Diagram is a venture builder that conceives and launches technology companies in the financial services, insurance, and health industries.  Working alongside world-class founders, we combine access to venture capital investment, hands-on support, and a deep ecosystem of partners into a unique platform to launch a business and pursue global success.

Diagram Ventures

Inovia Capital is a venture capital firm that works with founders to create influential and permanent businesses. The team leverages an operator mindset to provide founders with support, mentorship, and access to a worldwide network. Inovia manages over US$2.2B with operations in Montreal, Toronto, Calgary, San Francisco, and London.

Inovia Capital

White Star Capital is a global venture capital fund and multi-stage technology investment platform investing in North America, Europe and Asia. It backs exceptional entrepreneurs globally, leveraging their extensive experience and networks to help them scale their businesses internationally. Operating out of New York, London, Montreal, Toronto, Paris, Tokyo and Hong Kong, its presence, perspective and people enable it to partner closely with Founders to help them scale internationally from Series A onwards.

White Star Capital

Portage Ventures is a global fintech-focused venture capital investor. The firm makes early-stage investments in promising Canadian financial tech companies that have potential for global impact.

Portage Ventures

SCOR Ventures is a closely integrated part of SCOR’s L&H and P&C business units that invests in and partners with early stage Insurtech companies. SCOR Ventures forms collaborative, long-term partnerships with digital-first insurers, MGAs and distributors, software solutions that benefit SCOR and/or our clients, and companies that help people live healthier lives, in support of industry innovation and SCOR’s Global business.  We invest across three thesis areas:  Thesis 1: SCOR Ventures invests and partners in the ‘Insurers of the Future’: tech-driven underwriting companies (MGAs, carriers) that offer multiple points of digital and business model differentiation across P&C and L&H.  Thesis 2: SCOR Ventures invests and partners in software solutions that benefit SCOR and/or our clients.  Thesis 3: SCOR Ventures invests at the intersection of health and technology and partner with companies that help people live healthier lives, deliver in-force or claims outcome improvements, develop new business or add to SCOR’s Knowledge Center capabilities.

SCOR Ventures

Novisto

Novisto is end-to-end enterprise software for smarter corporate sustainability management, empowering companies to create value from their ESG strategy, data, and reporting. Novisto streamlines every step of the sustainability management journey while helping companies own their ESG narrative. Our purpose is to advance a more inclusive and resilient society by enabling organizations to create value through sustainability.

<div>Canada-based Novisto develops ERP software for ESG data management solutions. This allows companies to adopt a data-centric approach to standardize and streamline their ESG reporting activities to align with relevant disclosure regulations. The platform offers AI-driven carbon insights, benchmarks competitors, and provides recommendations for best practices.</div>

New technology allows individuals and organizations to become carbon intelligent

Carbon Management Software

Novisto closes a US$20 million Series B financing round

SINAI Technologies

Novisto partners with SINAI Technologies to enhance ESG management and decarbonization efforts

Pure-play software solutions that measure, monitor, analyze, and report carbon footprints of internal business operations including ESG management and reporting software. Excludes supply chain and other Scope 3 carbon intelligence solutions.

<div>
 
 Canada-based Novisto develops ERP software for ESG data management solutions. This allows companies to adopt a data-centric approach to standardize and streamline their ESG reporting activities to align with relevant disclosure regulations. The platform offers AI-driven carbon insights, benchmarks competitors, and provides recommendations for best practices.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 In 
 <a href="https://novisto.com/q4-inc-and-novisto-partner-to-enable-next-gen-esg-data-management-and-communications/">
 May 2023
 </a>
 , the company partnered with Q4 Inc., a capital markets access platform to give the latter&rsquo;s customers access to Novisto&rsquo;s ESG data management software platform. In September 2023, Novisto also partnered with Tangelo, a corporate reporting software provider, to integrate their solutions to develop an end-to-end sustainability tool for reporting purposes.&nbsp;
 In 
 <a href="https://sp-edge.com/updates/28525">
 April 2024
 </a>
 , the company partnered with SINAI Technologies, a similar ESG data management platform to generate actionable insights and support strategic decision-making.&nbsp;
 
 
 
 
 Novisto supports global companies including Meta, Asana, Manulife, JetBlue Airways and Sanofi, and allows them to improve their ESG data collection and reporting function. The company&rsquo;s geographical presence spans North America and Europe.&nbsp;
 
 
 
 
 Funding and financials
 
 
 The company&rsquo;s most recent funding round was in 
 <a href="https://sp-edge.com/updates/18839">
 May 2023
 </a>
 , when it raised USD 20 million in a Series B funding round led by Inovia Capital. The funds were used to scale up its product development activities and expand its existing customer base. Part of the funds were also used for team expansion globally.
 
