A cleantech startup called EcoRatings has received a big boost in its quest to make sustainable processes mainstream. The company has just closed a $1 million (about ₹8.3 crore) pre-seed round with investors such as We Founder Circle, 888 VC, Vinners, Indigram Labs Foundation, and Google.
Environmental Sustainability
EcoRatings positions itself at the crossroads of technological innovation and environmental sustainability. With the use of Artificial Intelligence (AI), Machine Learning (ML), and big data, the startup measures the environmental footprint of products and services. Its purpose is to help organizations become responsible decision-makers in regard to ESG factors.
Premium Data Sources
EcoRatings aims to improve its data utility by procuring rights to high-quality databases. These sources will help the startup to improve its environmental impact assessments and offer better information to clients.
Increasing Tokenization
The startup strives to increase its tokenization offer. By creating tokens that represent specific environmental attributes, EcoRatings can provide more detailed information about the product’s effect. Consequently, it enables businesses to monitor as well as enhance their ESG performance efficiently.
Introduction to Multi-Modal Operations
EcoRatings acknowledges the fact that organizations exist within different industries and regions. To address these variations, the startup will implement multi-modal operations. With respect to consumer products, manufacturing processes, or supply chains, various modes of analysis are offered by EcoRatings.
Adoption of ESG Strategies
With climate change and sustainability becoming a more prominent issue across the world, businesses are under pressure to adopt ESG strategies. Investors, consumers, and regulators expect companies to be truthful and operate with integrity. EcoRatings currently claims to be a useful partner for those companies that need to operate in this environment.
EcoRatings and Sprih’s Prospects
EcoRatings is among the increasing number of cleantech startups that can be found in India. These companies are venturing into many fields starting from renewable energy to waste management. For instance, Sprih, another cleantech startup received $3 million in seed funding to help companies in reducing their carbon footprint. These startups’ combined actions help India move toward becoming a cleaner, greener nation.
Conclusion
EcoRatings’ pre-seed funding is a milestone in the company’s quest to increase ESG consciousness and encourage social change. As businesses today start to focus on sustainability efforts, companies such as EcoRatings are integral to driving change towards a sustainable business environment.
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