Planetly nabs €5.2 million to help companies become climate neutral

Berlin-based startup Planetly, which develops digital tools that help companies analyze, reduce and offset their CO2 emissions, has received an investment of €5.2 million, as part of its seed financing round. Founded at the beginning of this year by serial entrepreneurs Anna Alex and Benedikt Franke, the fresh funds are a positive sign for where they are headed.

Across the world, consumers and employees, as well as investors and regulators, are increasing pressure on companies to become climate neutral. However, companies face a lot of challenges to do so. For example, the calculation of a company’s CO2 footprint alone is a very complex and cost-intensive process. In addition, there is usually no climate strategy in place to implement the necessary measures for CO2 reduction. This is exactly where Planetly’s software comes in.

Benedikt Franke, co-founder and CEO, explained how Planetly can help: “CO2 emissions are becoming a cost and competitive factor for companies. Data and technology can provide companies with the necessary transparency and help to translate the knowledge gained into actionable measures for CO2 reduction, thus helping companies to successfully compete in a Planet-Positive Economy”.

Based on data, the Berlin-based climatetech startup analyses a company’s carbon emissions and offers each department specific information about its own CO2 footprint. This in turn facilitates the definition of KPIs within the company. “The climate crisis is the central issue of our time and it all starts with transparency. When CO2 emissions from companies receive a prize, they become an important corporate KPI,” adds Anna Alex, co-founder and CCO, who has a strong background having already built up startup Outfittery.

The startup’s recent financing round was led by the early stage venture capital fund SpeedInvest. Mesosphere founder Florian Leibert, Cavalry Ventures and well-known business angels also participated. The capital raised will be used primarily to expand the team and for software development.