Image: © BillionPhotos.com/Stock.adobe.com
The Sustain.Life platform, co-founded by Irishman Mike Hanrahan, is designed to help SMEs measure, manage and report their carbon emissions and environmental impact.
Sustainability platform Sustain.Life has raised a $16m seed funding round to support its hiring, software development and customer growth.
The funding round was co-led by Tapestry VC and Sustain.Life co-founder Mike Hanrahan – the Irishman who previously co-founded Jet.com and oversaw its sale to Walmart.
There was also participation from Active Impact Investments, Kompas, Agya Ventures and Seyen Capital.
Founded in the US last year, Sustain.Life helps companies manage and report their carbon emissions and environmental impact.
The start-up said its platform helps companies manage emissions by supporting operational changes in areas such as energy, water and waste. Users without expertise are able to measure their impact from areas such as internal operations and supply chains, and can then report their progress to customers, investors and employees.
Sustain.Life said it is targeting the “critical market need” of small and medium-sized enterprises as these companies often lack the resources to implement sustainability programmes.
“To solve climate change, humanity’s greatest threat, we need tools that enable more people and organisations to take meaningful climate action – and we need them quickly,” Hanrahan said.
“Many major corporations have the resources to invest in sustainability initiatives, but most companies lack the resources to launch successful sustainability programmes. That is why we set out to build a platform that would be more accessible from a usability and cost perspective.”
Since its launch last November, the platform has attracted customers across a broad range of industries such as food and beverage, electric vehicles and fintech.
The company has also signed major partnerships with organisations such as US trading platform Interactive Brokers and software company Avetta.
“The carbon accounting and offsets industry is shifting from a marketing exercise and cottage industry to a key bastion in the global fight against climate change,” Tapestry VC managing partner Patrick Murphy said. “The Sustain.Life team has a unique insight on the problems real businesses have adopting climate accounting.
“Sustain.Life has created a unique solution that removes the intermediaries and enables companies of all sizes to put control of their carbon accounting back in their own hands,” Murphy added.
10 things you need to know direct to your inbox every weekday. Sign up for the Daily Brief, Silicon Republic’s digest of essential sci-tech news.
