The Withers tech team has advised long-standing client and leading European venture capital fund Molten Ventures as lead investor in the £15 million seed round of Altruistiq, a climate tech company whose emissions reduction model is leading the change in corporate carbon measurement.
Altruistiq’s SaaS platform enables large businesses with complex supply chains to automate sustainability data measurement, management and exchange. Its technology allows enterprises to understand their actual impact, enabling them to go beyond simply reporting their carbon impact, and instead implement genuine decarbonisation. The £15 million raise makes Altruistiq one of the top 10 best-funded Climate software companies globally at this stage.
London partner Iain Cockburn, who led the Withers tech team, comments: “Technology is playing an increasingly significant role in how businesses record and manage their environmental and other responsibilities, and Altruistiq is at the forefront of companies paving the way for an environmentally cleaner future. This is a fantastic investment for Molten Ventures and we are very proud to have supported them as they continue to back technology-driven ventures that are making tremendous change to the world we live in.”
Withers tech is the technology, life sciences and venture capital focused team at international law firm Withers. The Withers tech team was led by Iain, working alongside associates Anthony Kydoniefs, Richard Stebbing and Claire Hansen.