The significance of climate tech is rising, with large corporates having to monitor their carbon emissions as part of environmental, social, and governance (ESG) regulations and practices. Companies such as BMW and Deutsche Bank already use Plan A’s software for carbon accounting, which no doubt contributes to the startup’s valuation. In fact, Deutsche Bank likes Plan A so much they have invested in it themselves, as Handelsblatt reports from the press release. Since founding in 2017, Lubomila Jordanova and Nathan Bonnisseau have raked in $40M, $27M in the most recent round. The money is for growth, which translates to doubling the number of employees to 240. Since the secret is in the tech, more specifically the amount of data points Plan A collects and collates, more people will be needed to scale. Plan A is already operating Europe wide and wants to extend its activities in the UK and Scandinavia. Since US investors are now also on board, it probably won’t be too long before Plan A moves stateside too.
