3 years ago

Sourceful Raises $20 Million to Scale Sustainable Supply Chain Platform

  • Sourceful, a UK-based startup focused on sustainable supply chains, has secured $20 million in Series A funding led by Index Ventures, with participation from Coatue and Eka Ventures

  • The funding will be used for international expansion, hiring, and developing new product categories, including lifecycle assessments for plastics

  • Sourceful's platform helps businesses reduce their carbon footprint by providing data-driven insights into sustainable packaging and supply chain management

  • The company believes that reducing emissions can also reduce costs, challenging the notion of a 'green premium'.

      • ProblemTechnology

      "Businesses are under increasing pressure to reduce their emissions due to environmental urgency, consumer demand, and regulations around climate disclosure. Consumer industries account for 35% of global emissions, with 83% of those emissions coming from the supply chain. Ecommerce packaging continues to have an impact on the environment as online sales are increasing 15% each year. There is a perception that making emission reductions is unaffordable at scale, but this is not always the case. Businesses often lack the data and transparency to make informed decisions about sustainable packaging and supply chains."

      Solution

      "Sourceful provides a data-driven platform that helps businesses source and manage sustainable products. Businesses can use the platform to design custom sustainable packaging and offset their carbon footprint. The platform provides businesses with the data and transparency they need to make informed decisions about sustainable packaging and supply chains. Sourceful's platform can help businesses reduce their carbon footprint and save money."

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