Carbon Maps raises 4 million
Carbon Mapsthe first climate assessment and management platform for the food industry, has announced a pre-seed round from 4 million euros with the European venture capital companies Breega and Samaipata and now it looks to Italy, as the second largest agri-food market in Europe.
The funds raised will be used to develop new features and enhance the models of its platform, hire around 15 new talents and expand its services to other EU countries.
AI to assess environmental impact
Using mathematical models coupled with artificial intelligence, the Carbon Maps platform performs a rapid and highly accurate assessment of the environmental impact of consumer products, ingredients and raw materials. Carbon Maps collects and analyzes data at all stages of the food chainfrom farmers to consumers, to calculate a variety of impact indicators, such as carbon footprint, biodiversity impact, water use and animal welfare, providing actors at all stages of the supply chain ( producers, cooperatives, brands, distributors) tools to evaluate and monitor the respective climate strategies.
The platform plans to cover all the key indicators necessary to support the ESG strategies of food companies and, in particular, will integrate the Eco-Score, the environmental label of consumer products required by the French law on climate and resilience, which should enter into force by the end of 2023.
Italy is the second largest agricultural market in Europe
“Our ambition is to become the leading environmental accounting platform that brings together all the players in the food value chain, enabling them to assess the climate impact of their products so they can reduce it sustainably,” he explained Patrick AsdaghiCEO of Carbon Maps.
And on Italy he adds: “It is a key market because after France it is the second agricultural market (on a par with Germany) in Europe; it is home to some of the best food brands in the world and has a strong culture of local and sustainable production. We are working to ensure strong partnerships in the food sector in Italy, to equip industrial players with our platform and help them better assess and manage climate impact reduction imperatives, at home and, more importantly, in the countries where they export. We are thrilled to continue our journey with today’s funding announcement.”