 
 
 
 
 
 
</div>

<div>
 
 Circular IQ is a Netherlands-based digital platform that offers SaaS-based solutions for businesses to assess their circular performance through smart data-gathering and analytics. Circular IQ collects and analyzes supplier-specific data and provides tailor-made reports for businesses about the circularity of their operations.&nbsp;
 
 
 Circular IQ offers three main services 1) Circular Procurement Program, a service that monitors and reports the circular performance of a business&rsquo;s existing supply chain, 2) Product Circularity Improvement Program, a service in collaboration with KPMG to identify areas where the circularity of an existing supply chain can be improved, and 3) Circular Transition Indicators (CTI) Program, a service that supports and guides businesses through circular transition.
 
 
 Key customers and partnerships
 
 
 In March 2024, Circular IQ reported more than 2,000 CTI customer accounts in 94 countries. Microsoft, KPMG, Whirlpool, Saudi Aramco, Aptar, Rabobank, bp, Deloitte and Royal DSM were some of Circular IQ&rsquo;s high-profile clients.&nbsp;&nbsp;
 
 
 
</div>

Circular IQ

<div>
 
 Cloverly offers an API-based digital infrastructure for voluntary carbon markets (VCM). The Cloverly platform is used by both corporate buyers and project suppliers. Buyers can directly purchase carbon removal credits through its platform or integrate its technology into their products, services, or supply chains. Similarly, project suppliers leverage the Cloverly Marketplace and the supplier software, to manage commercial operations such as inventory management and tracking of carbon credit sales. The supplier platform offers carbon credits from suppliers including Therm, KOKO Networks and CarbonCure. For each carbon credit purchase, Cloverly produces a unique transaction receipt and certificate.&nbsp;
 
 
 Key customers and partnerships
 
 
 Leading companies such as American Express, Salesforce, Visa, have added Cloverly to their platforms to facilitate the purchase of carbon offset credits. The online gift card company, Instagift, also allows its customers to offset emissions through Cloverly. In November 2021, Clovery partnered with Diversifi to launch a service that offsets the crypto-carbon footprint. In May 2022, Cloverly also partnered with 
 <a href="https://sp-edge.com/updates/11507">
 BeZero Carbon
 </a>
 to obtain third-party ratings and independent quality assessments and 
 <a href="https://sp-edge.com/updates/11506">
 Redwood Logistics
 </a>
 to measure freight emissions and offset those via carbon credits in July 2022. In November 2023, the company also collaborated with Sustain.Life, a B2B carbon intelligence startup, to supply carbon credits. As of February 2024, the Cloverly platform was used by over 300 global enterprises.&nbsp;
 
 
 Funding and financials&nbsp;
 
 
 Cloverly&rsquo;s most recent funding was in May 2023, when it raised USD 19 million in a 
 <a href="https://sp-edge.com/updates/18533">
 Series A funding
 </a>
 round led by Grotech Ventures. In July 2021, Cloverly raised USD 2.1 million in a seed funding round led by TechSquare Ventures. As a part of the transaction, Cloverly was also spun out from Southern Company, an American gas and electric utility where it was incubated.
 
</div>

Cloverly

UK-based Giki offers two mobile apps to reduce the personal carbon footprint of its users:Giki Badges is an app that allows users to find sustainable and healthy products in supermarkets through 15 unique badges to UK supermarket products based on sustainability, health, and fairness. Customers can scan the product barcode to find the badges that are being awarded to the product. Giki Badges reported awarding badges to over 280,000 supermarket products.Giki Zero is an app that allows users to calculate and reduce the personal carbon footprint. Giki Zero estimates the personal carbon footprint of a user based on a lifestyle survey (a set of detailed questions about the user’s lifestyle) and provides customized advice to reduce the user’s carbon footprint. Giki Zero Pro is an extension of the same product for businesses which allows employees to monitor and reduce their carbon footprint.Key customers and partnershipsIn April 2023, Giki partnered with <a href="https://www.compass-group.co.uk/media/news/compass-partners-with-social-enterprise-giki-to-empower-its-45k-strong-workforce-to-reduce-their-carbon-footprint/">Compass Group </a>, a UK-based food and support services provider, to calculate and reduce the personal carbon footprint of its employees. As of March 2024, Giki had worked with over 100 global customers, including NatWest Group, Federated Hermes International, BBC, Deloitte, Adobe and Accenture, among others.

