UAE –  Coral, a UAE-based pioneering climate tech startup specialising in carbon emission management and offsetting solutions, has closed its seed funding round at a value of $3 million.

The fundraising transaction was led by a group of seasoned tech investors with a cumulative 40 years of experience in the sector, according to a press release.

Coral offers a comprehensive, AI-driven platform that facilitates and automates carbon data collection, footprint evaluation, reporting, and offsetting in a single system, providing businesses with a streamlined solution to manage their carbon emissions.

The platform also offers e-commerce businesses the ability to integrate a one-click offset integration in their checkout pages, which provides their customers with the sustainable shopping experience they desire.

Daniele Sileri, Director of Product and Strategy at Coral, commented: "This funding will enable us to scale our platform, expand our team, and accelerate our mission to make carbon neutrality accessible and transparent for businesses worldwide."

Furthermore, the Emissions Management System (EMS) is already live for several other clients and currently onboarding major corporate customers and ecosystem players, including partnerships with international climate organisations.

Juergen Hoebarth, Director of Operations and Research, commented: "Our platform differentiates itself by not just talking about AI and blockchain as trendy topics, but by effectively implementing them as core components of Coral’s EMS Platform that truly enhance the customer journey."

Hoebarth added: "With the carbon market expected to grow exponentially by 2030, we are in a prime position to make a significant impact, helping organizations achieve their sustainability goals.”

“Following our recent funding, Coral plans to expand its operations by opening a new office in Abu Dhabi and further growing our team of experts to reach a broader customer base and scale up operations," the official indicated.

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