French start-up Greenbids raises €1.6 million to clean up digital advertising, and partners with Scope3

French sustainable adtech start-up Greenbids is cleaning up the digital advertising space. A Scope3 report found that digital advertising generates more than 2.6 million metric tons of carbon per year, across five leading economies. It might be a somewhat surprising figure to some, so Greenbids is making its business to spread the word and provide a better solution.

The platform uses machine learning to decipher the most effective media advertising at the lowest carbon footprint so companies can run cleaner campaigns on DV360 and Xandr platforms, without compromising on quality. 

The French start-up has raised €1.6 million in funding which will see the firm grow in the UK and expand its offering to the US. The round was led by Elaia and Famille C Participations. 

"We have been convinced by the Greenbids team, gathering both the tech expertise with PhDs having developed the proprietary AI, and the business knowledge of the market of digital advertising, having experienced the pain points of the ad tech supply chain. Their solution comes from a climate concern, and they transformed it into an opportunity to redefine a more efficient digital advertising industry and make a meaningful impact on the environment," says Anne-Sophie Carrese, Partner at Elaia. 

In more good news from the Greenbids camp, it has also announced a partnership with Scope3, a firm rooted in the decarbonisation of the ad industry. The new partnership allow Greenbids to ‘enhance its algorithms with even more accurate advertising carbon data, enabling global corporations to take decisive action in reducing their digital advertising carbon footprint’.

"We are thrilled to have the support of Elaia and Famille C Ventures as we work towards revolutionising the digital advertising landscape. Our partnership with Scope3 enables us to provide businesses with a solution that balances their need for effective advertising with their responsibility to reduce carbon emissions. Together, we are building a more sustainable future for our industry,” says Greenbids' co-founder and CEO, Guillaume Grimbert.