CarbonCloud secures €7.5m in funding for market expansion

CarbonCloud, a SaaS climate intelligence platform for the food industry, has secured €7.5 million as it eyes further market expansion. 

Cusp Capital and Peak led the funding round, which saw continued participation from investors Maki VC and TS Ventures, as well as the arrival of Rivus Ventures. 

Founded in 2019, CarbonCloud’s platform enables companies to trace the climate impact of their food and beverage products at every stage of the supply chain. It has automated the manual life cycle assessment and empowers various stakeholders throughout every organisation in the food industry to target, track and improve climate performance.

Dole Sunshine Company and Oatly are among the sustainability-minded companies currently on board with CarbonCloud’s platform. 

David Bryngelsson, CEO and founder of CarbonCloud, commented: “Google has built the search graph, Facebook built the social graph, and CarbonCloud has built the food graph”.

He added: “We have witnessed the food industry waste valuable resources searching for supply chain emissions data, but this network problem can only be solved digitally. The latest investment provides us with a strong tailwind when rolling out this much-needed digital solution to the global food industry.”

CarbonCloud automatically maps out a digital twin of the food supply chain for each individual product in a portfolio, enabling companies to respond confidently to consumer demand.

Jan Sessenhausen, general partner at Cusp Capital, said: “One of the core beliefs behind our investment was that industry-specific solutions will ultimately become the winning climate intelligence platform versus industry-agnostic approaches”.

He continued: “We consider CarbonCloud’s data and calculation model to be superior to its competitors and are really happy with the overall development since our initial investment in 2021”.