Carbon Maps raises $4mn to reduce food industry's environmental impact
Food production has a huge environmental impact. More than a third of greenhouse gas emissions caused by humans can be linked to food. With the climate around the globe running askew, it is important to assess the climate impact of the food industry. That's what Carbon Map does. However, it is unlike other carbon accounting start-ups. Let's see what it is all about.
Why does this story matter?
- The global food industry is one that comprises multiple nodes. It consists of diverse businesses that supply most of the food consumed by the global population.
- Regulating this complex supply chain is challenging, but it is one of the needs of the hour. Carbon accounting of the food industry will help make food production and processing more sustainable.
Carbon Maps focuses on products instead of companies
Carbon Maps caught everyone's eye after it raised $4.3 million just a few weeks after its inception. Unlike other carbon accounting companies, Carbon Maps does not calculate a company's carbon emissions as a whole. Instead, its focus is on specific products. Also, rather than restricting themselves to calculating carbon emissions, Carbon Maps measures the overall environmental impact of products.
Company's seeding round was funded by Breega and Samaipata
Carbon Maps was co-founded by Patrick Asdaghi, Jérémie Wainstain, and Estelle Huynh. The company's seeding round was funded by Breega and Samaipata. The two VC firms have also funded Asdaghi's previous start-up FoodChéri, a virtual restaurant started in Paris in 2015. Carbon Maps aims to use the seeding money to recruit engineers for the platform.
Carbon Maps focuses on the supply chain
Carbon Maps' focus is on the supply chain. This comes at a time when some French companies are working with ADEME (the French Agency for Ecological Transition) to develop an 'eco-score.' Eco-score is the life cycle analysis of a food product that takes into account how it impacts various categories from creation to disposal. It helps consumers make better ecological choices.
The company uses data from standardized sources
Carbon Maps has developed a platform that helps the food industry to calculate its carbon footprint based on water consumption, the amount of carbon dioxide emitted during production, the impact on biodiversity, and animal welfare. The company uses data from standardized sources such as IPCC, GHG Protocol, ISO 14040, and 14044. It targets food companies because they design recipes and choose suppliers.