Danish Cleantech Startup Raises more than $50 Million in a Series B Round to Help Decarbonise Shipping
ZeroNorth, a Danish technology firm, recently announced that its Series B investment round raised more than $50 million.
PSG Equity ("PSG"), a prominent growth equity fund that partners with software and technology-enabled services firms to accelerate their expansion, joins current investors A.P. Moller Holding and Cargill in the round. As a result of the development, ZeroNorth now has three partners who help the company achieve its ambitious expansion goals.
In addition to PSG Equity's support, the Series B investment will help ZeroNorth accelerate its expansion in the next few years, allowing it to invest in product innovation, expand its customer-facing employees, and pursue M&A to add data, products, and services to the ZeroNorth platform.
In the short term, the investment will help ZeroNorth speed the green transition of global trade by expanding the insights generated by its platform, connecting additional stakeholders across the supply chain, and translating data into actions that can underpin value-driven decision-making. ZeroNorth is on track to help lower CO2 emissions by almost half a million metric tonnes in 2022, up from 218,000 tonnes in 2021, as proof of its impact.
Søren Meyer, CEO of ZeroNorth, said:
“We are delighted to welcome PSG Equity as a new investor in ZeroNorth. We have ambitious goals and PSG Equity shares our vision of enabling widescale change in how our industry operates.”
Edward Hughes, Managing Director at PSG Equity, commented:
“ZeroNorth has been able to achieve impressive growth in the short time they have been operating. Their clear vision and roadmap for growth, as well as the expertise they have been able to attract, make the company an appealing prospect to partner with. Their established track record of success, strong customer feedback, and unique blending of maritime and technology make us confident they are positioned to be a major player in leading the green transition of global trade.”
Source: Businesswire
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