Pelt8 secures pre-seed investment

In Switzerland, even if companies such as Givaudan, Swisscom, Roche or Sika1 have grown to become sustainability reporting leaders, only 16% of the 258 companies listed on the SIX Stock Exchange are reporting on their sustainability performances and practices based on internal research.

Moreover, companies that are already reporting often only track their sustainability performance once a year, as part of the annual reporting cycle. This process is cumbersome as capturing the underlying data can involve hundreds of people and is managed through emails and spreadsheets. These ad-hoc reporting processes are error-prone, resource intensive, and keep companies from effectively and accurately evaluating their performances.

With its solution, Pelt8 wants to accelerate climate action. The startup, founded in August 2021, offers a cloud platform with scalable processes and controls to collect sustainability-related data in an easy and auditable way, and generate automatically curated reports. By removing data collection complexity, the solution will enable companies to respond to the growing demand for transparency from upcoming regulations and reporting requirements. The platform supports international reporting standards and bespoke management reports.

After launching the MVP in September 2022 they have experienced a growing demand for the Pelt8 platform. The company serves eight customers including AXA, SIX, Adnovum, TexAid, and Schenk. “With the ordinance on climate disclosures entering into effect in 2024, Pelt8 aims to position itself as the leading solution enabling companies in Switzerland to deal with their reporting needs in an efficient and auditable way,” said Gwen Jettain, Co-founder and CC0 at Pelt8.

The proceeds from its new financing round will help the startup to strengthen its product and development team. Under the lead of SICTIC, the round saw the participation of experienced entrepreneurs Ralph Mogicato, and Andreas Bezner, Co-founder & CEO of Stableton. Individuals in the sustainability, technology and financial services sectors also joined the round.

“We are excited to work with investors who share our vision to build a cohesive sustainability-tech ecosystem with Pelt8’s data management at the centre. We see the imminent need for tens of thousands of companies to get their sustainability reporting on par with their financial reporting. This is an opportunity to help companies to move away from reporting for reporting's sake and commit to measurable actions,” said Julian Osborne, founder and CEO of Pelt8.

Pelt8 is a runner-up at the 2022 Swiss Fintech Awards and a winner of the Catapult Kickstarter program in Luxembourg. They have recently become a participant in the Swiss Triple Impact initiative, making commitments to create a positive impact beyond their solution.