Cedara Raises USD$2.7m (£2.2m) in Seed Funding to Decarbonise the Media Industry
by Newson 30th Nov 2022 in
Cedara, the first end-to-end carbon intelligence platform for the media industry, has raised USD$2.7m (£2.2m) in a seed funding round led by prominent angel investors from the enterprise marketing software industry with additional support from executives in private equity, publishing, and advertising technology. The investment will accelerate the commercial rollout of Cedara’s sustainable media solutions in the US, UK, and international markets.
As the only carbon intelligence platform built for advertising, Cedara is able to measure, report comprehensively, and reduce carbon emissions across the media supply chain, including, but not limited to, media distribution, advertising production, events, and business operations. Cedara enables ad platforms, publishers, and vendors to easily share carbon data with media agency account teams and brands, so they can seamlessly track their overall carbon footprint from campaign activities and their reduction efforts towards net zero. Additionally, the advertising industry has collectively stated a net zero target year of 2030 through the Ad Net Zero climate action initiative - a goal that Cedara supports and will enable its clients to achieve.
“Sustainability is now front and centre for the advertising industry as government regulators, investors, and consumers now demand carbon emissions transparency and action from both brands and their media supply chains,” said David Shaw, CEO of Cedara. “In order to decarbonise, the media industry needs to start with data. We’re excited to scale our media solutions across the ecosystem to provide comprehensive emissions measurement and ultimately implement reduction strategies to achieve net zero in 2030.”
Led by co-founders, David Shaw and Andrei Baragan, who are former executives of the global digital advertising platform Teads, Cedara’s team brings decades of experience in advertising and has a history of commercialising leading software solutions globally for brands, agencies, and publishers. Since the official launch of the Cedara platform earlier this year, dozens of companies have on-boarded or are in the process of onboarding to start measuring and reducing their carbon footprints and making their carbon data actionable for media buyers.