UAE-Based Coral Secures $3 Million in Seed Funding
Coral provides an AI-driven platform designed to manage carbon emissions for businesses.
Coral, a climate tech startup based in the UAE, has wrapped up its seed round, raising $3 million in funding. The round was led by experienced tech investors with a collective 40 years in the industry.[1]
Coral provides an AI-driven platform designed to manage carbon emissions for businesses. It automates the collection of carbon data, evaluates carbon footprints, and supports reporting and offsetting in a single system. E-commerce companies can also offer customers a one-click carbon offsetting option at checkout, encouraging more sustainable shopping.
The platform’s blockchain backend ensures traceability of carbon credits and real-time auditing of offsets, providing transparency and quality assurance.
Coral has formed partnerships, including a collaboration with Nissan. Since last year, Coral has been calculating carbon footprints and providing offsetting solutions for Nissan's Formula E team. The Emissions Management System (EMS) is also live for other clients and is onboarding major corporate customers. The company has also partnered with international climate organizations to expand its reach.
The platform aims to help businesses make informed climate action decisions.
Coral’s Carbon Offset API enables companies in delivery, tourism, and utilities to integrate real-time carbon offsetting into their platforms. It has offices in Dubai and plans to expand to Abu Dhabi.