US climate technology start-up Watershed is set to create a co-headquarters in London.

The San Francisco-based company provides a software platform which allows companies to measure their climate emissions.

Watershed claims its clients include Monzo, Wise, Revolut, Kainos, Hopin, Spotify, Klarna, Sweden, and Dataiku.

The company has also brought on former Bank of England governor Mark Carney as a strategic advisor, as well as Christiana Figueres, a former executive secretary of the UNFCCC and an architect of the Paris Agreement.

In addition, Watershed has hired Ellen Moeller as its head of Europe.

Moeller previously served as Head of EMEA Partnerships at Stripe.

In the 100 days since the start of the COP26 conference last October, climate technology businesses have experienced a strong uplift in venture capital (VC) investment according to data from Tech Nation released in March.

“Europe is leading the world in the fight against climate change, setting ambitious targets and legislation across multiple policy areas, and binding emissions targets for key sectors of the economy,” said Taylor Francis, co-founder at Watershed. “We’re investing heavily in Europe to help businesses get the data, software, and support they need to accelerate decarbonisation efforts.”

“The private sector is a critical lever in solving climate change, and European businesses will be instrumental to that effort. I’m delighted to work with Watershed as they invest deeply in the region and help European businesses get to net zero,” said Mark Carney, former Bank of England governor. “In addition, we have the backing of prominent European investors Aglaé Ventures (the investment firm backed by Agache, the holding company of the Arnault family and the controlling shareholder of LVMH), David Helgason, founder of Unity, as well as Stripe co-founders Patrick and John Collison.”

He added: “The company raised $70 million at a $1 billion valuation in its Series B funding round in 2022.”

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