Dubai climate tech startup Olive Gaea raises $1M

Dubai's climate tech startup Olive Gaea has secured $1 million in funding from Cornerstone Ventures.

The company will use the capital to launch its SaaS platform, Zero by Olive Gaea, to tackle challenges that businesses face in their net zero and carbon management efforts in the MENA region, according to a statement on Wamda.

"Today, businesses are under immense pressure to take immediate climate action. Shockingly, 91% of them struggle to measure their greenhouse gas (GHG) emissions. Even fewer can meet their carbon reduction targets. Having served governments and private entities in the MENA and India region for the past two years, we’ve gained extensive experience in understanding the challenges they face in their decarbonisation and net zero journey," said Vivek Tripathi, Co-founder and CEO of Olive Gaea.

Founded in 2021, Olive Gaea offers a sustainability-as-a-service platform for carbon accounting, decarbonisation, and net zero efforts. It integrates ESG and climate tech, providing AI-driven solutions to promote corporate climate action and decrease carbon emissions.

The startup also offers consulting services for GHG emission reduction strategies, carbon offsetting, and life cycle analysis. Its carbon management and accounting platform 'Zero' aims to simplify data collection, analysis, and reporting for businesses

The company has also introduced a Carbon Neutral Delivery API solution for ecommerce companies, allowing them and their customers to calculate and offset emissions from last-mile delivery through certified carbon offsetting projects.

Cornerstone Ventures fund supports next-generation technologies and business models, including SaaS innovations, Web3 ecosystems, and carbon neutrality solutions. With a large portfolio in India, the fund is expanding globally, investing in Series A and Series B stages.