Tuesday, July 16, 2024

Jejakin secures new funding to accelerate climate actions with technology

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Jejakin, an Indonesian-based climate tech provider focusing on carbon management platform, has secured new funding of US$2.7 million to finance major areas of R&D, technological improvement, and market growth.

The funding has come from a consortium of PT ITM Bhinneka Power, along with several venture capital firms in Southeast Asia and corporates such as Indogen Capital, SMDV and East Ventures.

“We are pleased to receive support from such a renowned consortium of investors, one of them is East Ventures,” Arfan Arlanda, CEO & Founder of Jejakin, said. “We are confident it will drive us forward in our mission to enhance environmental conditions by accelerating climate actions with technology.”

Founded in 2018 − by Arfan Arlanda, Sudono Salim (Chief Growth Officer), Andreas Djingga (Chief Operation Officer), and Haris Iskandar (Chief of Sustainability and Climate Change) − Jejakin was established with the vision of empowering businesses and individuals to make a positive impact on the environment. The co-founders believe that collective contributions from companies and individuals are crucial to overcoming climate change.

Climate change stands as one of the most critical challenges facing the Earth today, impacting all nations, including Indonesia. Asian Development Bank (ADB)’s report identifies Indonesia as one of the countries most vulnerable to climate change, experiencing rising sea levels, extreme weather events, and disruptions to agricultural production.

In recognition of this urgency, the Indonesian government has taken proactive steps, by participating in the Voluntary Carbon Market (VCM) and recently implementing a mandatory carbon market. This new market aims to achieve Enhanced Nationally Determined Contribution (ENDC) targets, which are national pledges to reduce greenhouse gas emissions for specific sectors like energy and manufacturing. This forward-thinking policy creates a significant opportunity for innovative solutions like Jejakin’s platform to empower businesses to meet these crucial sustainability goals.

In response to that, Jejakin offers AI (Artificial Intelligence) and IoT (Internet of Things)-based solutions that help companies achieve their zero emissions targets. The integrated Jejakin platform allows companies to carry out emission calculations from operational activities, making it easier to determine, execute, and report their sustainability plans, including nature-based and carbon-related projects − thus, helping companies reduce their emissions.

The company provides three main products: CarbonIQ, CarbonAtlas, and CarbonSpace. CarbonIQ, the carbon accounting platform, assists businesses in calculating their operational emission footprint of all scopes (Scope 1, Scope 2, and Scope 3), while CarbonAtlas is the monitoring platform that utilizes a remote sensing technology stack of satellites, IoT sensors, and mobile apps to verify the credibility of climate programs engaged by businesses through on-ground checks.

The CarbonAtlas platform monitors more than 1 million trees that have been planted together with Jejakin’s clients and partners across Indonesia, allowing users to get visibility on the positive impacts the project has brought to the area such as: Carbon Sequestration, Soil & Air Quality, and Biodiversity Index.

Lastly, CarbonSpace is Jejakin’s integration app connected to CarbonIQ and CarbonAtlas, allowing businesses and their stakeholders to directly contribute to climate actions.

Currently, Jejakin supports over 30 clients across diverse sectors, such as Gojek, BCA, Telkomsel, and Indosat Ooredo Hutchison, helping businesses reduce their emissions and optimize their sustainability plans.

“We are pleased to be part of Jejakin, a climate tech company who share a vision with IBP, to accelerate climate actions with technologies. This strategic move is part of our aspirations to support the Government’s target for ENDC and encourage the involvement of more people in efforts to create a more sustainable world,” Niwat Boonyad, President Director of PT ITM Bhinneka Power, said.

“Jejakin’s mission truly aligns with East Ventures’ commitment to catalyzing environmental stewardship and bringing positive impacts to our planet. With the robust experience and expertise of Arfan and the team, we are excited to forge and foster a sustainable future together,” Avina Sugiarto, Partner at East Ventures, said.

In the journey, Jejakin has achieved several milestones, the latest being certified as a B Corporation in October 2023. B Corp, a certification conferred by B Lab, is one of the most renowned sustainability certifications in the world − it recognizes Jejakin’s commitment to social and environmental good alongside its profitability.

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