Carbonfact, a Paris, France-based provider of a software platform for the fashion industry to automate environmental reporting, raised $15M in Series A funding.
The round was led by Alven, joined by Headline (Fetch, Segment, Mistral AI), with participation from Y Combinator.
The company intends to use the funds to expand operations and development efforts.
Led by CEO Marc Laurent, Carbonfact is a provider of carbon management software built for the apparel and footwear industry to measure, report, and reduce their emissions without manual effort. The software connects to the company’s IT systems and cleans and analyzes the data to then identify gaps and anomalies. Carbonfact employs machine learning to systematically fill in any missing details and provide footprint calculations, even when data is incomplete. On the live platform, brands can identify emission-intensive manufacturing processes, build reduction plans and export automatically created reports for annual carbon disclosure, aligning with multiple frameworks, and ensuring compliance with new laws and standards.
Backers included over 150 brands such as Columbia, New Balance, and Carhartt.
FinSMEs
01/05/2024