A green logistics-focused startup has successfully raised €8 million (USD$8.7 million) in a Series A funding round, aimed at supporting its growth and expanding the capabilities of its transport emissions management platform.
Founded in 2018 by two industry experts, the Hamburg-based company helps shippers, logistics service providers, and carriers manage and reduce transport emissions, advancing efforts to decarbonize supply chains. The core product enables the calculation and monitoring of logistics emissions across all transport modes, featuring managed data collection, automated emissions data calculation, emissions reporting, and benchmarking analytics.
“We experience a high level of interest in our product as shippers and logistics service providers seek reliable emissions data to remain competitive. There is a growing belief that our specialized solutions will become the standard,” said a representative from the company.
The new capital will be used for accelerated international expansion and to introduce new emissions management features, including a Book & Claim solution. This innovative feature allows companies to claim the sustainability attributes of products used in transport, such as sustainable fuels, without directly using the sustainable products, but by paying a premium for their use elsewhere.
“So far, the use of sustainable fuels has been limited by location and availability. However, with Book & Claim, freight forwarders can bundle customer demand and finance the targeted use of biofuels or alternatives,” added the representative.
The funding round was led by a European sustainable venture capital firm, with participation from several other investors.
“The industry is quickly shifting towards using direct emissions data from trucks, vessels, and aircraft involved in the supply chain. This company stands out as a leading provider in managing emissions for the logistics sector, leveraging accurate primary data to move the sector forward,” said a senior partner from the lead investment firm.
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