Oslo-based Fortifai has raised €502K in a funding round led by RunwayFBU, Startuplab, and Impact Shakers Ventures. The funding will support the company’s efforts to advance its platform for automating ESG (Environmental, Social, and Governance) regulatory compliance. Unlike traditional tools that focus on annual reporting, Fortifai aims to offer continuous ESG management, providing real-time insights for companies. The investment will be used to enhance product development, support existing pilot programs, and integrate AI into the platform. Fortifai’s approach aims to simplify complex ESG requirements and improve efficiency in compliance processes.
Fortifai, based in Oslo, is a startup focused on automating ESG (Environmental, Social, and Governance) regulatory compliance. Founded by Abbey Lin, who has extensive experience in global sustainability from previous roles at Microsoft, KPMG, and Yara International, Fortifai offers a platform designed to go beyond traditional annual reporting tools.
Instead of a once-a-year checklist, Fortifai provides a continuous, real-time management solution for ESG compliance, allowing companies to monitor and manage their sustainability efforts on an ongoing basis. The company aims to make ESG compliance more efficient and integrated into daily operations, leveraging advanced technologies like AI to enhance its platform’s capabilities. Fortifai is already collaborating with major corporations and is positioning itself to transform how businesses approach and manage ESG regulations.
Sagar Chandna, Senior Partner at RunwayFBU, says, “Fortifai’s unique approach to ESG compliance is exactly what the market needs right now. Their ability to simplify and automate complex regulatory requirements while delivering substantial cost and time savings is unparalleled. We are excited to support Fortifai in their mission to make ESG compliance accessible and efficient for companies of all sizes.”
Gisle Østereng, Head of Investments at Startuplab, states, “We are very proud supporters of team Fortifai which undoubtedly has a lot of domain knowledge, customer traction, and high ambitions. Startuplab is looking forward to supporting the team in the years to come, and we believe Fortifai will be a very impactful company.”
Yonca Braeckman, CEO at Impact Shakers, says, “As a European impact investor, we are super excited about the potential of Fortifai to empower companies around the world to become ESG changemakers. We believe this innovation is a crucial step towards building a sustainable future where every business can effectively contribute to societal, environmental, and governance goals.”
Abbey Lin brings 20 years background in creating and driving global sustainability and compliance, including roles at Microsoft, KPMG, and Yara International. She has implemented sustainability and compliance programs in two global stock listed companies from the ground up. Originally from Silicon Valley, she has been living in Norway for over 15 years. She also co-founded Oslo.AI in 2019 and is the co-host with En Abdulahu for the popular global podcast “ESG in Practice”
“We’re delighted to have such strong and diverse international backing. We see an opportunity to disrupt the market and our goal is to simplify and accelerate ESG implementation in companies of all sizes, allowing management and boards daily insights into their ESG activities. This turns sustainability and compliance into strategic drivers rather than just an annual reporting routine.” says Abbey Lin. With the new funding, our team aims to accelerate our product development, further support our existing pilot customers, and onboard new customers that lack full-time in-house sustainability resources, ensuring they achieve efficient ESG compliance. We also are integrating AI into our platform to make our ESG compliance capabilities even more impactful.”
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Read the orginal article: https://arcticstartup.com/fortifai-raises-e502k/
