NAB Ventures Backs Climate Tech Startup Greener in $4 Million Series A

Climate tech startup greener has raised a strategic $4 million in a Series A to help small businesses move towards net zero emissions

The round was led by NAB Ventures with support from RealVC. The company previously raised $1 million in Seed funding 12 months ago.

Founder Tom Ferrier said that every dollar spent is associated with 300g of CO2, and that $184 billion is spent worldwide every day. The startup’s business model simplifies the decision-making process to help reduce and offset emissions for both sides of the retail industry.

“Sustainability can be complicated, and the more you learn, the harder it gets. But it doesn’t have to be that way. That’s why we focus on simple solutions that are supported by a positive message of hope,” he said.

“By rewarding greener businesses with new customers and helping consumers take action for free, we can achieve unprecedented impact. If everyone here in Australia supported the green economy, we could help take the equivalent of 58 million cars a year off the road.”

Todd Forest, MD of NAB Ventures, said the partnership with Greener provides opportunities for the startup to help the bank with its climate ambitions.

“We all have a role to play in climate action and NAB certainly recognizes our role,” he said.

“We are constantly looking for ways to support our customers and colleagues to take action to reduce their environmental footprint and we believe Greener’s product has great potential. Greener is an excellent fit for NAB Ventures and we look forward to working with them and exploring further opportunities together.”

Greener helps consumers shop smarter and offset their carbon emissions with every purchase at no extra cost, connecting sustainable brands with more consumers, while providing businesses of all sizes with personalized routes to reduce their carbon emissions. Brands such as Microsoft, T2 Tea, Scoop Wholefoods and Brew Dog have partnered with Greener. And during the early trial of the platform, Groener-backed businesses saw 10% customer growth, with shoppers choosing to move to greener businesses from non-green competition, while shoppers reduced emissions from purchases by 23%.

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