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TRST01 seeks USD $10 million for expansion in ESG tech

Tue, 19th Nov 2024

TRST01, a Singapore-India-based sustainable technology company, is seeking to raise USD $10 million Series A funding round to expand its operations as demand for ESG compliance solutions rises globally.

The global ESG investing market was valued at USD $25.10 trillion in 2023, and forecasts predict an 18.8% annual growth through 2030. TRST01 is set to capitalise on this increasing trend by expanding its reach and capabilities.

Manoj Vembu, Director and investor in TRST01, stated, "The green technology sector is experiencing unprecedented growth, particularly in Asia-Pacific, where investment reached $368 billion in 2021." 

The company's platforms, including TRST01Chain and Footprint, support corporations in achieving compliance with regulations such as the European Union Deforestation Regulation (EUDR) while also generating new revenue streams for producers. TRST01 aims to use the funding to scale operations to serve more industries and regions, enhance technology for better data collection and analysis, and expand community impact initiatives in underserved markets.

TRST01 has been making headway with its implementation across nine markets in Asia and Africa. The company is particularly gaining traction among major producers and manufacturers in industries such as rubber. Notable companies like Apollo Tyre, JK Tyre, BKT Tyre, and Ceat Tyres utilise TRST01's platforms for regulatory compliance and supply chain transparency.

Additionally, the company has reported operational benefits and improved customer satisfaction for its clients. Kenko Eggs by OVO Farm revealed that in just one year of implementing TRST01Chain, the platform had significantly optimised its inventory management, enhancing customer engagement through a verifiable storytelling platform.

The Southeast Asian region remains a priority for sustainable investments. Estimates indicate that to reach climate goals, USD $1.5 trillion will be needed by 2030. The Asian Development Bank suggests that USD $210 billion needs to be invested annually in sustainable infrastructure across the region.

TRST01's solutions offer economic benefits as well. By meeting EUDR standards, farmers can access premium markets, benefit from techniques that increase yields, and secure significant premiums—up to USD $150 per metric ton for coffee and USD $300 per metric ton for EUDR-compliant natural rubber. A portion of this premium flows directly to the farmers.

Prabir Mishra, CEO of TRST01, said, "As regulations like the EUDR and Corporate Sustainability Due Diligence directives take effect, companies face increasing pressure to verify their environmental claims. Our technology provides the infrastructure to meet these requirements while creating value throughout the supply chain."

For four years, TRST01 has been operating profitably and developing strategic partnerships, such as a Memorandum of Understanding with India's Rubber Board, which underpin its capability to assist exporters in meeting international sustainability standards.

Mishra noted, "We are addressing a critical market need. Our customer base are companies that are pursuing ambitious climate targets, and solutions like ours that enable transparent, verifiable sustainability practices are fast becoming essential infrastructure for global trade."

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