The way the food and beverage industry is currently structured has a significant impact on the environment. Based on the statistics, it is clear that food and beverage businesses around the world produce and release approximately 17.3 billion tonnes of carbon dioxide every year, accounting for one-third of all greenhouse gas emissions. To solve this climate impact, a lot of startups working to help food industry reduce its carbon footprint and one of them is Sweden-based CarbonCloud.
A startup spun out of leading research on food and climate at Chalmers University of Technology, CarbonCloud has now secured €7.5 million to expand its market position as the leading Climate Intelligence Platform.
The Swedish climate-tech SaaS startup’s recent round was led byGerman VC Cusp Capital and NL-based VC Peak, joined by Rivus Ventures and continued participation from current investors Maki VC and TS Ventures.
CarbonCloud was founded in 2019 by climate researchers and software entrepreneurs to help companies in the food industry calculate and communicate their climate footprints. Numerous brands have already been onboarded, including plant-based milk brands Oatly, Dole Sunshine Company, Naturli Foods, Sproud, and Nude.
Further, their ‘Climate Intelligence Platform’ helps decision makers to trace the climate impact of their food and beverage products at every stage of the supply chain. Through the platform, stakeholders in the food industry can target, track and improve climate performance by automating the manual life cycle assessment.
“Google has built the search graph, Facebook built the social graph, and CarbonCloud has built the food graph” says David Bryngelsson, Ph.D., CEO and founder of CarbonCloud. “We have witnessed the food industry waste valuable resources searching for supply chain emissions data but this network problem can only be solved digitally. The latest investment provides us with strong tailwind when rolling out this much-needed digital solution to the global food industry.”
“One of the core beliefs behind our investment was that industry-specific solutions will ultimately become the winning Climate Intelligence Platform vs. industry-agnostic approaches,” says Jan Sessenhausen, General Partner at Cusp Capital. “We consider CarbonCloud’s data and calculation model to be superior to its competitors and are really happy with the overall development since our initial investment in 2021.”
“Unprecedented pressure from policymakers and consumers sends the food industry into a frenzied search for a solution,” says Stefan Bary, Managing Partner at Peak. “CarbonCloud provides this with unrivalled consistency and detail: It takes mere seconds to establish the climate footprint of a food product while everyone else needs months to get a fraction of the results. The platform delivers value quicker and on a more granular level than any competitor.”