Berlin-based forward earth, a leader in AI-powered environmental management solutions, has raised €4.5 million in seed funding, signaling the next phase of growth for the transformative startup. This round, led by Mosaic Ventures, also saw participation from high-profile angel investors and existing investors, including pan-European leading early-stage investor Speedinvest, and European impact VC Revent. The fresh capital will be used to scale operations, expand to the U.S., and prepare for a future market launch in Asia.
Before forward earth’s AI-driven software solution, carbon management was a labor-intensive exercise of continuous data collection and calculation, which is simply not scalable due to increased regulatory pressures around the world.
Due to its seamless integration into existing compliance and supply chain platforms, forward earth’s environmental management software has been rapidly gaining traction by enabling businesses to manage environmental data efficiently with one software platform. In the past three months alone, forward earth has signed several major partners, with several more partners finalizing contracts soon.
Micha Schildmann, CEO and Founder of forward earth, said: “forward earth is experiencing extraordinary global demand, and we’re rapidly scaling our operations. Mosaic Ventures is the ideal partner to bolster our European presence and accelerate our expansion into the U.S., leveraging their extensive network on both sides of the Atlantic. With this additional funding, we’re poised to rapidly decarbonize global supply chains and drive environmental compliance.”
By embedding environmental management into the existing business software of hundreds of thousands of companies, forward earth simplifies the process of data collection, reporting, and regulatory compliance, particularly for businesses facing pressure from new regulations in the EU, U.K., and U.S.
Their flagship product allows companies to remain compliant despite an ever-growing number of strict environmental regulations, reduce their carbon footprint, and meet sustainability goals by providing partners and their customers access to the most modern solutions for Corporate Carbon Footprints, Product Carbon Footprints, CBAM, and additional environmental KPIs.
forward earth’s expansion into the U.S. market is a key milestone for the company. The newly raised funds and partnership with Mosaic will be instrumental in supporting the establishment of a U.S. entity, with operations expected to begin in the coming weeks.
Already poised to capture market share in Europe, with Mosaic Ventures’ backing, forward earth can now turn its attention to the U.S., where businesses are under increasing pressure to report their environmental impact to both regulators and customers.
Chandar Lal from Mosaic Ventures, added: “We’re thrilled to join forward earth on their mission to decarbonize global supply chains. Humans alone cannot solve this problem at the required scale – and Micha, Cari and Giuseppe are the first team to bring a truly AI-first approach to market. With their unique approach and remarkable early momentum, we believe they’re poised to build the new global standard for environmental management.”
forward earth is also planning expansion to Asia in the near future, as businesses in the region seek support to meet new sustainability requirements as environmental regulations tighten due to an increased focus on supply chain activities.
Read the orginal article: https://www.eu-startups.com/2024/10/berlin-based-forward-earth-secures-e4-5-million-to-meet-global-demand-for-environmental-management-software/
