forward earth Raises EUR 3.2 Million to Pioneer Embedded AI Software for Global Supply Chain Decarbonization

The Berlin-based company provides hundreds of thousands of businesses worldwide access to its easy-to-use, AI-powered environmental management software by seamlessly embedding it into existing compliance and supply chain software.

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- forward earth’s AI-automated environmental management software is the first to enable a complete overview of compliance, risk management, and supply chain data for businesses globally 

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- €3.2 million combined funding round includes participation from Speedinvest, Revent, Lucid Capital,  serial entrepreneurs Anna Alex and Benedikt Franke as well as from the EU (ERDF [1])

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- The company has already established strategic partnerships across North America, Europe, and Asia and will use the funding to enhance its technology and further expand its global presence

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Berlin, Germany - [19 June 2024]: forward earth, an AI-powered environmental software company, has raised €3.2 million to simplify the process for hundreds of thousands of companies worldwide to meet stringent environmental requirements and drive sustainability in global supply chains. The funding will help the company to enhance its AI-powered technology and expand across North America, Europe, and Asia. The round was led by Speedinvest, one of Europe’s leading early-stage investors, along with Revent, Lucid Capital, the EU, and serial entrepreneurs Anna Alex and Benedikt Franke.

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In addition to the €2 million pre-seed funding from private investors, forward earth has also raised €1.2 million in funding from the European Union (EFRE) in recognition of the importance of the company’s technology in addressing environmental challenges within global supply chains and thus helping businesses to meet newest EU standards.

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Addressing the $100bn carbon market 

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Hundreds of thousands of companies must now report their environmental data to business partners and regulators due to increased commercial pressure and stricter regulations, especially in the EU, UK, and the US. As a result, the market is expected to grow from $15bn to $60 - $100bn by 2032, and the vast majority will be captured via supply chain emission tracking. [2]

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Environmental data is becoming a crucial element of compliance and supply chain management, and a holistic view across all aspects is critical for companies. forward earth’s AI-powered environmental management tool integrates into existing software providers to help businesses generate all necessary environmental data inside of their existing business software for compliance, risk, or supply chain management. The resulting reports cover all relevant regulatory requirements for customers, including the EU’s newly established Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CSDDD), and Cross Border Adjustment Mechanism (CBAM), as well as upcoming US regulation recently approved by the U.S. Securities and Exchange Commission (SEC).

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Expanding the forward earth footprint globally 

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“Decarbonization has become a crucial regulatory requirement for businesses globally, yet the vast majority of companies still do not have clear visibility into their environmental impact, especially deeper down the supply chain. We have built a product that empowers businesses worldwide to become sustainable and compliant with little effort and cost. By embedding our AI-automated environmental management software into our partners’ software, we will support hundreds of thousands of businesses with a critical part of their reporting lifecycle as they embark on their decarbonization journey in the years to come.” says Dr. Micha Schildmann, founder and CEO of forward earth.

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“Micha and the rest of the team bring an absolutely unique wealth of experience from our former portfolio company, Planetly, to tackle a still unsolved problem. forward earth’s product will unlock detailed carbon and environmental data for anyone offering ESG, GRC, or supply chain intelligence globally,” says Speedinvest Partner, Fred Hagenauer.

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forward earth already boasts several key partnerships, including software providers across compliance, supply chain management, and ESG (Environmental, Social and Governance) in the EU, the US, and Asia.

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About the founders

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Dr. Micha Schildmann (CEO): Former co-owner and Chief Strategy Officer at Planetly, acquired by US-based OneTrust in 2023. After the acquisition, Micha joined OneTrust as VP of Strategy for ESG. He is also a former founding member of the climate change service line at McKinsey & Co.

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Cari Davidson (CTO): Former CTO of Planetly, VP of Engineering at OneTrust, and Venture CTO at Boston Consulting Group Digital Ventures (now BCG X). Cari has led engineering teams for over 20 years in various industries, including manufacturing, SaaS, and e-Commerce.

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Giuseppe Gentile (CPO): Former CPO of Planetly and VP of Product at Global Savings Group. Giuseppe (Peppe) has over 10 years of experience as a product executive in sustainability and white-label products.

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For media inquiries or further information, please contact: contact@forward-earth.com

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About forward earth:

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forward earth is a Berlin-based startup dedicated to revolutionizing environmental management through AI-powered software solutions. Founded by industry experts, the company aims to empower businesses worldwide to embrace sustainability and drive towards a greener future by providing cutting-edge environmental management tools. Learn more at www.forward-earth.com

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About Speedinvest: 

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Speedinvest is a leading early-stage venture capital firm with more than €1 billion AuM and 40+ investors based in Berlin, London, Munich, Paris, and Vienna. Our dedicated sector-focused teams are the first to fund Europe's most innovative technology startups, and our in-house operational experts are on hand to offer founders ongoing support with growth, HR, market expansion, and more. Bitpanda, GoStudent, Wayflyer, Open, CoachHub, Schüttflix, TourRadar, Adverity, and TWAICE are among our portfolio of 300+ companies. Learn more at www.speedinvest.com

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About Revent:

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Revent is a Berlin-headquartered early-stage venture capital firm backing ambitious founders addressing critical gaps in planetary and societal health. With our €60 million first fund, we are the earliest partners to Europe’s emerging generation of mission-driven champions, who are harnessing technology to drive positive impact in climate, health, and economic empowerment. Learn more at www.revent.vc

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Sources:

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[1] European Regional Development Fund

[2] Carbon Software Market Size and Forecast: Global Newswire; Carbon Software Market Size and Forecast: Fortune Business Insights

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