Ayala-backed fund invests in green data platform
A venture capital firm led by Ayala has injected fresh capital into a global environmental platform and data company that seeks to tackle air pollution and climate change.
The Ayala Corp fund. Technology Innovation Venture (Active) is among the investors that led the $9.6 million Series A+ fundraising activity by Clarity Movement Co.
Amasia, a sustainability-focused venture capital firm, also made a significant capital contribution.
Series A refers to the fundraising activity after the seed funding stage of a startup. Here, investors fund businesses with a solid strategy to turn a great idea into a successful business.
“Our investment in Clarity builds on our commitment to environmental sustainability while supporting a rapidly growing company addressing a huge market,” said Minette Navarrete, President of Kickstart Ventures, the company behind ActiveFund.
“We look forward to seeing Clarity’s technology enable superior air quality monitoring: better data for better public and private sector decisions,” added Navarette.
Clarity uses an air quality monitoring solution deemed affordable and scalable. The funding is seen as supporting its growth and product development.
“Clarity nodes extend the resolution of traditional measurement stations with small, inexpensive, easy-to-install nodes that deliver reliable, accurate results in minutes using solar power and cellular communication,” he explained. .
It has installed nodes in over 60 countries, including the Philippines, London, Los Angeles, and Singapore. These have been placed in school districts, mining companies, ports, and sports leagues, among others.
Clarity also has a partnership with the Quezon City government for air quality monitoring initiatives.
“Our motivation is simple: if you can’t measure it, you can’t fix it. Air pollution is one of the biggest global health risks and a major contributing factor to climate change,” said Clarity CEO David Lu.
Active Fund is backed by Ayala Corp. and its units, AC Energy, AC Ventures, Bank of the Philippine Islands and Globe Telecom. The Ayala conglomerate seeks to achieve net zero greenhouse gas emissions by 2050.
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