Sustainability firm Carbonfact has raised $15 million in Series A funding. This investment empowers the company to help fashion automate environmental reporting.
Carbonfact, a carbon management software, has secured $15 million in a Series A funding round. European VC Alven led the round, with Headline and Y Combinator also investing.
According to the press release, over the next year, Carbonfact will focus on helping textile retailers and manufacturers measure and cut emissions in line with upcoming regulations. They’ll also expand their global onboarding teams. Recently, the company launched new modeling tools for fashion brands, allowing them to understand how changes in product design or supplier choices impact carbon footprints before products are made. This allows them to focus on reducing emissions instead of offsetting them.
Marc Laurent, CEO and Co-founder of the company shared: “After meeting with hundreds of textile brands and suppliers we realized that collecting data and reporting on all product and supply-chain information is a complex task that requires more comprehensive data management than spreadsheets allow. We believe that fashion brands should be able to measure and report on climate progress with limited manual work.”
Bartosz Jakubowski, Partner at lead investor Alven, said: “We strongly believe the future is about vertical and product-centric Carbon Management Platforms, and we were impressed by the leadership position that Carbonfact has been able to take on the fashion industry”.
About Carbonfact
Founded in 2021, Carbonfact provides carbon management software tailored for the apparel and footwear sector. Over 150 brands and suppliers use the platform to effortlessly measure, report, and reduce their emissions, aligning with upcoming regulations like the EU’s Corporate Sustainability Reporting Directive (CSRD). Its mission is to empower brands by revealing the sources of their carbon emissions and guiding them in achieving optimal returns on investment through reduction strategies.
(Image Credit: Carbonfact)
