Total amount raised
$4 Millions
Latest funding date
Location
StepChange has successfully raised funding through various rounds, with the latest being a venture series. The company specializes in ESG management solutions, offering tools for carbon accounting, ESG compliance, and sustainable value chain management.
Keep reading to explore the intricacies of StepChange's fundraising journey and the investors backing this innovative platform.
What Is StepChange?
Founded on January 27, 2022, StepChange is based in Bengaluru, Karnataka, India. The company was established by Ankit Jain and Sidhant Pai.
StepChange specializes in ESG management solutions, offering tools for carbon accounting, ESG compliance, and sustainable value chain management. They provide SaaS solutions focused on sustainability and climate risk management.
With a team of 51-100 employees, StepChange has enabled leading enterprises to account for significant emissions and improve their ESG metrics.
How Much Funding Has StepChange Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop initial product offerings.
- Seed Round
- Amount Raised: $4M
- Date: May 2023
- Lead Investors: BEENEXT, Global Founders Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings, accelerate growth in India, and expand internationally.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance technological capabilities.
Total amount raised: $4M. Current valuation: Not publicly disclosed.
Key Investors
- BEENEXT
- Details: BEENEXT is a venture capital firm that invests in early-stage technology startups. They have a strong presence in Asia and other regions.
- Investment Focus Areas: Early-stage technology startups, fintech, e-commerce.
- Notable Investments: Not publicly disclosed.
- Global Founders Capital
- Details: Global Founders Capital is a global venture capital firm that supports founders in building category-defining companies. They have a diverse portfolio across various stages of investment.
- Investment Focus Areas: Technology companies, consumer internet, software.
- Notable Investments: Facebook, LinkedIn, Zalando.
- Genesia Ventures
- Details: Genesia Ventures is a venture capital firm focusing on early-stage investments in technology startups. They are particularly active in Japan and Southeast Asia.
- Investment Focus Areas: Early-stage technology startups, digital media, healthcare.
- Notable Investments: Not publicly disclosed.
- Whiteboard Capital
- Details: Whiteboard Capital is an investment firm that backs early-stage startups. They focus on providing strategic support to their portfolio companies.
- Investment Focus Areas: Early-stage startups, technology, consumer goods.
- Notable Investments: Not publicly disclosed.
- Saison Capital
- Details: Saison Capital is the venture capital arm of Credit Saison, focusing on early-stage investments. They have a particular interest in fintech and related sectors.
- Investment Focus Areas: Fintech, early-stage startups, financial services.
- Notable Investments: Not publicly disclosed.
What's Next for StepChange?
StepChange is poised to capitalize on the growing demand for ESG solutions, with opportunities to enhance its product offerings and expand internationally. The company’s extensive carbon accounting database and partnerships with major enterprises position it well for significant growth in the sustainability sector.
Future fundraising rounds are likely as StepChange scales its operations and technology. However, the company will need to navigate challenges such as regulatory compliance and competition from other sustainability platforms. By leveraging its strengths and addressing these hurdles, StepChange can continue to lead in the ESG management space.
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