forward earth raises €3.2M for environmental data management
Summary
In addition to the 2M pre-seed funding from private investors, forward earth has also raised 1.2M in funding from the European Union (EFRE) in recognition of the importance of the companys technology in addressing environmental challenges within global supply chains and thus helping businesses to meet newest EU standards.Hundreds of thousands of companies must now report their environmental data to business partners and regulators due to increased commercial pressure and stricter regulations, especially in the EU, UK, and the US. Environmental data is becoming a crucial element of compliance and supply chain management, and a holistic view across all aspects is critical for companies. forward earths ML-powered environmental management tool integrates into existing software providers to help businesses generate all necessary environmental data inside of their existing business software for compliance, risk, or supply chain management.The resulting reports cover all relevant regulatory requirements for customers, including the EUs newly established Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CSDDD), and Cross Border Adjustment Mechanism (CBAM), as well as upcoming US regulation recently approved by the U.S. Securities and Exchange Commission (SEC).Decarbonization has become a crucial regulatory requirement for businesses globally, yet the vast majority of companies still do not have clear visibility into their environmental impact, especially deeper down the supply chain. commented Dr. Micha Schildmann, founder and CEO of forward earth.Micha and the rest of the team bring an absolutely unique wealth of experience from our former portfolio company, Planetly, to tackle a still unsolved problem. forward earths product will unlock detailed carbon and environmental data for anyone offering ESG, GRC, or supply chain intelligence globally, said Speedinvest Partner, Fred Hagenauer.