CarbonCloud Company Profile

Background

Overview

CarbonCloud, founded in 2016 and headquartered in Gothenburg, Sweden, is a research-based food-tech startup specializing in climate intelligence solutions for the food industry. The company offers a Software as a Service (SaaS) platform that enables food producers to calculate, analyze, and communicate the climate footprints of their products and production processes. By automating data gathering and calculation, CarbonCloud aims to make climate labeling feasible on a global scale, thereby facilitating more sustainable choices within the food sector.

Mission and Vision

CarbonCloud's mission is to empower the food industry to achieve net-zero carbon emissions by providing accurate, science-based tools for measuring and managing climate impact. The company's vision is to create a transparent and sustainable food system where climate performance is a key factor in decision-making processes.

Key Strategic Focus

Core Objectives

Automated Climate Footprint Calculation: Provide a platform that automates the life cycle assessment of food products, reducing the time and cost associated with traditional consultancy-based assessments.

Supply Chain Transparency: Enable businesses to map out their supply chains and identify emission hotspots, facilitating targeted reduction strategies.

Stakeholder Engagement: Foster collaboration across the food value chain by offering tools for suppliers and partners to share and compare climate performance data.

Areas of Specialization

Food Industry Focus: Tailored solutions designed specifically for the complexities and nuances of the food sector.

Scope 3 Emissions Management: Address the challenges of measuring and managing indirect emissions within the supply chain.

Key Technologies Utilized

Artificial Intelligence (AI): Employ AI to automate data mapping and enhance the accuracy of emissions calculations.

Digital Twin Technology: Create digital representations of supply chains to simulate and predict the impact of various decisions on carbon footprints.

Primary Markets Targeted

Food Producers and Manufacturers: Companies seeking to assess and improve the climate impact of their product portfolios.

Retailers: Businesses aiming to offer climate-transparent products to consumers.

Food Service Providers: Organizations looking to measure and reduce the carbon footprint of their offerings.

Financials and Funding

Funding History

Total Funds Raised: Approximately $13.9 million.

Recent Funding Rounds:

February 2023: Raised €7.5 million ($8.2 million) in a Series A funding round led by Cusp Capital and Peak, with participation from Rivus Ventures, Maki VC, and TS Ventures.

Notable Investors

Cusp Capital

Peak

Rivus Ventures

Maki VC

TS Ventures

Utilization of Capital

The funds raised are intended to strengthen CarbonCloud's position in the climate intelligence space and support market expansion efforts.

Technological Platform and Innovation

Proprietary Technologies

CarbonCloud Platform: A SaaS solution that automates the calculation and reporting of carbon footprints for food companies, utilizing a database of over 50,000 products and ingredients.

Significant Scientific Methods

AI-Driven Data Mapping: Employs artificial intelligence to match product portfolios to the carbon footprint database, facilitating rapid aggregation of Scope 3 emissions.

Digital Twin Modeling: Creates digital representations of supply chains to simulate and predict the impact of various decisions on carbon footprints.

Leadership Team

David Bryngelsson: Co-Founder and Chief Executive Officer. Prior to founding CarbonCloud, he spent eight years as a researcher on climate change mitigation at Chalmers University of Technology.

Fredrik Hedenus: Co-Founder, Advisor, and Chief Scientific Officer. He brings extensive expertise in climate science to the company.

Mikael Tönnberg: Co-Founder and Chief Technology Officer. Before CarbonCloud, he co-founded Mezmerize-e, a company developing services for e-commerce.

Jenny Rexed: Vice President of Finance. She oversees the financial operations and strategic financial planning of the company.

Competitor Profile

Market Insights and Dynamics

The carbon management software market is experiencing significant growth, driven by increasing regulatory requirements and consumer demand for sustainable products. Companies are seeking solutions to accurately measure, report, and reduce their carbon footprints, particularly within complex supply chains.

Competitor Analysis

Workiva: Offers a cloud-based productivity platform for enterprises to collect, link, report, and analyze business data with control and accountability.

VelocityEHS Accelerate | EHS & ESG: Provides solutions for environmental, health, safety, and ESG management, helping organizations streamline compliance and risk management.

osapiens: Offers a multi-tenant HUB technology platform with solutions for supply chain management, integrating data processing and analysis for environmental compliance.

IBM Environmental Intelligence Suite: An AI-powered SaaS solution that helps businesses plan for and respond to critical weather and environmental conditions while understanding and controlling their impact on the planet.

Intelex EHSQ: Provides web-based management systems to optimize business performance, enable regulatory compliance, and streamline ISO initiatives through environmental, health & safety, quality management, and supplier management features.

These competitors offer various solutions for carbon accounting and environmental management, each with unique features and industry focuses.

Strategic Collaborations and Partnerships

Notable Partnerships

Dole Sunshine Company: In November 2022, CarbonCloud partnered with Dole to automate lifecycle assessments for measuring greenhouse gas emissions in food products using machine learning.

Bidfood: In 2024, CarbonCloud collaborated with Bidfood, a leading UK foodservice provider, to calculate its climate footprint across the value chain, aiming to achieve net-zero carbon emissions by 2045.

Oatly: The plant-based milk brand utilized CarbonCloud's platform to calculate and communicate the climate footprint of its products, enhancing transparency and consumer trust.

Operational Insights

Strategic Considerations

CarbonCloud differentiates itself by offering a specialized platform tailored to the food industry's unique challenges in carbon footprint calculation and management. The company's focus on automation, accuracy, and supply chain transparency provides a competitive advantage in a market where many solutions are more generalized.

Market Position

By securing partnerships with prominent food brands and service providers, CarbonCloud has established itself as a key player in the climate intelligence space for the food industry. The company's ability to provide rapid, accurate, and scalable solutions positions it favorably against competitors.

Strategic Opportunities and Future Directions

Expansion Plans

With recent funding, CarbonCloud aims to expand its market presence and enhance its platform's capabilities. This includes further development of AI-driven features and expanding the database to cover a broader range of products and ingredients.

Industry Trends

As regulatory pressures and consumer demand for sustainability continue to rise, CarbonCloud is well-positioned to capitalize on the growing need for transparent and accurate carbon footprint assessments within the food industry.

Innovation Focus

The company plans to invest in advanced technologies, such as machine learning and digital twin modeling, to provide more predictive and prescriptive insights for clients, enabling proactive climate impact management.