Tracera - Series A, $12M

What do you get when a former Bain strategist and a Wharton-trained sustainable finance brain walk into the mess that is ESG reporting?Apparently, Tracera, a company bold enough to take the most broken part of enterprise sustainability and build an AI engine that doesn’t just patch it… it dissects it, reconstructs it, and then puts it on rails.

Founded in 2023 as ESG Flo and rebranded to Tracera in January 2025 (because let’s be honest, Flo sounded like a fintech mascot), the company just closed a $12M Series A led by Foundry, with firepower from Rho Ignition, Tola Capital, and Contour Venture Partners. That brings their total raise to $17.25M. Valuation’s tight-lipped, but the traction? Loud.

Let’s talk receipts. Tracera’s not dabbling. They’re embedded in operations across 30+ Fortune 2000s, including EnerSys, La-Z-Boy, Hirschmann Automotive, and Glamox. Their clients are shaving up to 85% off the cost of sustainability data management and ditching the spreadsheets like it’s 1999. One million data points processed, 13 countries represented, and not a single intern manually chasing down Scope 3 emissions. Welcome to the grown-up table.

And they didn’t just build a better dashboard. They built an AI-backed system that can pull emissions data from invoices in Croatian, supplier docs in Mandarin, and HR logs from three ERPs you didn’t know still existed. It then applies environmental consultant logic, real, finance-grade stuff, and auto-generates disclosures that make regulators smile and auditors weep with joy. Oh, and they wrapped it with blockchain-based digital product passports so companies can stop playing broken telephone with their supply chains.

This round gives CEO Patrick Obeid, and co-founders Chiara Meacci and Sandeep Chand, the fuel to go full throttle with 60% of funds are going into AI/ML, 30% into global ops (with a clear eye on Europe), and the rest to scale the team. Coming down the pipe: a real-time supplier engagement dashboard in Q3 and an automated CSDDD module in Q4. That’s not just keeping up with EU regulations. That’s dictating pace.

With Seth Levine (Foundry) joining the board, alongside heavyweights like Habib Kairouz (Rho), Karolin Beck (Tola Capital), and @Patrick Quinlan (@Confidence), the cap table now reads like a who’s who of smart capital betting on an ESG world that’s finally accountable.

Tracera’s name isn’t just a branding play. It’s a statement, this is a company tracing emissions, tracing accountability, and tracing the future of enterprise sustainability through AI that doesn’t flinch.