Greenly closed a $23 million series A funding round co-led by Energy Impact Partners (EIP) and Xange.

Greenely, a Paris, France-based software company specializing in automated carbon tracking, secured $22 million in series A equity investment round.

The money was raised from investors co-led by Energy Impact Partners (EIP) and German and France-based investment fund Xange.

Greenely, founded in 2019 by Alexis Normand, Matthieu Vegreville and Arnaud Delubac, developed an application that measures the carbon footprint of purchases sold as a software-as-a-service (SaaS) carbon management software to SMEs. Bank statements are synchronized with the application and automates the analysis of data collection by integrating with the accounting or billing data of more than 100 different software solutions, in order to calculate the ecological cost of consumption. The company says it works with 400 corporate customers, including Payfit, Swile, Konbini, Foodles, Bruce, Matera, Foodchéri, Outsight, Alma, as well as industrial SMEs in the construction, textile, and automotive industries.

Greenely previously raised €2.5M seed in 2021 from investors including Sia Studio, French Partners, Bpifrance and business angels.