Carbonfact’s platform automates the data collection and reporting process associated with the carbon footprint of fashion brands retailers and suppliers.
The announcement, which comes hot on the heels of the EU passing the Corporate Sustainability Due Diligence Directive (CSDDD) and ahead of the launch of the New York Fashion Act, the SEC Climate Disclosure Rule and the EU’s Corporate Sustainability Reporting Directive (CSRD), Carbonfact recognises that to fulfil the new reporting requirements, data has to be manually verified and consolidated across the supply chain and business, which is error-prone and unscalable.
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Carbonfact also addresses the industry’s challenge of collecting accurate and primary data from multiple tiers of the supply chain.
In the 18 months since its seed round, Y Combinator-backed Carbonfact has onboarded 150+ apparel and footwear brands including Columbia, New Balance, Carhartt and Adore Me, which announced its partnership with Carbonfact last year. The company saw a surge in demand in Q1 this year, which speaks to the increased regulatory pressure on the textile sector to measure and disclose emissions.
The Series A is led by existing investor Alven. Headline is joining as a new investor and also joins the board. Existing investor Y Combinator also participated.
Marc Laurent, CEO and co-founder says: After meeting with hundreds of textile brands and suppliers we realised that collecting data and reporting on all product and supply-chain information is a complex task that requires more comprehensive data management than spreadsheets allow. We believe that fashion brands should be able to measure and report on climate progress with limited manual work.”
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By GlobalDataCarbonfact’s priorities over the next 12 months will focus on helping textile retailers and manufacturers measure and build plans to reduce their emissions in line with upcoming regulations and expanding global onboarding teams.
Carbonfact recently launched a new suite of modelling tools that enable fashion brands to understand how changes in product design or supplier selection can affect carbon footprints before products are made. This allows them to focus on reducing emissions instead of offsetting them.
Allbirds director of sustainability Aileen Lerch said: “Carbonfact’s product-level focus ensures we can both measure our carbon footprint and actively find ways to reduce it. Carbonfact has been instrumental in helping us model different scenarios and make informed decisions that align with our sustainability goals.”
Partner at lead investor Alven, Bartosz Jakubowski added: “We strongly believe the future is about vertical and product-centric Carbon Management Platforms, and we were impressed by the leadership position that Carbonfact has been able to take on the fashion industry”.
Headline general partner Jonathan Userovici noted: “The fashion industry is worth $1.9bn globally. It also emits some of the highest amounts of emissions for each dollar spent. Carbonfact is the only platform that offers a product deep enough to satisfy today’s increasingly complex supply chains. Carbonfact’s customers were the first ones to tell us about the incredible value the platform provides. Some of them were even able to access more attractive lending rates and sustainability incentives by being able to show real sustainability efforts.”
