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Altruistiq raises £15m in seed round led by Molten and Norrsken

Altruistiq, a specialist in carbon reporting software, has raised $15 million in a seed funding round, one of the largest for a software firm in Europe, makes Altruistiq one of top 10 best-funded climate software companies globally.

The funding will help the firm champion its abatement engine, which brings unparalleled accuracy in granular data reporting and business intelligent impact management.
 
Targeting other large often complex businesses in the retail, food, FMCG, logistics and fashion industries – backers to help drive the growth include venture capital firms, Molten and Norrsken alongside angel investors, Greg Jackson, Mudassir Sheikha and Siraj Khaliq, Sir Ian Cheshire and Nicolaj Reffstrup from GANNI.
 
In a process that goes deeper than simply a commitment to carbon offsets through the identification of CO2 emissions and reduction initiatives throughout their customer’s value chain, Altruistiq’s solution is having a huge impact on the way its clients do business.
 
Using data generated by Altruistiq, leading UK recipe box provider, Gousto, is tackling decarbonisation on two fronts: suppliers’ farming methods and the mix of recipes and ingredients it sells. It’s surveying its suppliers to get a better understanding of their carbon footprint and is looking to see how it can use Altruistiq to help its suppliers make their practices more sustainable, which would improve Gousto’s footprint in turn.

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