Sweep announced a $22 million Series A funding round led by Balderton Capital.

Sweep, a Montpellier, France-based startup developing SAAS used for carbon tracking purposes within other companies, announced the completion of a $22 million series A funding round.

The money was raised from investors led by Balderton Capital, and joined by New Wave, La Famiglia and 2050.

Sweep, founded in 2020 by Nicolas Raspal, Renaud Bettin, Rachel Delacour (CEO), Raphael Güller and Yannick Chaze, developed a software tool that provides carbon emissions tracking within a company and among its suppliers.

The tool measures carbon emissions by connecting data automatically and plug it in to a vast emission factor database, cruncnhing and managing it centrally, or get teams to measure their own emissions, tied to external suppliers and distributors to share carbon data. Sweep is still in beta and is yet to be released publicly to commercial customers.

The Sweep platform includes a digital marketplace, which offers companies access to the most diverse international catalog of carbon projects so they can make their own targeted climate contributions when they buy carbon credits.

Sweep is a Certified B Corporation with operations located in France and the United Kingdom. It says it worked with the French investment bank Bpifrance to measure the footprints of two companies it’s investing in: telecommunications firm Orange and education tech company Openclassrooms. The company has previously raised $5 million in the spring of 2021.