Asuene buys Secaro in GBP £87 million funding push

ASUENE has acquired UK supply chain carbon management platform Secaro and raised USD $87 million in a Series D funding round.

The acquisition is ASUENE's eighth and comes as the Japanese sustainability software company expands further in the UK, Europe and North America.

The round was led by Decarbonization Partners, the investment venture backed by BlackRock and Temasek. It marks Decarbonization Partners' first investment in Japan and brings ASUENE's total funding to USD $161 million.

The Series D included USD $43.8 million in new capital and USD $19.3 million in debt financing from Sumitomo Mitsui Banking Corporation. It also included eight new and existing domestic and international investors, including DAIKIN and RICOH.

Proceeds will support mergers and acquisitions in Europe, North America and Asia, along with product development and the launch of new businesses.

Expansion push

UK-based Secaro provides supply chain sustainability data collection, analytics and supplier decarbonisation programmes for manufacturers. The business serves customers across a network of more than 8,000 companies in over 90 countries.

According to ASUENE, its customer base includes manufacturers such as Toyota, Honda and GM. Secaro, formerly known as Manufacture 2030, has also been used by brands including M&S, Ocado Retail, AstraZeneca and Honda.

The deal adds a business focused on supply chain emissions, an area of growing attention for manufacturers facing tougher disclosure requirements. Scope 3 emissions, which cover indirect emissions across a company's value chain, often account for the largest share of a manufacturer's carbon footprint.

In Europe, large companies are already reporting sustainability data under the Corporate Sustainability Reporting Directive. In the UK, Sustainability Reporting Standards aligned with the International Sustainability Standards Board have been proposed for listed companies.

ASUENE said it had doubled its customer base to 56,000 over the past year across Asian, North American and European markets. The company is positioning itself as an active acquirer as it seeks a larger international presence in sustainability reporting and supply chain emissions management.

Founder and Chief Executive Officer Kohei Nishiwada linked the Secaro acquisition to ASUENE's broader expansion plans.

"Since signing our business alliance agreement with Secaro in July 2025, the two companies have built deep mutual trust while exploring how far we could take our collaboration. Today, I'm honored that Secaro has made the decision to join the ASUENE group. My heartfelt thanks go to CEO Toby, the leadership team, the shareholders, and everyone who helped bring this together.

Secaro serves the supply chains of some of the world's largest manufacturers, including major players in automotive and pharmaceuticals. By joining forces with ASUENE, we'll deliver even greater value to those customers, connecting supply chain data not only across the U.S. and Europe but globally, including Japan and Asia, strengthening our product-level CO2 and LCA capabilities, and helping companies throughout the supply chain cut both energy costs and CO2 emissions. Together, we intend to unlock the full power of this combination and become the clear leader in manufacturing supply chains," Nishiwada said.

Investor backing

The fundraising gives ASUENE fresh backing as investors continue to target companies focused on emissions measurement and compliance. Businesses in the sector have drawn interest as governments and regulators increase pressure on companies to track and disclose climate-related data across operations and supply chains.

Global Head and CIO Dr Meghan Sharp of Decarbonization Partners said: "As companies face increasing expectations to measure and reduce emissions across their operations and supply chains, sustainability data is evolving from a reporting requirement into a strategic business tool. ASUENE enables organizations not only to meet evolving disclosure requirements, but also to use emissions data to improve efficiency and drive better business outcomes. We're excited to partner with the ASUENE team as they expand as an international integrated sustainability services company."

Nishiwada described the financing as a lengthy process involving a broad group of investors and stakeholders.

"We're honored to announce the close of our Series D round, a total of US$87 million, led by Decarbonization Partners, BlackRock's dedicated decarbonization investment fund. This was a complex, high-stakes deal that took roughly ten months to bring home, involving a wide range of investors and stakeholders. We navigated it against a backdrop of rapid change in the market, most notably the rise of generative AI, and worked through no shortage of hard problems along the way. That we reached this close is a testament to the dedication and drive of everyone involved, inside and outside the company. To all of them, my deepest respect and gratitude.

Alongside world-class institutional investors like BlackRock and Temasek, our team is moving as one to accelerate further M&A, expansion across Japan, global growth, and our shift to an AI sustainability integrated company. As an AI sustainability integrated platform built in Japan and taking on the world, we're committed to driving social impact and creating value at a scale never seen before," Nishiwada said.

For Secaro, the sale gives the UK business access to a larger owner with broader geographic reach as manufacturers seek help gathering emissions data from suppliers.

"Joining ASUENE is an exciting new chapter for Secaro. From the very beginning, our mission has been to help manufacturers work more effectively with their suppliers to reduce emissions across global supply chains. By combining Secaro's deep expertise in supplier engagement with ASUENE's technology, AI capabilities and international reach, we'll be able to innovate faster, deliver even greater value to our customers and help accelerate decarbonisation at global scale. I'm incredibly excited about what we can achieve together," Newman said.