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Funding

NAB Ventures backs climate tech startup Greener in $4 million Series A

- October 25, 2022 2 MIN READ
Greener cofounders Tom Ferrier and Neil McVeigh

Climate tech startup Greener has raised a strategic $4 million in a Series A to help small businesses move towards net zero emissions

The round was led by NAB Ventures with support from RealVC. The company previously raised $1 million in Seed funding 12 months ago.

Founder Tom Ferrier said 300g of CO2 is attached to every dollar spent, with $184 billion spent globally daily. The startup’s business model simplifies the decision-making process to help reduce and offset emissions for both sides of retail trade.

“Sustainability can be complicated, and the more you learn the more difficult it gets. But it doesn’t have to be. That’s why we’re focused on simple solutions that are underpinned by a positive message of hope,” he said.

“By rewarding greener businesses with new customers, and helping consumers take action at no cost, we can drive unprecedented impact. If everyone got behind the Green Economy just here in Australia, we could help take the equivalent of 58 million cars off the road each year.”

Todd Forest, MD of NAB Ventures, said the with Greener opens up opportunities that could see the startup help the bank with its climate ambitions.

“We all have a part to play in climate action and NAB certainly recognises our role,” he said.

“We’re continuously looking at ways we can support our customers and colleagues to take action to reduce their carbon footprint and we think Greener’s product has great potential. Greener is an excellent fit for NAB Ventures and we look forward to working with them and exploring further opportunities together.”

Greener helps consumers to shop smarter and offset their carbon with every purchase at no extra cost, and connects sustainable brands with more consumers, while  providing businesses of all sizes with personalised pathways to reduce their carbon emissions. Brands such as Microsoft, T2 Tea,  Scoop Wholefoods and Brew Dog have partnered with Greener. And early trial of the platform saw Greener-backed businesses post 10% customer growth with shoppers choosing to switch to Greener businesses from non-green competition, while the shoppers reduced emissions on purchases by 23%.

NOW READ: Greener teams up with retail association to help small business cut carbon

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