HomeFundingAmsterdam-based Coolset raises €1.5 million to launch its decarbonization platform

Amsterdam-based Coolset raises €1.5 million to launch its decarbonization platform

Dutch startup Coolset is setting off on a mission to help SMEs reduce their carbon footprint. The GreenTech startup has just secured €1.5 million to launch its automated decarbonization platform. 

By 2024, more than 50k businesses across Europe will be required to report on their sustainability strategy and carbon footprint. Doing so requires a lot of data oversight and in-depth carbon reporting. In order to do this, there are a number of solutions on the market, however, they’ve mainly been designed to cater to enterprise clients and aren’t so accessible to SMEs – which make up 80% of global businesses.

Coolset, formerly known as Greencast.io, has developed a new platform that caters exclusively to this group. The startup, founded in 2021, has just secured €1.5 million to launch the tool. The round was led by Global Cleantech Capital and joined by Shamrock Ventures, Horizon, The Sharing Group and various angels.

Konstantinos Kouzelis, co-founder and CEO of Coolset: “We are thrilled to launch our new automated decarbonization platform and to have secured funding to help us expand our team and accelerate our growth. We believe that businesses will need to deploy digital solutions to advise them on their optimal net-zero pathways, and our platform provides a simple and effective way for SMEs to do this.”

Based in Amsterdam, Coolset’s platform enables SMEs to measure, analyze, reduce, and remove their carbon footprint in just a few weeks, making it an accessible and actionable alternative to hiring expensive consultants or using Excel-based tools.

It’ll mean small business owners and startups can meet increasingly strict reporting regulations, specifically the EU Corporate Sustainability Reporting Directive (CSRD) which will come into place next year.

Paul Kloppenborg, managing partner at Global Cleantech Capital: “The cost-efficient solution is truly unique, and Coolset enables SMEs – which typically are not served by big consultants selling hours – to accelerate their journey towards net zero emissions. Coolset has the potential to revolutionize the way these companies approach decarbonization, effectively future-proofing the economy of the future. We have been impressed with Coolset’s rapid growth and are thrilled to be a part of their journey.”

Currently, the startup works with customers such as Lepaya, HelloPrint, and MyWheels. With this new funding, Coolset will be able to further develop the platform’s features that allow users to plan scenarios, create benchmarks and generate actionable decarbonization strategies across scope 1, 2, and 3.

Tommy Hurley, managing partner at Shamrock Ventures: “We were impressed by Coolset’s vision and their ability to translate it into a tangible solution that can benefit thousands of businesses. Their platform offers a unique combination of automation, analytics, and user-friendliness, making it a compelling option for SMEs looking to reduce their carbon footprint. We are excited to continue to support Coolset in their growth and impact.”

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Patricia Allen
Patricia Allen
is the Head of Content at EU-Startups. With a background in politics, Patricia has a real passion for how shared ideas across communities and cultures can bring new initiatives and innovations for the future. She spends her time bringing you the latest news and updates of startups across Europe, and curating our social media.

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