Faradai Company Profile

Background

Overview

Faradai is a London-based technology company specializing in net-zero intelligence solutions. Established in 2017, the company offers enterprise software designed to measure, analyze, and report energy consumption and carbon emissions, assisting organizations in their journey toward sustainability. Faradai's platform is utilized by numerous global corporations, including Shell, IKEA, PepsiCo, Vodafone, Marks & Spencer, MediaMarkt, BBVA, BNP Paribas, QNB, Sephora, GAP, Bank Audi, Delivery Hero, SOCAR, and DHL. These companies leverage Faradai to effectively collect, store, analyze, and report their carbon emission and energy data, aiding in cost savings, regulatory compliance, and achieving net-zero objectives.

Mission and Vision

Faradai's mission is to enable enterprises to navigate their net-zero journeys through digital products and services. The company envisions becoming the most impactful Net 2050 goal-compliant, next-generation company in the B2B industry of the CEE & EMEA region within the next five years. Faradai is committed to delivering innovative solutions that lead the way in sustainability and environmental stewardship, fostering a brighter and more sustainable future for all.

Key Strategic Focus

Core Objectives

Faradai focuses on providing AI-powered, IoT-enabled solutions that assist organizations in monitoring, reducing, and managing their energy consumption and carbon emissions. The company's platform offers real-time insights and audit-ready reports, enabling organizations to effectively track and reduce their greenhouse gas emissions.

Areas of Specialization

Faradai specializes in digital energy management and sustainability intelligence, offering tools that help enterprises gather and obtain AI-powered clarity from real-time energy, carbon, and ESG data across their portfolios and supply chains. The platform is designed to digitize the overall energy and sustainability value chain for enterprise companies.

Key Technologies Utilized

The company employs cloud computing, big data analytics, artificial intelligence (AI), and Internet of Things (IoT) technologies to provide its solutions. These technologies enable Faradai to offer comprehensive digital energy management and sustainability intelligence services to its clients.

Primary Markets Targeted

Faradai serves a diverse range of industries, including built environment, retail, banking, healthcare, government, logistics, hospitality, education, and manufacturing. The company's platform is utilized by Fortune 500 companies across these sectors, assisting them in managing energy consumption and carbon emissions.

Financials and Funding

Funding History

In November 2022, Faradai raised $2.4 million in a pre-Series A funding round. The round was led by Edenbase from the UK and Sangha Capital based in Switzerland. Notable participants included Bill Tai, an early-stage investor in Zoom and Canva, through his Silicon Valley-based fund, ACTAI Ventures. Additional contributors were UK-based prop-tech fund Goldacre, Singapore-based technology fund EthAum Ventures, and multiple investment professionals from Goldman Sachs UK, along with angel investors from the UAE, Turkey, and India.

Total Funds Raised

As of the latest available information, Faradai has raised a total of $2.4 million in funding.

Utilization of Capital

The funds from the pre-Series A round are intended to accelerate the advancement of Faradai's Net-Zero Intelligence Platform, expand its sustainability subject matter expertise through specialists and data scientists, and facilitate faster international expansion, particularly in the UK, Europe, MENA, and APAC regions.

Pipeline Development

Key Pipeline Candidates

Faradai's primary offering is its Net-Zero Intelligence Platform, which assists organizations in monitoring, reducing, and managing their energy consumption and carbon emissions. The platform provides real-time insights and audit-ready reports, enabling organizations to effectively track and reduce their greenhouse gas emissions.

Stages of Development

The platform is currently operational and utilized by numerous global corporations. Faradai continues to enhance and expand its offerings to meet the evolving needs of its clients.

Target Conditions

The platform is designed to assist organizations in achieving their net-zero targets by adhering to the principles and guidelines in the Science Based Targets initiative and GHG emission standards.

Anticipated Milestones

Faradai aims to expand its international presence and enhance its platform's capabilities to support organizations in their sustainability and decarbonization efforts.

Technological Platform and Innovation

Proprietary Technologies

Faradai's platform integrates with software and hardware systems to collect sustainability and energy data across businesses. It offers dashboards that provide a 360-degree view of all sustainability and energy data, and a library of emissions factors that convert raw source data to CO2 equivalent. The platform normalizes data and conducts analysis to provide actionable insights.

Significant Scientific Methods

The platform employs AI-powered digital consulting, automated data validation for precise carbon accounting across scopes 1, 2, and 3, and ESG reporting modules aligning with international frameworks like SASB, GRI, CDP, and TCFD. It also features customizable ESG dashboards for informed sustainability decisions and real-time dashboards for facility benchmarking and alerts on wasted energy usage.

Leadership Team

Key Executives

Sahin Caglayan: Co-Founder and Chief Executive Officer. Sahin has held various roles in the technology industry since 2009, including Co-Founder and CTO at REENGEN and Co-Founder at Başlangıç Noktası. He completed his Bachelor's degree in Electrical and Electronics Engineering at Orta Doğu Teknik Üniversitesi / Middle East Technical University.

Burak Sefer: Co-Founder and Chief Operating Officer. Burak is the brain behind the tech side of the company, as REENGEN started out of his Master's Thesis. He specializes in Renewable Energy and Energy Efficiency and holds a degree from Ozyegin University.

Utku Simitli: Co-Founder and Head of Product. Utku has a background in Mechanical Engineering from Özyeğin University and has been involved in various research and development projects.

Competitor Profile

Market Insights and Dynamics

The market for energy and sustainability intelligence solutions is growing rapidly, driven by increasing regulatory requirements and corporate commitments to sustainability. Organizations are seeking comprehensive platforms to monitor, report, and reduce their carbon emissions and energy consumption.

Competitor Analysis

Faradai operates in a competitive landscape with several companies offering similar solutions. Key competitors include Cimico, Scope AR, and Mushroom.gg, among others. These companies provide various technologies and services in the energy and sustainability sector.

Strategic Collaborations and Partnerships

Faradai has established strategic partnerships with Cisco, Oracle, Atalian Global Services, ISS, and Tech Data to provide joint product and service offerings.

Operational Insights

Faradai differentiates itself through its comprehensive platform that integrates with existing software and hardware systems, providing a 360-degree view of sustainability and energy data. The platform's AI-powered analytics and real-time insights offer actionable recommendations for organizations to achieve their net-zero targets.

Strategic Opportunities and Future Directions

Faradai aims to expand its international presence, particularly in the UK, Europe, MENA, and APAC regions. The company continues to innovate and enhance its platform to meet the evolving needs of organizations striving for sustainability and decarbonization.