CarbonCloud, a Swedish startup that helps brands calculate their carbon footprints, has raised a €1 million seed round led by Helsinki-based Maki.vc and German firm TS Ventures. The fresh funding will help the company expand, onboard new customers, and hire talent across sales, marketing and product development.
The Gothenburg-based startup helps companies within the food industry to calculate and communicate the climate footprints of their products at scale. The platform is used in-house by brands such Oatly, Naturli Foods, Sproud and Nude.
The hope is that transparent climate labels will help end consumers consume more wisely, more conscious of the environmental impact. Tim Schumacher of TS Ventures says it’s high time for “the bookkeeping of carbon footprints.”
Founded in 2016 as a spinout from food and climate research at Chalmers University of Technology, the company’s model has been used by the Swedish Environmental Protection Agency and institutions abroad, including Princeton University and Potsdam Institute for Climate Impact Research.
Photo: CarbonCloud CEO David Bryngelsson