Dcycle, the Madrid-based startup specialising in Environmental, Social and Governance (ESG) data management, has raised €6 million in a Series A funding round.
This milestone was led by Samaipata, with existing investors Ship2B Ventures, Sabadell Venture Capital, Draper B1, Decelera Ventures, and Angels Capital.
Juanjo Mestre, CEO and Co-founder of Dcycle, said: “To create the best product for managing non-financial data —not just to meet reporting obligations — we need to bring together the best team, the best investors, and the best clients. This funding round represents another step in that direction. We are the Spanish leaders, and now it’s time to prove that a Spanish company can lead the European market.”
Founded in 2020 and headquartered in Madrid, Dcycle’s SaaS platform aims to reshape the approach to ESG by addressing sustainability as a data engineering challenge.
Dcycle’s software sorts, manages and enables companies’ ESG data, creating a centralised source from which they can monitor, improve and report on their impacts. This enables businesses to manage non-financial information such as carbon footprints, environmental impacts, and compliance with ESG regulations. By leveraging artificial intelligence and cloud computing, it seeks to simplify processes for clients, eliminating the need for intricate installations or technical expertise.
The newly secured funding will bolster Dcycle’s growth plans. These include accelerating its technological development, expanding its presence in key European markets such as Germany, Italy, and the United Kingdom, and growing its team beyond the current 50 employees. Dcycle has already secured strategic partnerships with organisations such as AWS, BBVA, and EDP.
According to Dcycle, its platform is also the first in Europe to be verified by TÜV Rheinland, an international environmental certification.
Dcycle is strategically positioned in a rapidly expanding market, as an estimated 70% of European companies are expected to adopt non-financial data management systems within the next five years. The company aims to be the trusted partner for ESG managers, CFOs, and CTOs, offering solutions that go beyond regulatory compliance to address operational challenges as ESG considerations increasingly influence supply chains and corporate relationships.
Luis Garay, Partner at Samaipata, commented: “Our investment in Dcycle reflects our commitment to supporting companies that leverage technology to solve operational challenges in fast-growing markets. Dcycle addresses a critical issue for businesses: managing non-financial data efficiently in an increasingly regulated environment. At Samaipata, we are excited to support Dcycle as it continues its journey to becoming the go-to ESG partner for European companies.”
Read the orginal article: https://www.eu-startups.com/2024/12/317522/
