forward earth, an AI-powered environmental management software, has raised €4.5 million (~ $4.9 million) in a seed funding round led by Mosaic Ventures, with the participation of Speedinvest, and Revent.
The company aims to enter the US market. The recent funding and partnership with Mosaic will be key in setting up a US branch. The company also plans to expand into Asia soon.
Micha Schildmann, CEO and co-founder of forward earth, explained that many mid-sized companies in the supply chain need to create data to meet the demands of large clients, buyers, and regulators. forward earth’s goal is to build software that helps these companies do this, while also giving big companies the data they need to understand their supply chain and sustainability.
Schildmann also mentioned that many companies worry about losing contracts if they can’t provide this data. However, since they don’t have the budget to hire a full-time employee for carbon accounting, forward earth’s AI-powered solution makes the process easy and affordable for them.
Chandar Lal from Mosaic Ventures, said: “We’re thrilled to join forward earth on their mission to decarbonise global supply chains. Humans alone cannot solve this problem at the required scale – and Micha, Cari and Giuseppe are the first team to bring a truly AI-first approach to market. With their unique approach and remarkable early momentum, we believe they’re poised to build the new global standard for environmental management.”
(Image Source: forward earth)
About forward earth:
forward earth is a next-generation carbon management software that uses AI to deliver highly automated and compliant carbon management solutions. The platform is the first to embed its integrated white-label software into existing compliance and supply chain management systems. forward earth can calculate carbon emissions at both the company and product levels, while also providing transparency into complex supply chain activities.
(Source: Tech.eu)
