Nomura leads US$6 million investment in Hong Kong climate tech start-up Allinfra
- Allinfra plans to use the funds to scale up its sustainability data management software products and bolster its sales force
- Nomura will help Allinfra to leverage its technology to develop and distribute digital asset products in the climate finance market
Hong Kong climate tech start-up Allinfra, which provides blockchain-based solutions to help companies achieve their sustainability goals, has raised US$6 million in its latest fundraising round led by Japanese financial giant Nomura.
Allinfra said it will use the proceeds from the Series A financing to scale up development of its sustainability data management software products and bolster its sales force.
“It is validating to have leaders in the financial markets recognise the value of our technology and its ability to revolutionise climate-aligned products,” said Allinfra co-founder and CEO Dave Sandor.
Technology such as blockchain and digital tokens helps to enhance the security and credibility of greenhouse gas emissions data, besides easing trading and increasing liquidity of sustainability-linked financial products.
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World leaders are aiming to cut global net carbon-dioxide emissions to zero by mid-century. Historical excessive emissions of carbon dioxide and methane released from fossil-fuel extraction and combustion, as well as agriculture and industrial activities, have led to global warming and more frequent deadly extreme weather events.
“Green finance is a critical tool to achieve sustainability goals on the timeline needed,” Allinfra said in a statement on Wednesday. “Yet, historically, the market has faced challenges around the collection of reliable, auditable data and the inability to permanently link data to non-digitised environmental financial products.”