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Plan A raises $3M to help more businesses turn sustainability into competitive advantage

Image credit: ©Lubomila Jordanova
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The B2B carbon reduction software Plan A that is co-founded by the Bulgarian Lubomila Jordanova, just announced that it has raised $3M to improve its carbon accounting and ESG platform, double its team and expand further across Europe and the US. The round is led by the French venture capital firm for ecological transition Demeter and included the participation of the German VC for tech startups Coparion and the Japanese Softbank which invests in startups developing AI and other transformative technologies. 

The investors in the round share that currently there is a high demand for B2B monitoring platforms that provide companies with data-based insights on their sustainability performance and Plan A differentiates from other similar platforms as it offers an all-in-one solution for the calculation, monitoring, and reduction of carbon emissions. Moreover, they highlight that the SaaS model of Plan A allows for easy integration and enables businesses to benefit from ongoing automated emissions data collection. The co-founder and CEO of Plan A, Lubomila Jordanova, also points that unlike other carbon calculating platforms that operate on a one-off basis, Plan A not only measures carbon, provides help with offsetting, and issues certificates for offsetting but also supports businesses in their efforts to reduce their footprint and learn how to implement sustainability processes on a long-term basis.  

“The reason why investors like Demeter, Softbank and Coparion put money in Greentech is influenced by the increasingly improved understanding of climate change and the challenges that come with it – supply chain disturbances, loss of revenue due to unanticipated CAPEX, and more recently, increase regulatory pressure on reporting on ESG,” shares Lubomila Jordanova. 

Where science and ML meet to help the planet

The end-to-end platform of Plan A enables companies to make better environmental decisions by allowing them to measure and reduce their carbon footprint and improve their environmental, social, and governance performance. The startup provides B2B solutions for the analysis of environmental footprint, science-backed recommendations for carbon reduction, ESG monitoring and measurement as well as CO2 offsetting and capture, communication kits for sustainability, and access to a sustainability experts network. By using a data-driven approach and combining science and ML, Plan A compares various environmental, social, and economic indicators with internal company data with the goal to help stakeholders understand what is their CO2 footprint and how to reduce it. 

In addition to a carbon calculator that measures the company’s footprint based on its energy consumption, transport behavior, and office maintenance, Plan A offers a Carbon Manager that tracks the companies’ progress in carbon reduction. The startup has also developed a platform with resources, news, and reports on sustainability to support businesses in gaining more scientific and reliable knowledge in the area. For its 4 years on the market, Plan A has attracted international business clients from the finance, fashion, tech, and construction sectors such as Societe Generale, BMW, and BCG Digital Ventures.

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Elena is an Innovation Reporter at The Recursive, an online media dedicated to the emerging tech and startup ecosystems in Southeast Europe. She is keen on sharing the innovation stories that shape the regional ecosystem and has a great interest in fintech, IoT, and biotech startups. Elena is currently finishing her Bachelor's Degree in Business Administration and Political Science at the American University in Bulgaria.