Coolset, a Dutch GreenTech startup, has set out on a mission to assist SMEs in lowering their carbon impact. The startup secured €1.5 million in funding to launch its automated decarbonization tool soon.
More than 50k companies in Europe will have to report on their sustainability plan and carbon impact by 2024. This necessitates extensive data management and in-depth carbon monitoring. Multiple goal-achieving options exist but SMEs find them inaccessible as they cater primarily to enterprise clients. SMEs represent 80% of global businesses.
Coolset, previously known as Greencast.io, developed a new network exclusively aimed at this demographic. Founded in 2021, the startup has recently received €1.5 million to launch its tool. Moreover, Global Cleantech Capital served as the lead investor for this round of funding. Shamrock Ventures, Horizon, The Sharing Group, and different angel investors also participated.
Konstantinos Kouzelis, co-founder and CEO of Coolset said:
“The launch of our new automated decarbonization platform and the funding we secured to boost our team and growth are thrilling for us. Our platform offers SMEs a quick and easy way to do this. We believe that as businesses pursue their net-zero goals, they will require digital solutions to guide them along the most effective pathways.”
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The platform of Amsterdam-based Coolset allows SMEs to measure, analyze, reduce, and eliminate their carbon impact in just a few weeks, making it an affordable and practical substitute for using Excel-based tools or hiring pricey consultants.
The upcoming EU Corporate Sustainability Reporting Directive (CSRD) will be applicable to small business owners and start-ups. They will need to comply with the new regulations when it goes into effect next year.
Paul Kloppenborg, the managing partner at Global Cleantech Capital, said:
“The cost-effective solution is truly one-of-a-kind, and Coolset helps SMEs—who typically aren’t served by big consultants selling hours—accelerate their path to net zero emissions. The way these businesses approach decarbonization could be revolutionized by Coolset, effectively future-proofing the economy. We are thrilled to be a part of Coolset’s journey and have been impressed by its rapid development.”
The company currently collaborates with clients like Lepaya, HelloPrint, and MyWheels. With the help of the additional money, the Dutch GreenTech startup will be able to improve the platform’s features that let users plan scenarios, establish benchmarks, and produce practical decarbonization plans for scopes 1, 2, and 3.
Tommy Hurley, managing partner at Shamrock Ventures added:
“Coolset’s vision and ability to transform it into a practical solution that benefits numerous businesses impressed us. Due to its unique combination of automation, analytics, and usability, Coolset’s platform is a compelling option for SMEs looking to reduce their carbon footprint. Therefore, we are excited to continue supporting Coolset in its growth and impact.