Real Impact Matters Most (RIMM) Sustainability, a Singapore-based software as a service (SaaS) platform for sustainability management, said Wednesday it has raised a total of $3 million in its pre- series A round on its quest to make sustainability accessible and actionable to small and medium sized enterprises (SMEs).
The funding round was led by venture capital fund BEENEXT and one of Japan’s most successful tech investors Mamoru Taniya, RIMM said in a statement.
Other key investors include the Aswani family of the conglomerate Tolaram Group and Atlas Asset Management.
RIMM said the funding is being used to develop and launch RIMM’s enhanced v2 platform, release new features and expand the team.
RIMM’s automated platform, launched in 2021, was built to address the needs of SMEs for simplified and affordable sustainability guidance and solutions. Since its v1 launch, it has secured key clients and partnerships, as well as being awarded a $1 million Green Finance grant by the Tokyo Metropolitan Government and a grant from the Monetary Authority of Singapore.
“We are delighted to have closed our pre- series A round, the pedigree of our investors is testament to our team, our platform and our roadmap. This is a great step towards our goal to become the world’s largest sustainability platform and create an ecosystem where companies, citizens and stakeholders can engage to identify and solve the most pressing sustainability problems of today and tomorrow,” said Ravi Chidambaram, Chief Executive Officer and Co-Founder of RIMM.
“The success of microfinance is based on banking the unbanked. At RIMM, our success as a sustainability platform will come from serving the unserved,” he added.
RIMM is an intuitive yet comprehensive SaaS platform that provides all companies, whether big or small, with intelligent tools for accessible and impactful sustainability management, reporting and optimization. Created and led by experts, the platform revolves around inclusivity and accessibility, focusing on unlocking an open world where sustainability is no longer elusive.
Its Key features for SMEs include industry-specific assessments aligned to global sustainability standards, benchmarking of sustainability performance against peers and industry, relevant and simplified educational guidance by sustainability experts, curated sustainability insights summarized on one comprehensive dashboard, carbon calculator to measure emissions across scope 1, 2 and 3, customizable sustainability reports for internal analysis and external communication to stakeholders, access to strategy and recommendations report to improve sustainability performance.
“RIMM has an excellent product and team. We invested in RIMM because we believe in their ability to transform the state of sustainability for SMEs. The sustainability space is dominated by opaque solutions and expensive consulting driven models, RIMM’s easy-to-use platform is perfectly poised to disrupt this trend and help all companies, whether big or small, make a real impact,” said Hero Choudhary, Managing Partner of BEENEXT.
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