RIMM Sustainability, a Singapore tech start-up, has raised a total of US$3million in its pre-series on its quest to make sustainability accessible and actionable to SMEs.
RIMM Sustainability, a Singapore tech start-up, has raised a total of US$3million in its pre-series A round on its quest to make sustainability accessible and actionable to SMEs.
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, RIMM has secured key clients and partnerships, as well as being awarded a USD$1 Million Green Finance grant by the Tokyo Metropolitan Government and a grant from the Monetary Authority of Singapore.
The US$3 million funding round was led by venture capital fund BEENEXT and one of Japan’s most successful tech investors Mamoru Taniya, other key investors include the Aswani family of the conglomerate Tolaram Group and Atlas Asset Management. The funding is being used to develop and launch RIMM’s enhanced v2 platform, release new features and expand the team.
Hero Choudary, Managing Partner, BEENEXT said: “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.”
Ravi Chidambaram, CEO and Co-founder, RIMM, said: “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.”
“The success of microfinance is based on banking the unbanked. At RIMM, our success as a sustainability platform will come from serving the unserved.” Ravi added.
The RIMM platform, created and simplified by experts, provides SMEs with a simple yet actionable way to start their sustainability journey. The user-friendly platform has intelligent tools that enables sustainability management, reporting and optimization.