Singapore-based climate tech startup RIMM Sustainability today announced that it has raised a total of US$3 million in Pre-Series A funding round led venture capital fund BEENEXT and leading tech investor Mamoru Taniya.
Other key investors in the funding round include the Aswani family of the conglomerate Tolaram Group and Atlas Asset Management.
In a press statement, RIMM Sustainability said that the funding will be used to develop and launch its version 2.0 platform, release new features, and expand its team.
“We are delighted to have closed our preseries A round, the pedigree of our investors is a testament to our team, our platform and our roadmap. This is a great step towards our goal to become the world’s largest sustainability platform and create an ecosystem where companies, citizens and stakeholders can engage to identify and solve the most pressing sustainability problems of today and tomorrow,” Ravi Chidambaram, CEO and Co-founder of RIMM Sustainability, commented.
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“The success of microfinance is based on banking the unbanked. At RIMM, our success as a sustainability platform will come from serving the unserved,” Chidambaram added.
Launched in 2021, RIMM Sustainability provides a SaaS platform that enables companies of all sizes to optimise their sustainability management effort. It builds tools for sustainability management, reporting and optimisation.
The company described its platform as “revolving around inclusivity and accessibility, focusing on unlocking an open world where sustainability is no longer elusive.”
Key features on the platform for SMEs include industry-specific assessments aligned to global sustainability standards (e.g. GRI, TCFD,
SASB); benchmarking of sustainability performance against peers and industry, relevant and simplified educational guidance by sustainability experts; curated sustainability insights summarised on one comprehensive dashboard; Carbon Calculator to measure emissions across scope 1, 2 and 3; customisable sustainability reports for internal analysis and external communication to stakeholders; and access to strategy and recommendations report in improving company’s sustainability performance.
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RIMM Sustainability was awarded a US$1 million Green Finance grant by the Tokyo Metropolitan Government and a grant from the Monetary Authority of
Singapore.
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