Sustainiam Selected for Greenr Sustainability Accelerator by IKEA and VISA Foundation

Bangalore, India – July 10, 2024 – Sustainiam, a pioneering Bangalore-based climate-tech startup, is thrilled to announce its selection by the IKEA and VISA backed Greenr accelerator, an equity-free accelerator program aimed at propelling green startups forward on 28th June 2024. The Greenr Sustainability Accelerator Program by TechnoServe, supported by the Ikea Foundation and Visa Foundation, aims to scale up green startups by linking them to knowledge, capital, and markets. As part of its first cohort launched in June 2023, the program worked with 130+ startups, raising $5M in funding through equity, debt, and grants. In its second cohort, Sustainiam is among 150+ startups dedicated to mitigating the environmental crisis in India.

The Greenr Sustainability Accelerator program is one of the largest sustainability accelerators, nurturing high-growth businesses disrupting the Environment Action space. The program helps identify and execute strategies to build resilient revenue models and world-class enterprises, aiming to restore the environment and uplift communities worldwide through scale-bound startups.

Related: Sustainiam Wins Elevate 2023 Grant: 25 Lakhs in Cash, 75 Lakhs in Benefits for Climate-Tech Impact

From a competitive pool of 600 candidates globally, Sustainiam emerged as a standout, chosen for its innovative solutions in the carbon economy and carbon credit certification. This selection, following a state-level grant from the Government of Karnataka’s Elevate 2023 Call 2 program, solidifies Sustainiam’s leadership in the sustainability sector.

“We are honored to be selected by the Greenr Sustainability Accelerator,” said Sapna Nijhawan, Founder and CEO of Sustainiam. “This recognition not only validates our commitment to combating climate change but also accelerates our mission to drive innovation in sustainability. The support from the program, IKEA Foundation and VISA Foundation, which includes invaluable guidance, market access, and funding opportunities, will be instrumental in scaling our solutions and making a global impact. Greenr’s assistance in building strategic insights, securing financing, and fostering a community of peers will empower us to elevate our initiatives and drive significant progress in the sustainability sector.”

This prestigious selection highlights the crucial role of carbon economy and carbon credit certification in bringing transparency and verification to climate change solutions. It also underscores the strong incentives provided to the green economy, driving faster growth and serving as a catalyst in the fight against global warming.

Speaking about the accelerator and their goal, Ajay Menon, Program Director, Greenr Sustainability Accelerator, shares, “In order to mitigate extreme climate impact and its devastating effects on people’s livelihoods, businesses will have no option but to change the ways in which they operate across the value chain, right down to product and service distribution, while we as consumer re-evaluate our lifestyles. With Greenr, we look towards a greater understanding of the interventions required to scale green businesses, who hold the power to economic and ecological sustainability, if provided the right support. We also hope to unlock innovation through their products and services, value through greater awareness and customer adoption as well as financing. We also hope to unlock innovation through their products and services, value through greater awareness and lastly, financing.”     

Sustainiam, founded in 2023, is a climate-tech startup focused on providing innovative solutions for renewable energy and alternative fuel generation projects. A leader in carbon management and sustainability solutions, Sustainiam offers advanced products like ECal, CiP, and EmX, and services such as Enterprise SaaS, Stakeholder Management, Off-take, and Assisted OTC. The company aims to simplify sustainability efforts for businesses globally.

TechnoServe is a global leader in micro, small, and growing business acceleration, managing asuccessful portfolio of programs across 30 countries. TechnoServe works directly with businesses and across whole market systems to make them more sustainable —
environmentally, socially, and commercially.

The IKEA Foundation and the Visa Foundation are committed to making a positive impact in the world through their joint effort to develop the Greenr Accelerator. They believe in the power of private enterprise to create jobs and transform lives. For more information about Greenr Accelerator, visit www.getgreenr.org

IKEA Foundation is a Dutch foundation founded in 1982 by Ingvar Kamprad, a Swedish billionaire and founder of IKEA. Independent from the retail business, the IKEA Foundation’s sole focus is to create brighter lives on a livable planet through philanthropy and grantmaking. As of 2020, the total grants disbursed by the foundation amounted to $220+ million. Read more about the work done by the IKEA Foundation at https://ikeafoundation.org/themes/.

The Visa Foundation, the philanthropic arm of Visa, is committed to helping low-income, financially underserved micro and small enterprises around the world to thrive and prosper. The Foundation, registered in the U.S. as a 501(c (3) entity, also supports broader community needs as well as humanitarian responses in times of crisis. Read more about the work done by the Visa Foundation at https://usa.visa.com/about-visa/visa-foundation.html.