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Sustainability data platform Worldfavor fuels up for ecosystem opportunities

Sustainability data platform Worldfavor fuels up for ecosystem opportunities Image
  • Posted on 23rd Aug, 2022 06:03 AM
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More funding for sustainability reporting: Sweden’s Worldfavor, an early mover platform focused on building digital infrastructure to support supply chain transparency and cater to organizations’ ESG (environmental, social, governance) reporting needs, has bagged €10.2 million in Series…

More funding for sustainability reporting: Sweden’s Worldfavor, an early mover platform focused on building digital infrastructure to support supply chain transparency and cater to organizations’ ESG (environmental, social, governance) reporting needs, has bagged €10.2 million in Series A funding to step on the growth gas.

The Series A was led by SEB Private Equity, which is part of Nordic corporate bank SEB, with existing investors Brightly Ventures and Spintop Ventures also participating. The raise brings Worldfavor’s total raised to date to €13.4M.

Over the past five+ years, a growing number of supply chain transparence and sustainability reporting startups have been popping up as consumer pressure on ethical and eco issues (not to mention frustration with ‘greenwashing’) has built a head of steam — combined with increased attention and hard reporting requirements from policymakers, such as via EU regulations linked to the European green deal, whereby the bloc is aiming to be “climate-neutral” by 2050.

Worldfavor co-founder and CEO, Andreas Liljendahl, says he welcomes the thickening pack of sustainability reporting players — envisaging a future of rich collaboration and startup opportunity to cater to increasingly comprehensive and intertwined reporting requirements.

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