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August 19, 2021 | Tom Ballard

Southern Company spins-out start-up launched by employee idea

A start-up that originated as an employee idea for improving customer adoption of renewable energy and carbon neutrality product offerings has now been spun-out of the Southern Company.

Cloverly, the leading Application Programming Interface (API) for carbon offsetting, had announced the closing of a $2.1 million seed round in June that was led by Tech Square Ventures with the SB Opportunity Fund (SoftBank) as well as Circadian Ventures, Knoll Ventures, Panoramic Ventures, and SaaS Ventures participating as other major investors. Southern Company retains a minority ownership stake in the company.

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