Onlygood.ai, a platform focused on simplifying carbon management and sustainability reporting, has raised Rs 4 crore (about $500,000) in seed funding. The round was co-led by IIT Madras Incubation Cell (IITMIC), Goel Group, and Daimler India Commercial Vehicles (DICV), which has secured a 1.5% equity stake at a set valuation.
The funding will be used to expand operations in India and the Middle East, with plans to enter Europe in 2024. Onlygood aims to enhance its team, improve product features, and strengthen its technological infrastructure.
Founded in 2022 by Rajeev Sinha and Vivek Mehra, Onlygood addresses the carbon emissions crisis through innovative solutions. Its platform helps businesses measure, track, and reduce their carbon footprints, enabling informed decisions on efficiency and sustainability. Key offerings include Decarb Navigator and Decarb X-celerator.
Having launched its beta platform in 2022, Onlygood has partnered with notable industry players like Maruti-Suzuki and DICV, gaining recognition for its sustainability initiatives. The platform facilitates compliance with carbon regulations, generating reports in formats like BRSR, CSRD, and CBAM. It features auto-hooks for compliance and a strategic tool to guide companies through their decarbonization journeys.
Based in Gurugram, Onlygood aims to provide real-time product traceability across supply chain touchpoints, working with partners like Blue Ocean Steel and Envex to deliver comprehensive sustainability solutions.
By Entrackr
Source: Entrackr