Tech

Vaayu has secured $ 1.6 million in pre-seed funding to develop products that will save the world.

Vaayu, a real-time carbon footprint tracker for retailers, has raised $ 1.6 million in pre-seed funding. The company plans to leverage its Amsterdam-based investment. Female-led VC CapitalT will support expansion and product development before moving out of the closed beta phase later this year. In addition, the funding was supported by many angel investors such as Atomico’s Angel Program, Planet Positive LP, Saarbrücker21, Expedite Ventures and NP-Hard Ventures.

Globally, the fashion industry accounts for about 10% of annual carbon emissions. Vaayu’s Products allow retailers to act to reduce their contributions by providing real-time feedback. Modern trends in both fashion and retail mean that e-commerce is increasingly affecting the environment. It grew during the pandemic, with a significant increase in shipping and packaging after the first dip. E-commerce also has some features that are less common in traditional retail, such as returns and multiple orders for sizing. In summary, these significantly increase the environmental impact of retailers.

The first ever carbon tracking software for retailers

Vaayu was born out of co-founder Namrata Sandhu’s fashion and sustainability experience. She started out as a sustainability consultant, worked for the Arcadia Group for many years, and then became responsible for sustainability in Theland. She launched Vaayu in December 2020 with co-founders Anita Daminov and Luca Schmid, rapidly advancing the idea to a closed beta with 25 European retailers, including global brands such as Missoma and Organic Basics.

Business is also especially female driven. Not only are two of the three co-founders women, but they are also taking the time to help the company maintain gender diversity. Women-led Capital T support was important because Sandhu felt he understood Vaayu’s broader goals and ambitions. This means that over 60% of the people around Vaayu’s top table are women.

Calculating retailers’ carbon dioxide emissions was previously a tedious and costly process. Sandhu had these responsibilities, but many other retailers relied on hiring external consultants for their annual process. “In the past, we used to get everything in an Excel spreadsheet and calculate it,” Sandhu explained. “But e-commerce is a fast-moving area and the business footprint is changing rapidly. Last year’s big market may not be the biggest market of the year.” As a result, companies say it. You now have a carbon accounting report that was already out of date when was created.

Vaayu uses live data to modify calculations and provide immediate feedback. By integrating with point-of-sale systems such as Shopify and WooCommerce, you can now understand your current trading volume and use known logistics and operational information to bring your retailer’s carbon emissions down to the required packaging. Can be shown. Live information has great benefits, allowing retailers to see the results of their actions immediately, but see how buying trends are impacting and, if necessary, minimize the impact on the environment. You can also try to keep it down.

This product focuses on fashion retail. Therefore, while there are competitors working in the field of carbon auditing, Vaayu works only in the fashion retail industry. “This means that we can run much different benchmarks from a data perspective,” says Sandhu. “Everything is focused on a particular business model, which makes the optimization process much more specific.”

Expansion plans in the EU and UK

Berlin-based Vaayu, which has successfully completed the beta phase, will use its pre-seed funds to plan the next phase of expansion. Currently focusing on Europe and the UK thereafter, we are expanding our team and preparing for the open house before seeking additional funding. From the beginning, Vaayu has worked diligently with its customers to build models that offer more than a theoretical assessment of their carbon footprint. Their beta phase focuses on ensuring that the integration provides practical data for the business. Sandhu emphasizes that partnerships with companies are essential to their products. We really wanted to attract customers from the beginning and make sure it was useful to them, so we built it with them. “

Vayu Missoma, CEO and Creative Director, working with Missoma, one of the UK’s fastest-growing private companies, said: Vayu As part of our sustainability journey, it was of paramount importance to our own internal mission. With a broad background in retail, they can truly understand our needs while at the same time digitizing data in real time, pushing the boundaries of our potential even further. “

The United Nations has set a goal of reducing carbon emissions by 50% by 2030 within nine years. Retailers are the third largest contributors to global emissions, and Vaayu plans to play a major role in helping reduce them. Their goal is to enable retailers to reduce emissions by one gigaton (more than the sum of annual emissions in France and Germany). In short, Vaayu’s success is a better world for everyone, not just for business growth.

Janneke Niessen, founding partner of CapitalT, commented: Vayu About their mission to reduce carbon emissions from retailers around the world.The· Vayu The product is highly scalable and its quick and easy implementation allows for quick adoption. We, with this experienced team Vayu It will soon become one of the fastest growing climate technology companies in Europe and the world. “



Vaayu has secured $ 1.6 million in pre-seed funding to develop products that will save the world.

Source link Vaayu has secured $ 1.6 million in pre-seed funding to develop products that will save the world.

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