Remedium Raises $1.5M Pre-Seed for Carbon Accounting Platform
Saudi Arabia-based climatetech startup Remedium has raised $1.5 million in a pre-Seed funding round led by Kaltaire Investments.
Founded in 2021 by Fawaz Abu-Ghazaleh, Remedium develops a carbon management and sustainability technology platform. It enables businesses to measure, manage, and reduce their environmental footprint through digitalisation, automation, and data analytics.
The fresh capital will go toward expanding the startup's artificial intelligence and machine-learning capabilities, including physical-risk modelling, forecasting, and automated document generation.
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Remedium also plans to expand its computing infrastructure in Saudi Arabia to ensure that client data remains secure and stored within the Kingdom as part of its focus on data sovereignty.
Remedium will expand its sustainability accounting offering with new modules covering water, waste, and energy. The modules will incorporate dedicated key performance indicators and document templates, enabling companies to capture and analyse a broader range of operational and environmental data.
"The need for sustainability accounting is more relevant than ever," said Fawaz Abu-Ghazaleh, CEO of Remedium, pointing to the increasing prominence of sustainability in corporate decision-making, public-private partnerships, and consumer behaviour.
Remedium previously participated in Saudi Arabia's NextEra deeptech programme, a collaboration between King Abdullah University of Science and Technology (KAUST) and the National Technology Development Program (NTDP).
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