Climate change-focused startup Terra.do on Monday said it has closed a seed funding of $5 million (around Rs 38.5 crore) led by Avaana Capital.
The fund-raising round also saw participation from MCJ Collective, Albert Wenger (Managing Partner at Union Square Ventures), Gaurav Agarwal (co-founder of 1mg) and Anirudh Gupta (co-founder at Climes). SIG, Precursor, BEENEXT, City Light, Hummingbird Firm and Avesta also took part in the round.
“We are on the precipice of real change—both the industry and talent have woken up to the impacts of the crisis and the hard work that is required. With this funding round closed and a new app launched, we are ready to run at warp speed to contribute to solving this (climate change) crisis,” said Anshuman Bapna, founder and chief executive officer of Terra.do.
Launched in 2020 by Bapna, Kamal Kapadia and Mayank Jain, the platform is focused on building a vast platform for climate work involving a base of climate employers and hiring managers. Terra.do, according to its website, is also into providing immersive learning programs to train individuals that intend to transition towards a career in climate work.
The startup has also rolled out a mobile app that offers insider access to climate professionals and hiring managers at climate tech companies, facilitating direct connections between climate employers and prospective talent, it said in a statement.
The platform aims to connect with 100 million people working in climate by 2030.
Avaana Capital is a $150 million early to growth stage VC fund platform. Its investments in India include FarMart, AlphaVector, CoverStack, Eeki Foods, Praman.ai and Eggoz.
“At Avaana, we believe that climate and sustainability are the next digital. The climate crisis will require every aspect of our economy to transform and incorporate sustainability, resulting in the emergence of the climate economy. Terra.do’s new app and its approach, combining learning and jobs, empowered by a strongly engaged community, will enable better outcomes on the climate front,” said Anjali Bansal, founder and chairperson of Avaana Capital.
In August 2020, Terra.do Inc. raised $1.4 million (Rs 10 crore) in a seed funding led by a few early-stage investment firms.
