Rainmatter, the investment arm of Zerodha, and Big Bang Capital, a Singapore-based PE firm, led a $2.5 million fundraising round for the cleantech SaaS platform LogicLadder.
Sustainability Cloud, the company’s core product, helps brands lower their environmental effect while increasing operational effectiveness. LogicLadder was founded in 2011. The money will be utilised to improve product offerings and expand throughout North America and South Asia.
Growth and Product Improvement :
Following the additional funding, LogicLadder intends to increase its presence in North America and South Asia. The company plans to use a sizable amount of the funding for product line expansion and technological stack enhancement.
With this change, LogicLadder hopes to keep its solutions up to date with the ever-changing environmental compliance scene. Atindra Chandel and Mayank Pratap Chauhan, the startup’s founders, stress the significance of these expansions in order to satisfy the growing need for sustainable solutions.
The Function of Sustainability Cloud :
Sustainability Cloud, the main product of LogicLadder, is made to assist businesses in collecting and evaluating energy and environmental data. With the help of this platform, companies may move towards net zero emissions by giving them the resources they need to reduce their environmental impact and boost productivity.
The company’s capacity expansion and the introduction of new product features would be made possible by the additional cash, according to CEO Chauhan.
Financial Perspectives :
The head of investments at Rainmatter, Dinesh Pai, commended LogicLadder’s offerings, pointing out that tracking and assessing climate data is a difficult task that many businesses contract out to specialised companies like LogicLadder.
In light of the growing significance of environmental accountability in corporate operations, he highlighted the startup’s significant role in providing a vital sustainability solution for organisations.
Support and Customer Base :
Prominent backers of LogicLadder include JioGenNext, Shell, Aditya Birla Group, and the ONGC Foundation. The startup says it serves over 900 organisations, including well-known companies like Coca-Cola, Adani Power, and Reliance.
The industry’s confidence in and dependence on LogicLadder’s solutions is demonstrated by this broad support network and clientele.
Increasing Awareness of Cleantech :
LogicLadder’s investment fits in with a larger trend of rising investor interest in the cleantech industry. An increasing amount of financing is going to businesses that are concentrating on sustainable solutions due to the growing urgency and awareness of environmental challenges.
For instance, RTP Global led the $8.7 million Series A round that climate tech startup Varaha recently raised, while $1 million in pre-seed funding was obtained by EcoRatings. In addition, the cleantech company Accacia, which specialises in real estate, raised $6.5 million in a pre-Series A funding round headed by Illuminate Financial.
future possibilities :
LogicLadder is well-positioned to improve its product offerings and increase its market presence with the new financing. The startup wants to keep offering cutting-edge solutions that assist companies in navigating the challenges of environmental compliance and achieving their sustainability objectives.
The sector is expected to progress due in large part to LogicLadder’s technological and capacity developments as demand for cleantech solutions increases.