Sprih Secures USD 3 Million in Seed Funding Led by Leo Capital

Sprih plans to allocate the raised capital for sales and marketing activities to support its global expansion efforts.

March 20, 2024. By Anurima Mondal

Carbon emissions management platform Sprih has raised USD 3 million in a seed funding round led by Leo Capital, with participation from entrepreneurs and climate experts globally.

Sprih plans to allocate the raised capital for sales and marketing activities to support its global expansion efforts. Additionally, it will also deploy funds towards acquiring talent for the creation of AI models centred on climate, and broadening its partner ecosystem to aid customers in implementing climate solutions.

With a SaaS business model and a strong ecosystem of climate solution providers, Sprih lends its technological solutions to help businesses create a data-driven and action-oriented sustainability strategy, which goes beyond regulatory demands. Sprih’s proposition enables businesses to simplify the complex task of measuring, benchmarking against industry peers, and reporting emissions across their operations and supply chain, thereby realising their decarbonisation goals efficiently and enhancing their brand reputation.

The startup has research partnerships with leading institutions like IIT Kanpur and IIT Bombay. Over the coming years, it plans to expand its customer base in India and grow its presence in the USA, Europe, and other key global markets.

Speaking on the funding, Akash Keshav, CEO & Co-founder, Sprih said, “It has become a necessity for CEOs to make their businesses sustainable. With stricter climate laws and trade agreements across the globe, businesses are confronted with existential challenges. At Sprih, we are on a mission to make the future better by empowering businesses with the right tools to turn these challenges into opportunities, enabling them to establish a competitive edge through sustainability. We are thrilled to announce our seed investment round. With the infusion of this capital, we are well-positioned to accelerate our growth, expand the team, and bring more innovative solutions to the market.”

Commenting on their investment in Sprih, Ravi Srivastava, Partner, Leo Capital said, “With increasing top-down commitments towards net zero, sustainability is steadily becoming a crucial part of businesses’ growth agenda. However, without any prior framework, most companies struggle to develop a viable path to their sustainability goals. Here, Sprih’s AI-driven scope-3 carbon accounting & benchmarking platform has the potential to be a game changer for businesses. The team is on a mission to drive sustainability practices, and the simple yet powerful Sprih platform starts this tall order by tapping into regulatory tailwinds”.

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Climate change solutions

Sustainability Targets