great Stuff Ventures, QC-Ventures, and Boost Fund, also participated in the round.
Greenspark will use the funds to scale the platform focused on helping companies integrate environmental impact throughout their operations.
“At Greenspark, we’re on a mission to tackle some of the greatest issues facing our planet, like climate change, deforestation, and plastic pollution. We believe that collectively we have the power to address these major threats head-on. We’re bringing a new approach to tackling world issues through tools that are not simply altruistic but make business sense,” said Lenny Leemann, co-Founder and CEO. “By proving the economic value of sustainability, we truly believe we can make a huge difference in the world.”
Impact-as-a-Service platform
Founded by Lenny Leemann and Matt Williams, Greenspark‘s Impact-as-a-Service platform allows online businesses to take action on environmental and social issues globally by providing planet-positive online tools.
Through integrations, businesses can create tangible and engaging climate action, such as planting trees, preventing ocean-bound plastic, and offsetting carbon emissions on behalf of their audience.
Besides benefitting the planet, the platform also focuses on lifting key business objectives like customer engagement, product sales, order value, and loyalty for their clients.
To date, the UK company has facilitated planting over 800k trees and prevented over 1.3 million plastic bottles from entering the ocean. Greenspark claims that over 300 companies use their tool as a part of their sustainability strategy.
According to Greenspark, clients have reported rises of over 10% in online conversion rates, 80% uplifts in new subscriber rates, and 133% growth in reviews.
“Greenspark is the latest impact-driven business to the Fuel Ventures portfolio, and we couldn’t be more excited to be backing experienced founders Lenny and Matt in executing their vision to enable positive climate action with every transaction.” Said Mike Stevenson, Fuel Ventures.
“Greenspark makes the positive impact more attractive for businesses, which is a very hard nut to crack.” Said Wim Derkinderen, Managing Partner at Pitchdrive. “We were highly impressed with the founders and what they already proved, and can’t wait to see what Greenspark will become over the upcoming months and years when taking care of our environment becomes more urgent than ever.”
