As climate change intensifies its impact on global economies, the need for innovative climate finance solutions has never been more pressing. Delhi-based climate-tech startup Climes, founded in 2021, is pioneering a path to sustainability with its digital carbon credit exchange, providing industries with transparent and engaging ways to fund climate projects.
Addressing Climate Finance Needs
Climate finance, crucial for mitigating the effects of global warming, gained significant traction at the UN Climate Change Conference (COP29), where developed nations committed to tripling financial aid to developing countries. In this context, Climes emerges as a transformative force, offering scalable, accessible, and easy-to-adopt solutions for organizations aiming to address their carbon footprints.
Anirudh Gupta, Climes’ founder, emphasizes the urgency of the mission:
Gupta’s vision for Climes was inspired by his personal journey. After returning to India in 2016 from a stint at Airbus, Gupta adopted sustainable practices like rainwater harvesting and composting. His experience in executing a seamless and cost-effective 10KW solar project in his community became a catalyst for founding Climes.
How Climes Works
Climes operates with a two-pronged approach:
- Carbon Accounting:
Leveraging its proprietary Climes Carbon Counter, the startup helps brands and enterprises measure their carbon footprints. This tool, particularly geared toward logistics and transportation providers, provides actionable insights into carbon emissions, empowering businesses to take data-driven steps toward sustainability. - Carbon Financing:
Climes enables brands to purchase and distribute carbon credits, both physically and digitally. Products like the Climes API, which integrates a “carbon-neutral checkout experience,” and Climes LITE, a gamified solution for engaging customers in carbon credit purchases, simplify the process.
These offerings are complemented by carbon-neutral event management services. Revenue generation is structured around neutralizing carbon emissions, with charges ranging from $0.03 to $0.10 per kg of CO2e (carbon dioxide equivalent) and a subscription fee of $200 per month for its API services.
Market Opportunity and Competitive Edge
The global market for carbon accounting software is projected to grow exponentially, with an estimated valuation of $95.47 billion by 2032, according to Polaris Market Research. While players like Climatiq and Patch dominate the sector, Climes differentiates itself through its speed, cost-efficiency, and tailored incentivization models.
Climes’ solutions are also designed for rapid deployment, enabling organizations to implement climate initiatives with minimal costs and delays.
Partnerships and Achievements
Climes has collaborated with over 60 mid-market and enterprise-level clients, including notable names like MakeMyTrip, Wipro, WeWork India, and the UAE Carbon Alliance. The company has also worked with brands such as Marico, Neeman’s, Nutty Gritties, and Nature 4 Nature.
In 2022, Climes raised $1.2 million in a pre-seed funding round led by Rainmatter Capital (a Nithin Kamath venture), Peak XV Partners (formerly Sequoia India), Avaana Capital, and Aureolis Ventures.
Recognized as part of the 2024 Tech30 cohort by YourStory, Climes continues to expand its reach while maintaining over 12 recurring clients.
Future Plans
Looking ahead, Climes aims to establish a footprint in global markets, starting with the UAE and the US. The company also plans to introduce specialized products designed to enhance enterprise engagement in climate action.
With a mission to make sustainability accessible and achievable, Climes is poised to become a leading force in climate tech, helping brands integrate meaningful climate strategies into their operations.
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