S4S Ventures And Nordic Eye Back Provenance With $5M Investment | Provenance

▤ Summary

Sanja Partalo, Co-Founder and Managing Partner of S4S Ventures, joins Provenance board as part of the investment.Provenance is a data platform that validates and amplifies sustainability claims for over 230 Consumer Packaged Goods (CPG) brands and retailers such as Unilever, Estee Lauder, THG, Princes and Arla, across 18 markets globally.Through its data platform, framework and publishing capabilities, Provenance enables businesses to be transparent about sustainability and inform consumers about their social and environmental impact in a way thats accurate, unambiguous and substantiated at the point of sale.The funding comes as there is growing pressure on businesses to authenticate and communicate their social and environmental impact transparently, with a raft of new regulations aimed at addressing misleading green marketing claims.Regulations put brands and retailers at risk of fines of up to 4% of global turnover if published claims fall short of criteria. With the support of S4S and Nordic Eye, were excited to accelerate towards our goal of empowering one billion citizens to choose products that match their values.Sir Martin Sorrell, Co-Founder of S4S Ventures, said: Sustainability isnt just a good principle, its essential. "Christian Tarp, Senior Partner at Nordic Eye Venture & Growth Capital, commented: Provenance is solving a huge unmet need as more and more data from carbon to packaging to diversity is trapped within silos, incomprehensible and left to rot within internal B2B systems. 230+ leading CPG businesses are using Provenance to communicate their sustainability credentials, from global enterprises such as Unilever, Estee Lauder, Princes and Arla - to fast-growing brands and retailers such as Cult Beauty (THG), Amika, BELU, LOccitane, The Outset, The NueCo, Weleda and more. The firm invests in Northern Europe, UK and US based early-growth companies with unique value creation potential due to tailwinds, primarily from two global macro trends - digital transformation and modern lifestyle.

$ Funding

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Provenance

$1M to $5M