Pyrpose, an innovative climate finance platform that facilitates direct connections between environmentally conscious consumers and climate innovators to mitigate future carbon emissions, is poised to expedite its growth trajectory following the successful completion of its fundraising round, as announced today.
In its angel round, the Geneva-based startup has successfully raised US$1.1 million (CHF 1 million), securing institutional investment from CV VC, an early-stage venture capital investor specializing in global startups leveraging blockchain technology. The company has also garnered support from business angels worldwide who share the vision of a world where everyone can contribute to funding climate solutions.
Pyrpose’s platform empowers consumers to comprehend their individual carbon footprint and take charge of their climate actions. By directly investing in climate solutions, users can generate returns while simultaneously providing vital working capital to small and medium-sized enterprise (SME) climate innovators, thereby fostering a brighter future for the planet.
Kevin Kyer, the CEO and Co-Founder of Pyrpose, expressed the company’s mission, stating, “Our primary goal is to reduce carbon emissions. We achieve this by empowering climate-conscious consumers, whom we refer to as ‘now gens,’ to directly invest in climate solutions. Environmental impact and financial returns should be accessible to the majority.”
The funds obtained from the recent fundraising round will be allocated towards finalizing the company’s private beta phase and further refining its product. These efforts are aimed at launching the minimum viable product (MVP) in Q3. Additionally, Pyrpose plans to initiate its seed round in the upcoming weeks to accelerate its mission even further.
Kyer emphasized the importance of gaining access to solutions that genuinely reduce carbon emissions and provide rewards for everyday individuals, stating, “This model is the key to addressing the climate crisis. Supporting the climate used to be solely through donations, but we have transformed it into an investment opportunity.” He expressed gratitude for the support and funding from both the angel investors and CV VC, recognizing that making climate finance accessible to the majority is a challenging endeavor that requires the support of like-minded individuals and companies who share their values.
David Long, Principal & Head of Investments at CV VC, acknowledged the unmet demand for individuals to utilize their funds effectively in the battle against climate change. By offering an engaging and user-friendly platform, Pyrpose allows users to align their values with their financial decisions, ultimately benefiting the future of our planet. Leveraging blockchain technology, Pyrpose ensures users have a transparent, trustworthy, and secure record of their investments.