We are discussing Ofload Logistics Startup Secured $31 Million to Offer Carbon Emissions Tracking Tool:
Ofload is a logistic startup based in Sydney. It secured $31 million to offer a carbon emission tracking tool and platform. Geoffroy Henry founded Ofload to provide an online digital platform focused on helping companies make their supply chains more efficient and affordable. Offload’s carbon analytics platform explains how companies measure carbon emissions within their supply chains.
The platform was founded because Australian companies of all sizes are being asked to prepare for federal regulation that will mandate emission reporting. The program was aimed at large companies; however, small companies within the supply chain could also be affected. The startup confirmed that it raised $31 million in the latest funding round to widen its business growth and enhance its Carbon analytics platform. The round had participation from its existing investors, including King River Capital and Jungle Ventures, and was led by Yarra Capital Management.
This logistic startup previously raised $60 million in its series B round and $20 million in its series A funding round. The new round increases the load valuation by 200% to $350 million compared to the last two years. The startup reported its revenue to be more than $25 million and has around 120 employees. To increase its growth, the startup has bought stakes in other companies, including transport management companies MF Freight and CIA Logistics.
The company uses cutting-edge data analytics technology to analyze or track several criteria, including freight distance, loading factor, vehicle type, and fuel consumption. Henry, the founder of Ofload, mentioned that the law would naturally affect small businesses in major supply chains. CAP was made to reduce the cost and complexity of compliance for both small and big businesses. Some companies, including Noumi, Kimberly Clark, and Metcash, already use the platform.
Conclusion
The logistic startup Ofload raised $31 million in a funding round led by Yarra Capital Management. This startup raised the funds to offer a carbon emission tracking platform. Offload provides an online digital platform focused on helping companies make their supply chain more efficient and affordable. Offload’s carbon analytics platform tells how companies measure carbon emissions within their supply chain. The platform was founded because Australian companies of all sizes are being asked to prepare for federal regulation that will mandate emission reporting. The program was aimed at large companies; however, small companies within the supply chain could also be affected.
The round had participation from its existing investors, including King River Capital and Jungle Ventures, and was led by Yarra Capital Management. The startup confirmed that it raised $31 million in the latest funding round to widen its business growth and enhance its Carbon analytics platform. The new round will increase the offload valuation by 200% to $350 million compared to the last two years. The startup reported its revenue to be more than $25 million, with around 120 employees. The platform uses data analytic techniques to track a number of criteria, including freight distance, loading factor, vehicle type, and fuel consumption.
