The UAE-based Zero Carbon Ventures has raised $5 million in seed funding from Emirati businessman and Dubai ruling family member Sheikh Ahmed bin Mana bin Khalifa Al Maktoum.
The firm focuses on bringing carbon-reducing technologies to the MENA region.
Sheikh Ahmed was also appointed as strategic investor and chairman of the board of directors, Zero Carbon Ventures said in a statement on Thursday.
Zero Carbon, which has offices in Masdar City and Abu Dhabi Global Markets, invests and applies technologies to tackle waste and pollution across four key pillars: waste, water, energy and materials.
The funding will help the company deliver decarbonisation projects and accelerate its efforts towards global sustainability initiatives on a wider scale, it said.
(Writing by Brinda Darasha; editing by Seban Scaria)