Climate Tech Start-up URECA Closes Pre-Seed Funding Round at US$1.5 million

(Orchlon Enkhtsetseg, Chief Executive Officer and Founder of URECA)

URECA, a Singapore-headquartered climate tech company, has announced the close of its pre-seed fundraising round at US$1.5 million, exceeding the company’s original target to raise US$1 million.

This funding will be used to scale URECA’s operations across Southeast Asia and to accelerate the launch of its unique marketplace that enables people to invest directly into climate solutions, planned for early 2023.

Originating from Mongolia, and with headquarters in Singapore, URECA is on a mission to empower and mobilise grassroots communities against climate change by providing a universally accessible platform for high-quality carbon offsets. 

In addition to providing a marketplace for high-quality carbon offsets as investable assets, for the first time ever URECA’s digital MRV (measurement, reporting and verification) technology enables individual households and SMEs transitioning to clean energy to produce and sell carbon offsets.

These can range from the homeowner with a rooftop solar panel to a company owning a large wind farm. URECA’s proprietary digital MRV technology uses IoT engineering and machine learning to remotely verify carbon offsets which then can be traded on the company’s blockchain-powered marketplace to provide a transparent and accessible platform for verified, high-quality carbon credits. 

“We believe that the level of funding we received from so many investors indicates strong confidence and interest in URECA’s business model and mission to empower and mobilise grassroots participation to take climate action on a more global scale,” said Orchlon Enkhtsetseg, Chief Executive Officer and Founder of URECA. “This pre-seed investment round positions us to be able to get more people involved in the fight against climate change and will enable us to become a leading climate tech player in the region.”

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