• Saudi Arabia-based climatetech startup Remedium has raised $1.5 million in a pre-Seed round led by Kaltaire Investments.
• Founded in 2021 by Fawaz Abu-Ghazaleh, Remedium develops a carbon management and sustainability technology platform that helps businesses measure, manage and reduce their environmental footprint through digitalisation, automation and data analytics.
• The company plans to use the funding to expand its AI and machine-learning capabilities, including physical-risk modelling, forecasting and document generation.
• Part of the investment will go towards expanding Remedium’s computing infrastructure in Saudi Arabia to strengthen data sovereignty and keep client data within the Kingdom.

Press release:

Saudi Arabia-based climatetech startup Remedium has raised $1.5 million in a pre-Seed funding round led by Kaltaire Investments.

Founded in 2021 by Fawaz Abu-Ghazaleh, Remedium develops technology focused on carbon management and sustainability accounting. Its platform enables businesses to measure, manage and reduce their carbon footprint through digitalisation, automation and data-driven sustainability tools.

The company plans to use the fresh capital to further develop its artificial intelligence and machine-learning capabilities, including physical-risk modelling, forecasting and automated document generation. It also plans to enhance its Climate Intelligence offering to provide organisations with additional analytics and contextual insights around environmental data.

Remedium will expand its sustainability accounting offering with new modules covering water, waste and energy. The modules will incorporate dedicated key performance indicators and document templates, enabling companies to capture and analyse a broader range of operational and environmental data.

The startup also plans to expand its computing infrastructure in Saudi Arabia, with the aim of ensuring that client data remains secure and stored within the Kingdom as part of its focus on data sovereignty.

“The need for sustainability accounting is more relevant than ever,” said Fawaz Abu-Ghazaleh, CEO of Remedium, pointing to the increasing prominence of sustainability in corporate decision-making, public-private partnerships and consumer behaviour.

Remedium has previously participated in Saudi Arabia’s NextEra deeptech programme, a collaboration between King Abdullah University of Science and Technology (KAUST) and the National Technology Development Program (NTDP). KAUST describes Remedium as one of the programme’s sustainability and climatetech startups, focused on AI-powered carbon accounting.