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London Tech Week

Danish startup Goodwings closes $1.5M to help travel businesses reduce their emissions

Goodwings funding
Picture credits: Goodwings

As travel exceeds pre-pandemic levels, and businesses scramble to deliver on climate targets, sustainability has become a key issue, presenting a huge investment opportunity.

In an era of heightened environmental awareness and new climate legislation, Goodwings, a climate-focussed sustainable ​​SaaS travel management platform based in Copenhagen comes into the picture. It is a game-changing solution that revolutionises the way businesses measure and reduce their travel footprint now and in the future.

Expansion plans

Now, Goodwings has announced the completion of its late seed investment round of $1.5 million. The round saw participation from Global Cleantech Capital (GCC) known for its investments in Klimato and Tabby, JTB USA, a US subsidiary of JTB Corp and one of the leading global travel agencies, as well as from existing investors.

With this investment, Goodwings gains JTB USA as a world-class strategic partner that can help expand its global footprint and drive significant growth in client acquisition and ARR. It also means that Goodwings can develop product features that cater to the growing market of businesses required to disclose their emissions and reach net-zero goals.

With this latest investment round, Goodwings stands poised to shape the future of travel with a world-class travel management and sustainability solution that will help businesses deliver on their net-zero goals.

“There’s a seismic shift taking place across the travel sector. With sustainability now dominating the corporate agenda, it will be businesses that lead from the front that will reap the benefits.” said Geert de Boo, VP of Global Business Travel at JTB USA. “Our investment into Goodwings allows us to honor our 111 year heritage, while propelling us into the future of responsible travel.”

Paul Kloppenborg, CEO at Global Cleantech Capital explains the uniqueness of the offering: “There is no other solution that’s catering to the surge in post-pandemic travel and the growing demand for businesses to disclose their emissions. Goodwings is strategically positioned at the intersection of this trend and we feel confident they can dominate this space for years to come”.

Christian Møller-Holst, founder and CEO of Goodwings is confident that the partnership with JTB USA will take the business to new heights said, “The investment and strategic partnership with JTB USA presents a huge growth opportunity for Goodwings. The market is primed for solutions like ours and we’re excited to see what the collaboration between our two businesses can deliver.”

Subsidies for decarbonisation of travel

Goodwings is a B Corp certified company founded in 2015 by Christian Møller-Holst and is headquartered in Copenhagen, Denmark. Goodwings has developed a cashback model that subsidises the decarbonisation of travel, and helps reduce the overall footprint of an industry that contributes to 8-11% of total global GHG emissions.

Through its climate-focussed ​​SaaS travel management platform, businesses can book all their travel in one place and get funds transferred into their Carbon Account. This is then used to fully offset clients ‘Scope 3’ travel emissions through the purchase of green aviation fuel and carbon offsets.

The platform addresses two key pain points for businesses: it allows them to book and manage their travel all in one place, and provides a full stack of climate features including emissions calculations, reductions and quality data for ESG reporting.

Already, Goodwings has seen a huge increase in subscriptions over the last 12 months as businesses prepare for new legislation and reevaluate their operations to reduce their climate impact.

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