Home Finance Envirly obtains €1.4 million to help companies analyze their environmental impact

Envirly obtains €1.4 million to help companies analyze their environmental impact

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You only have a minute? Here are 3 key takeaways from the article:

Polish start-up Envirly raised Funding round of €1.4 million from investors including Banque BNP Paribas, the Tangent Line Ventures investment fund, Aligo VC and 4 Business Angels.

• Their B2B SaaS sustainability platform allows companies to easily manage their sustainability efforts, including carbon footprint reporting, product carbon footprint analytics, and ESG reporting.

• The startup will use the funds to further develop its platform and expand its team.

Through the platform, entrepreneurs can continuously monitor and analyze the environmental impact of their business, create non-financial reports and take decarbonization measures aimed at green transformation.

Founded in 2020, Envirly has now secured one of the largest seed investments in CEE for ESG compliance products, My Company Polska. reports.

“Our goal is to support organizations in their green transformation, bringing both economic and ecological benefits,” Envirly CEO Mateusz Masiak, who has a background in mathematics and entrepreneurship, said in a statement.

As Masiak explained in a previous interview, Envirly’s main goal is to help companies improve their ESG performance, emphasizing that companies can and should play a crucial role in solving some of the world’s most pressing challenges, such as climate change. , social impact and equitable governance.

“Through our innovative solutions, we have enabled organizations to not only understand their ESG impact, but also actively improve it. We have seen companies reduce their environmental footprint, foster more inclusive workplaces, and improve their governance structures, all thanks to our collaborative efforts,” Masiak said in the interview.

According to BNP Paribas, one of the investors in the round, reducing the carbon footprint has now become a necessity for companies around the world.

“Regulatory activities undertaken over the years aimed at reducing CO2 emissions make this an increasingly common obligation for businesses. This results in the competitiveness of companies, their further development, facilitates obtaining financing and affects the image of companies,” said Jarosław Rot, Executive Director of the Sustainable Development Area of ​​BNP Paribas Bank Polska.

For Monika Borowiecka of Tangent Line Ventures, Envirly has huge potential to expand both regionally and globally.

“Our investment is not just financial support, it is a strategic move that will allow Envirly to aggressively expand its operations and capture new markets. We are confident that our involvement will accelerate Envirly’s growth, strengthening its position as a leader in the ESG sector. Borowiecka added.

Corporate decarbonization has been the focus of European climate technology funds active in the region, most recently with Berlin-based Plan A (which has a Bulgarian co-founder). announcing a $27 million fund to expand their efforts to help the business sector decarbonize.

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