Total amount raised
$4 Million
Latest funding date
1/1/2024
Location
StepChange has successfully raised funding over three rounds, attracting the support of 14 investors, including Mars Shot Ventures and Antler. The company focuses on providing a unified platform for carbon management, ESG intelligence, and climate risk management.
Keep reading to explore the intricacies of StepChange's fundraising journey and the investors backing this innovative platform.
What Is StepChange?
StepChange is a private company based in Bengaluru, Karnataka, India, operating in the SaaS, ESG, and Sustainability sectors. The company has an employee count of 51-100 and focuses on providing a unified platform for carbon management, ESG intelligence, and climate risk management.
Founded by Ankit Jain and Sidhant Pai, StepChange leverages advanced technology to help organizations measure, manage, and disclose their environmental impact. The company is recognized for its expertise and compliance with global standards, serving various sectors including financial institutions, real estate, and industrial manufacturing.
How Much Funding Has StepChange Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to develop the platform and validate the business model.
- Seed Round
- Amount Raised: USD 4,000,000
- Date: May 2023
- Lead Investors: BEENEXT, Global Founders Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance product offerings, accelerate growth in India, and expand presence in key international markets.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Further scale operations and enhance technological capabilities.
Total amount raised: USD 4,000,000. Current valuation: Not publicly disclosed.
Key Investors
- BEENEXT
- Details: BEENEXT is a venture capital firm that invests in early-stage technology startups. They have a strong presence in Asia and focus on supporting innovative tech companies.
- Investment Focus Areas: Early-stage technology startups, fintech, e-commerce.
- Notable Investments: Various tech startups across different sectors.
- Global Founders Capital
- Details: Global Founders Capital is a global venture capital firm that supports founders in building category-defining companies. They invest in technology-driven companies at all stages.
- Investment Focus Areas: Technology companies, fintech, e-commerce.
- Notable Investments: Facebook, LinkedIn, Slack.
- Genesia Ventures
- Details: Genesia Ventures is a venture capital firm focusing on early-stage investments in technology startups. They have a significant presence in Japan and Southeast Asia.
- Investment Focus Areas: Early-stage technology startups, digital media, fintech.
- Notable Investments: Various startups in tech and innovation sectors.
- Whiteboard Capital
- Details: Whiteboard Capital is an investment firm that provides seed and early-stage funding to startups. They focus on technology and consumer sectors.
- Investment Focus Areas: Early-stage technology startups, consumer goods, healthcare.
- Notable Investments: Various early-stage tech and consumer startups.
- Saison Capital
- Details: Saison Capital is the venture capital arm of Credit Saison, focusing on early-stage investments. They have a strong interest in fintech and related sectors.
- Investment Focus Areas: Fintech, technology startups, early-stage investments.
- Notable Investments: Various fintech and tech startups.
What's Next for StepChange?
StepChange is poised to capitalize on the growing emphasis on sustainability and ESG metrics. With a robust platform and a significant India-specific carbon accounting database, the company is well-positioned to enhance its product offerings and expand into key international markets. This expansion presents a substantial opportunity for growth, driven by the increasing demand for comprehensive ESG solutions.
Future fundraising rounds are likely as StepChange continues to scale its operations and enhance its technological capabilities. The successful seed funding round indicates strong investor confidence, which could pave the way for additional investments. However, the company may face challenges such as integrating their solutions into existing enterprise systems and navigating evolving regulations.
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