Announcing Minimum's $2.6m Seed Round 🌱🚀
Minimum, a Y Combinator startup, has raised a $2.6m round led by Octopus Ventures to make carbon neutrality accessible to all businesses
I'm delighted to announce that Minimum has raised a $2.6m Seed Round led by Octopus Ventures, with Clocktower Ventures, Dutch Founders Fund, Plug & Play Ventures, VentureSouq, and AGO Partners participating alongside an incredible team of Angels. We're incredibly excited to have such an fantastic mix of investors supporting us in our mission to make 'carbon neutral' the new normal for businesses everywhere.
Introducing Minimum: an easy way to integrate carbon neutrality into your business
Minimum allows businesses to make their operations carbon neutral by default. Minimum’s platform allows businesses to both calculate the carbon footprint of its products & services, and to connect to a curated set of market-leading carbon offsetting projects to neutralize their environmental impact. Once businesses have selected projects to support, Minimum's proprietary API can be used to embed carbon calculation and offsetting functionality directly into their business processes or customer journeys, for example by triggering an offset at the point of sale. Alternatively, you can use Minimum’s simple web app to easily input company emissions information manually.
Consumers are demanding sustainability as standard. Companies need to step-up...
Almost all companies emit carbon when they operate: from video streaming, to coffee subscriptions, to ride-shares. With the growing awareness of the damage these emissions have on the planet, consumers are demanding more sustainable practices from brands, with 80% now indicating that Sustainability is important for them . Indeed, in over 90% of CPG categories, sustainability-marketed products grow faster than their conventional counterparts .
... but effective sustainability has traditionally been very difficult to achieve!
While there's a huge commercial opportunity and moral imperative for businesses to demonstrate strong sustainability commitments, taking effective action can be very difficult. Previously if companies wanted to integrate sustainability into their business they'd need to:
- Have deep expertise in calculating emissions (or pay a lot of money to pay consultants to do it for them)
- Source, assess and negotiate terms with offsetting projects [which can be a minefield!]
- Build out a tech system to enable automatic emission calculation & offsetting fulfilment (or have someone do it by hand...)
- Build a tool to track, report and communicate their impact effectively.
Minimum takes that entire process and streamlines it into an accessible SaaS solution that can be embedded directly into your business, making sustainability a natural and seamless part of your operations.
Minimum's tech-first solution democratises sustainability for all companies
Minimum uses sophisticated algorithms to calculate carbon emissions, instead of armies of consultants, costing a fraction of the price. Our API then allows businesses to embed real-time emissions tracking directly into the business itself, and to automatically neutralize all unavoidable emissions they create. Not only does this allow businesses to make their operations carbon neutral by default but, armed with an understanding of their carbon impact, companies can provide much-needed carbon transparency to their customers and are better equipped to continuously improve the sustainability of their processes.
How does Minimum calculate emissions?
Minimum’s calculation engine works by automatically converting key data about each product or activity into emissions information. For example, the emissions of a T-Shirt might be calculated from data regarding: weight, raw materials, transport and delivery, manufacturing process, etc.; the emissions of internal employees’ travel can be calculated from: origin, destination, and mode of transport, etc. Where possible, we incorporate the specific, personalized data provided by the company itself; if your businesses doesn't have this data, we uses probabilistic models to combine whatever data your business does have with wider datasets to provide an estimate of the emissions.
Our carbon removal and reduction projects
We conduct significant due diligence to select only highest calibre carbon removal and reduction projects. This ensures that all companies can precisely track the positive impact of their offsets and can pass this information on to their customers. Minimum’s portfolio of projects has been specifically selected to reflect the Oxford Principles for Net Zero Aligned Carbon Offsetting, giving businesses access to a range of both carbon reduction projects (e.g. renewable energy, forest protection, etc.) as well as carbon removal projects (e.g. reforestation, direct air carbon capture, etc.). Businesses can select individual projects to support or choose a diversified portfolio.
Our future plans
We're already using our Seed funding to supercharge our progress in making carbon neutrality the new default for businesses within Europe and the USA, including: tripling the team, expanding our customer offering, and continuing to invest in our proprietary calculations engine. By the end of 2021, with use-cases rapidly emerging in industries as far-ranging as on-demand delivery, real estate, and cryptocurrency, we at Minimum expect to facilitate the offsetting of over a hundred thousand tonnes of CO₂e.
I hope you're excited as we are about what we're building here at Minimum! If you'd like to chat further about your sustainability needs then please contact me at firstname.lastname@example.org, or if you're interested in working with us then check out https://careers.minimum.eco.