Carbon assessment startup raises $10 million
SAN FRANCISCO — Planet FWD, a carbon assessment startup, has raised $10 million in Series A funding led by Acre Venture Partners and Congruent Ventures.
Founded in 2019, Planet FWD partners with consumer products companies to measure, reduce and neutralize carbon emissions and has granted carbon neutral certification to brands including Simple Truth, Healthy Hippo, Kiki Milk, and its own climate-friendly cracker line, Moonshot Snacks. Dozens of enterprises, including Kashi, Just Salad, Numi Organic Tea, Toodaloo and Sweet Loren’s are using the platform to advance their climate goals.
The new funding will support accelerated product development and the hiring of additional team members.
“The fact is that we are not currently on track to meet our global 2030 climate targets, but we still have time to get on the right path,” said Julia Collins, founder and chief executive officer of Planet FWD. “As daunting as the challenge may seem, I believe that it is actually a privilege to live during this window of time when we still have an opportunity to stave off the worst effects of the climate crisis. The future of consumer products is climate-friendly, and our customers are leading the way. We are excited to support consumer companies as they achieve carbon transparency and build a path to decarbonization.”
Household goods and services account for 60% of global greenhouse gas emissions, and 82% of millennials and Gen Z consumers believe brands should take more responsibility for tackling climate change, according to Planet FWD, which has raised $16.8 million to date. Additional investors include Emerson Collective, BBG Ventures, Precursor, Concrete Rose, January Ventures, Elemental Excelerator, Cleo Capital and ReThink Food.
“While there’s no one solution to tackling the climate crisis, we stand to make a massive impact if we can rapidly decarbonize the food system and broader consumer goods sector,” shared Sam Kass, partner at Acre Venture Partners. “Julia’s vision is clear, and her team’s passion and talent are already driving change by reducing emissions across food, fashion and beauty brands. We’re proud to help fuel this next phase of growth as Planet FWD powers a climate-friendly consumer movement.”
