Ayala-backed fund invests in green data platform
An Ayala-led corporate venture capital firm injected new capital into a global environmental and data platform company that seeks to address air pollution and climate change.
Ayala Corp. Technology Innovation Venture (Active) Fund is among the investors that led the $9.6-million series A+ fund-raising activity by Clarity Movement Co.
Amasia, a venture capital firm that focuses on sustainability, also had major capital contribution.
Series A round refers to the fund-raising activity after a startup’s seed funding stage. Here, investors fund companies with a strong strategy for turning a great idea into a successful business.
“Our investment in Clarity builds on our commitment to environmental sustainability while at the same time backing a rapidly growing business addressing a huge market,” said Minette Navarrete, president of Kickstart Ventures, the company behind Active Fund.
“We are keen to see Clarity’s technology empowering superior air quality monitoring: better data for better decisions from both the public and private sectors,” Navarette added.
Clarity employs an air quality monitoring solution that is deemed to be affordable and scalable. The funding is seen to support its growth and product development.
“Clarity nodes extend the resolution of traditional measurement stations with small, inexpensive, easy-to-install nodes that provide reliable and accurate results within minutes using solar power and cellular communication,” it explained.
It has installed nodes in over 60 countries, including the Philippines, London, Los Angeles and Singapore. These were placed in school districts, mining companies, ports and sporting leagues, among others.
Clarity also has a partnership with the Quezon City government for air quality monitoring initiatives.
“Our motivation is simple – if you can’t measure it, you can’t fix it. Air pollution is one of the greatest risks to global health and a major factor contributing to climate change,” Clarity CEO David Lu said.
Active Fund is backed by Ayala Corp. and its units, AC Energy, AC Ventures, Bank of the Philippine Islands and Globe Telecom. The Ayala conglomerate seeks to achieve net zero greenhouse gas emission by 2050.
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