Carbon accounting platform acquired by Sage as ClimateTech heats up • TechCrunch

Spherics, a UK-based carbon accounting platform for SMEs to understand and reduce their environmental impact, has been acquired by accounting giant Sage. Terms of the deal were not disclosed but it is understood Spherics has raised £1.25m in equity funding from angel investors and £300,000 in funding.

Spherics is a smaller startup that plays in a space similar to larger ones including Normative, Plan A,, Persefoni and (other carbon accounting players, such as Watershed and Climatiq, act more like consultants).

Sage has previously stated that they plan to help small and medium businesses reach net zero, and this acquisition appears to be part of their strategy.

Spherics automates the process of calculating emissions by importing data from a company’s accounting software and combining transactions to evaluate their carbon footprint estimate. It can also apply carbon emission factors to procurement items (such as delivery, accommodation, electricity and travel).

“We know that SMEs care about their impact on the environment, and our research shows they want to work with suppliers and partners who can help them understand and address that problem,” Amaya Souarez, EVP Cloud Operations, Sage, said in a statement. “By combining Spherics’ innovative software with Sage’s digital network, we are connecting businesses with their customers and suppliers’ emissions data, enabling easy climate action​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ easy and collaborative across value chains that help reduce carbon.”

George Sandilands, CEO & Co-Founder, Spherics, added: “Our vision and mission align very well with Sage’s core values, and we’re excited to embark on this journey. to help SMEs remove barriers to a more sustainable future. Global emissions are still growing rapidly and we need immediate and meaningful climate action around the world.”

Headquartered in Bristol, UK, Spherics is the second Bristol start-up acquired by Sage last year, following Brightpearl. pick in 2021.

Bristol seems to be making a habit of Climate Tech, also produce Ecologi ZeroReal-time carbon footprint software for businesses.


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