Only have 1 minute? Here are 3 key takeaways from the piece:
• Polish startup Envirly raised €1.4M seed round from investors including Bank BNP Paribas, 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 reports, product carbon footprint analyses, and ESG reports.
• The startup will use the funds to further develop its platform and expand its team.
With the platform, entrepreneurs can continuously track and analyze their company’s environmental impact, create non-financial reports, and take decarbonization measures aimed at the 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 green transformation, bringing both economic and ecological benefits. We’re really excited moving forward as the new funding and amazing business partners will help us facilitate further company and product growth, contributing to our mission of supporting organisations on their paths to sustainability.” Envirly’s CEO Mateusz Masiak, who has a background in mathematics and entrepreneurship, told The Recursive.
As Masiak explained in a previous interview, Envirly’s primary goal is to support companies in improving their ESG performance, with an emphasis on the fact that businesses can and should play a crucial role in addressing some of the world’s most pressing challenges, such as climate change, social impact, and fair governance.
“Through our innovative solutions, we’ve empowered organizations to not only understand their ESG impact, but to improve it actively. We’ve seen companies reduce their environmental footprint, foster more inclusive workplaces, and enhance their governance structures, all resulting from our collaborative efforts,” Masiak said in the interview.
According to BNP Paribas, one of the investors in the round, reducing carbon footprint has now become a necessity for businesses worldwide.
“Regulatory activities undertaken over the years aimed at reducing CO2 emissions make it an increasingly common obligation for companies. It translates into business competitiveness, further development, facilitates obtaining financing, and affects the image of enterprises,” said Jarosław Rot, executive director of the Sustainable Development Area at BNP Paribas Bank Polska.
For Monika Borowiecka from Tangent Line Ventures, Envirly has enormous potential to scale both regionally and globally.
“Our investment is not only financial support, it is a strategic move that will allow Envirly to aggressively expand its operations and conquer new markets. We are confident that our involvement will accelerate Envirly’s growth, strengthening their position as a leader in the ESG industry.” Borowiecka added.
Business decarbonization has been in the focus of European climate tech funds that are active in the region, with Berlin-based Plan A (which has a Bulgarian co-founder) recently announcing a $27M fund to increase their efforts in helping the corporate sector decarbonize.
