Saudi sustainability technology startup Remedium Network has raised $1.5M in a pre-seed investment round led by Kaltaire Investments, with participation from angel investors, according to the company.
Founded by Fawaz Abu-Ghazaleh, Remedium provides software for sustainability data analytics and greenhouse gas emissions accounting across Scopes 1, 2 and 3. The company says its platform processes enterprise data to produce audit-ready disclosures, reporting and analytics.
Remedium plans to use the funding to expand its AI and machine learning capabilities, including physical risk modelling, forecasting and document generation. It also plans to launch accounting modules for water, waste and energy, each with its own KPIs and document templates.
The company is further expanding its computing infrastructure to keep client data within Saudi Arabia, in line with its focus on data sovereignty. Remedium says its platform serves organisations in Saudi Arabia and the wider MENA region.
Source: LinkedIn
