Berlin, Germany – June 19, 2024 – A wave of new environmental regulations is hitting businesses globally, leaving many scrambling to meet stricter reporting requirements. But a Berlin-based company called forward earth is offering a lifeline with its innovative AI-powered software.
forward earth just secured €3.2 million in funding to simplify the complex process of environmental data reporting for hundreds of thousands of companies worldwide. This will allow businesses to not only comply with regulations but also drive sustainability across their supply chains.
The funding boost will fuel the company’s expansion across North America, Europe, and Asia, allowing them to enhance their AI technology and reach more businesses. The round was led by Speedinvest, with backing from the European Union (EU) and prominent figures like Anna Alex and Benedikt Franke.
EU Backing for a Sustainable Future
The EU, recognizing the importance of forward earth’s technology in tackling environmental challenges, contributed €1.2 million to the funding. This highlights the growing need for businesses to gain clear visibility into their environmental impact, especially within their supply chains.
“Companies are facing a crucial challenge: reducing their carbon footprint while complying with stricter regulations,” said Dr. Micha Schildmann, founder and CEO of forward earth. “Our AI software empowers businesses to become sustainable and compliant with minimal effort. By integrating seamlessly into existing software, we’ll support them on their decarbonization journey.”
Untangling the Environmental Data Web
The pressure to report environmental data is intensifying due to stricter regulations in the EU, UK, and US. This has created a massive market expected to reach $60-$100 billion by 2032, with supply chain emission tracking playing a key role.
forward earth’s AI tool tackles this challenge head-on. It integrates with existing software, allowing businesses to generate environmental data within their familiar workflows, simplifying compliance, risk management, and supply chain management.
The reports generated by forward earth cover all relevant regulations, including the EU’s new CSRD, CSDDD, and CBAM directives, as well as upcoming US regulations from the SEC.
“forward earth’s team has a unique advantage,” says Speedinvest Partner Fred Hagenauer. “Their experience combined with their AI technology will unlock detailed environmental data for businesses seeking ESG and supply chain transparency.”
Building Partnerships for a Sustainable Tomorrow
forward earth is already collaborating with key software providers across compliance, supply chain management, and ESG in various regions. This network will be crucial in their mission to empower businesses to navigate the changing environmental landscape.
With its innovative approach and strong partnerships, forward earth is poised to become a game-changer in environmental data reporting, helping businesses achieve sustainability goals and navigate the path towards a greener future.
