Cedara Raises $2.7 Million To Decarbonize The Media Industry

Cedara Raises $2.7 Million To Decarbonize The Media Industry - Carbon Herald

Cedara, which is the first end-to-end CO2 intelligence platform for the media industry, has raised $2.7 million in a seed funding round. The funds will be used to speed up the commercial rollout of Cedara’s solutions to decarbonize the media industry in the U.S., UK, and other international markets. 

The funding round was led by angel investors coming from the enterprise marketing software sector, with additional support from executives in private equity, publishing, and advertising technology.

The only CO2 intelligence platform built specifically for advertising, Cedara aims to comprehensively measure, report, and reduce CO2 emissions across the media supply chain, including media distribution, advertising production, events, and operations.

The company allows ad platforms, publishers, and vendors to easily share CO2 data with media agency account teams and brands, so they can track their carbon footprint and reduction efforts. 

Relevant: Carbon Title Unveils Decarbonization Platform For The Real Estate Industry

The advertising industry has committed to reaching net zero by 2030 through the Ad Net Zero climate action initiative.

“Sustainability is now front and center for the advertising industry as government regulators, investors and consumers now demand carbon emissions transparency and action from both brands and their media supply chains,” said David Shaw, CEO of Cedara. “In order to decarbonize, the media industry needs to start with data. We’re excited to scale our media solutions across the ecosystem to provide comprehensive emissions measurement and ultimately implement reduction strategies to achieve net zero in 2030.”

Cedara was co-founded by David Shaw and Andrei Baragan, former executives of the global digital advertising platform Teads. The media industry decarbonization platform was launched earlier this year, and dozens of companies have already joined or are in the process of onboarding to start measuring and reducing their CO2 footprints with the help of Cedara. 

Read more: SINAI Technologies To Grow Decarbonization Platform With $22 Million Funding

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