Tribaldata, a climate tech startup on a mission to make the online advertising economy fight climate change, completed its seed round, raising €800K to support more business abroad, especially in the UK market.
This was possible thanks to a combination of equity finance with initial angel investors and institutional investors such as Garbi Capital, Chamberi Ventures, impact and industry investors, and an oversubscribed crowdfunding campaign over European leader Crowdcube.
Erik Häggblom, CEO and co-founder, and former Dentsu Executive, says: “After more than 2 years operating with our carbon footprint reduction model in Spain, we are excited to bring it even closer to the day-to-day operations of the market players in the UK, providing our clients with a combination of advertising effectiveness and climate action in the biggest advertising market in Europe”
Advertising against pollution
Even though recent news pointed out that the Earth’s ozone layer is on track to recover completely within decades as ozone-depleting chemicals are phased out across the world, this is the second year in a row, the world is no longer making progress on the UN Sustainable Development Goals.
That situation is leaving climate change as the largest, most pervasive threat to the natural environment and societies the world has ever experienced.
Only the advertising industry is responsible for as much as 7,3% of the global gap in eCO2 emissions due to the unstoppable growth of spending in digital channels, resulting in a rampant increase in energy consumption to feed the trillions of real-time bids that take place throughout the programmatic ecosystem.
With this in mind, the global advertising industry responded by coming together last July around the Ad Net Zero program with the task of reducing emissions along the entire advertising value chain and charting the path to net zero emissions by 2030.
Tribaldata is supporting this effort by helping media agencies, advertisers, and publishers accelerate in getting to Net Zero through a combination of services around unique consumer insight and data on consumers, direct campaign emission offsetting, and access to usage of their platform.
Last year the company partnered with Xandr, a Microsoft Company that operated one of the largest global premium advertising marketplaces.