Altruistiq, a software as a service (SaaS) startup using data to improve carbon reporting, has raised £15 million in one of Britain’s largest tech seed funding rounds.
The company’s mission is to create the means for nearly any company to achieve and improve their sustainability. Their solution? Data-driven carbon-analytics to drive decision making and identify CO2 reduction solutions. They anticipate their solution could work across the food, retail, FMCG, logistics, and fashion industries.
Altruistiq has already seen results with Gousto, a recipe box provider who utilized the platform, received the data, and targeted the ingredient level of their supply chain as the first step for decarbonisation.
The company practices what they preach, using their own technology to ensure they are constantly improving their own sustainability. At the time this article was written, their website boasts carbon emissions of 0.58g of CO2 per view – an achievement which is cleaner than 43% of pages tested.
“We’ve seen a big shift towards businesses embracing the ‘carbon accounting’ space,” said Saif Hameed, CEO and founder of Altruistiq. “Whilst this is a helpful tailwind, inaccurate data sets and a resulting lack of granular calculation leads to generic emission factors that can leave organisations open to charges of greenwashing.”
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