Pelt8 completes first financing round

Spreadsheets, emails and surveys are still predominantly used in various organisations for the data collection on sustainability. With the growing demand for sustainability reporting, using these traditional approaches can lead to errors, inaccurate information collected, and high costs.

Zurich-based startup Pelt8 wants to ease this process with a cloud platform designed to remove complexity from the sustainability space by making sustainability measurable and manageable. The platform enables organizations to collect sustainability data following international standards (GRI, SASB, TCFD) or regulatory requirements (SFDR, CSRD), aggregate and enrich it with suppliers' or investees' information, and share it in various formats with any stakeholder – all on one platform. The solution will save companies 100s hours of work.

“We are building a data hub to empower companies’ sustainability”, says cofounder Gwen Jettain. “Next to the time saved in coordinating stakeholders, Pelt8 provides audit-ready processes, increased data quality, and the ability to re-use the data for different reporting requirements. We also plan for analytical capabilities and enable the connection to specialized sustainability applications, like carbon emission calculators.”

The startup has already concluded proof of concept for the platform with a selected user base and by the end of summer 2022, the team plans to have completed the minimal viable product for the Swiss market. The first investment round supported by a group of entrepreneur business angels will accelerate the process.

Pelt8 has recently become an associated member of the WISER Flagship consortium. The consortium is composed of research institutions (EMPA, Paul Scherrer Institut, HSG,…), Swiss cities (Lausanne, Winterthur, Schaffhausen) as well as large organizations such as ABB, EY and Microsoft. The project, financed by Innosuisse, is meant to create the world’s largest open-source digital ecosystem for transparent, auditable & trusted GHG assessments for any organisation and society.

The funds will also flow into team expansion. In addition to the two co-founders, Julian Osborne and Gwen Jettain, Pelt8 welcomed two employees last month: Miranda Rugovaj joined us as Sustainability Research Analyst Intern, and George Graver will assume his role as a Senior Developer in June. With the capital raised, the startup plans to hire a Chief Software Architect and Lead Designer.

(RAN)