Fitsol’s AI-powered platform is helping companies track and reduce carbon footprint
Summary
Fitsol, a SaaS platform founded in 2022, is helping logistics companies measure, manage, and reduce their carbon footprint, especially Scope 3 emissions. The co-founders have previously worked in prominent roles at companies like TVS Supply Chain Solutions, Mahindra Logistics, Tata 1MG, PwC India, and Hindware Home Innovation Limited.Pathak, inspired by his experience in emission-reduction projects at TVS Supply Chain Solutions and Samvardhana Motherson Group, recognised the lack of tech solutions in India to address Scope 3 emissions, which made him to start Fitsol.Most manufacturing companies generate over 90% of their emissions under Scope 3, with figures as high as 97% for Tesla and 98-99% for Apple. This is when I saw the gap in the market and resigned from my job to work on Fitsol, says Pathak.The 35-member team provides various services, including sustainable logistics solutions, green transportation using lower-emission vehicles, energy-efficient warehousing, and sustainable packaging options.Most customers are eager to reduce their carbon footprintthey recognise the importance of addressing this issue. This includes manufacturing firms working with startups, product, or service providers to implement solutions that reduce emissions.We want to be the single point of contact for our customers, rather than just being their accounting and reporting partner. Over 90% of our revenue comes from the marketplace model, while Carbon SaaS contributes a single-digit percentage, Pathak reveals.The allied service or marketplace revenue model consists of multi-year contracts ranging from 2 to 5 years with customised pricing, with an average contract size of Rs 5 crore.Some of Fitsols notable clients include SKH Housing, Maruti Suzuki, Toyota Tshusho, and Penguin Random House.