Emitwise Secures $3.2M Funding for GHG Emissions Platform

Emitwise Secures Additional Seed Funding

Emitwise, a company developing an AI-driven platform for measuring greenhouse gas emissions, has expanded its seed funding round with a $3.2 million investment. This brings the total amount of seed funding raised by the startup to $6.6 million.

Investment Details

ArcTern Ventures spearheaded the latest $3.2 million raise. Several angel investors also participated, including Peter Harrison, CEO of Schroders, Magnus Rausing, and Saltwater, the investment firm founded by Uber co-founder Ryan Graves.

Additional investors in this round include True Ventures, Social Impact Capital, and Lightbird Ventures.

Platform Capabilities

Emitwise asserts that its platform is designed to automate carbon accounting throughout the entire supply chain. It aims to pinpoint areas of high emissions and seamlessly integrate with existing Enterprise Resource Planning (ERP) systems.

The platform is also built to ensure compliance with key auditing and disclosure frameworks such as CDP, GHG Protocol, and TCFD.

Company Statement

According to Mauro Cozzi, co-founder and CEO of Emitwise, the increasing global focus on climate action, particularly leading up to the COP26 summit, is driving demand. He stated that companies and investors increasingly recognize the financial implications of carbon emissions.

Cozzi further emphasized that a strategy aligned with net-zero goals represents a pathway to increased profitability, efficiency, and overall business resilience.

ArcTern Ventures' Perspective

Marc Faucher of ArcTern Ventures highlighted the growing pressure on businesses to provide accurate environmental data. He believes Emitwise provides crucial visibility into supply chain carbon emissions.

Faucher stated that this visibility is essential for developing and implementing effective mitigation strategies and incentives. ArcTern Ventures views Emitwise’s software as a transformative solution, establishing new benchmarks for comprehensive carbon footprint reporting.

Competitive Landscape

Emitwise operates within a growing market alongside other startups focused on carbon accounting. Companies like Watersheds and Plan A, both of which have recently secured funding, represent key competitors in this space.