Giki

<div>
 
 Canada-based Metrio primarily offers SaaS-based Environmental, Social and Governance (ESG) reporting solutions for businesses. Metrio allows companies to monitor their ESG performance in real-time using dashboard tools to create customized reports based on any standard ESG framework. In addition to ESG reporting, Metrio also offers ESG industry benchmarking, supply chain ESG monitoring, and ESG investment management services.&nbsp;
 
 
 Key customers and partnerships
 
 
 In June 2022, Metrio was acquired by Nasdaq. After the acquisition, Nasdaq integrated Metrio&rsquo;s SaaS platform into its suite of ESG solutions. Metrio continued to remain an independent company and brand after the investment. 	
 
 
 As of January 2024, Metrio software was used by over 5,000 clients, including 100+ multinational companies across financial, food, manufacturing, retail, and transportation sectors. Major customers include Target, Air Canada, Decathlon, and Aldo.
 
</div>

Metrio

<div>
 
 Proof (formerly Proof of Impact) is an Impact-as-a-Service (IaaS) company based in the Netherlands. Proof offers a range of SaaS-based digital tools for businesses and investors to collect, verify, and analyze real-time sustainability data from community assessments, IoT devices, and corporate disclosures. The company also verifies and secures them using blockchain technology and presents them in a quantifiable form for sustainable decision making.&nbsp;
 
 
 
 
 Proof&rsquo;s services include: 1) Digital consultancy&ndash;digital assessments to create and deploy a company&rsquo;s sustainability strategy, 2) Impact dashboard&ndash;an end-to-end solution to collect, verify, analyze, and report sustainability data, and 3) Impact Catalyst Cloud&ndash;cloud-based tools and API solutions for tracking, verifying, and investing in sustainability projects. Proof also operates a marketplace for sustainability projects where investors may directly select, and fund verified sustainable projects.&nbsp;
 
 
 
 
 Key customers and partnerships
 
 
 
 
 In May 2023, the company 
 <a href="https://resources.proof.io/press-release-assetmetrix-and-proof-join-forces-to-offer-an-integrated-sfdr-focused-esg-solution-to-private-market-clients/">
 partnered
 </a>
 with AssetMetrix, a German-based next generation asset servicer, to offer an integrated solution for ESG data collection, reporting and optimization.&nbsp;
 
 
 
 
 Funding and financials
 
 
 
 
 Proof&rsquo;s most recent funding was in August 2022, when it raised USD 6 million in a 
 <a href="https://sp-edge.com/updates/12037">
 pre-series A funding
 </a>
 round led by Rakuten Capital. Previously in December 2021, the company raised USD 2.3 million in a seed funding round led by Altera Investments.&nbsp;
 
 
 
</div>

Proof of Impact

Software for offsetting business carbon footprints including carbon intelligence startups that also offer offsetting solutions. Primarily includes instant offsetting services and carbon trading marketplaces.

Pure-play software solutions to measure, monitor, and analyze personal carbon footprints.

Software solutions to reduce, and offset personal carbon footprints including carbon intelligence startups that also offer offsetting solutions.

Pure-play software solutions that measure, monitor, analyze, and report carbon footprints from supply chains and other Scope 3 emissions.

Carbon trading marketplaces that allow individual and business users to buy and sell carbon offsets.

Solutions used improve carbon tracking transparency across internal and external business operations

Provides tools to monitor and offset CO2 emissions using reforestation, renewable energy credits, etc

Some carbon trading marketplaces are blockchain based (e.g., Nori)

Some carbon tracking companies use AI to measure and report CO2 emissions (e.g., Persefoni)

PROMINENT_CATEGORY

<div>

 Canada's Novisto, a company specializing in ESG data management software, has formed a strategic alliance with SINAI Technologies, an entity offering a platform that digitizes and streamlines the process of measuring carbon footprints.
 This collaboration offers companies the power to exploit not only their carbon and ESG data, but also use the data to generate important and actionable insights which will aid in strategic planning and decision-making.
 With SINAI's decarbonization solution integrated into the Novisto platform, the partnership ensures cost-effective and scientifically-grounded carbon mitigation for companies aiming for net-zero carbon emissions. This joint venture fortifies Novisto's ESG management portfolio, letting global companies enhance their sustainability targets and achieve their emissions reduction goals.

</div>

Novisto

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