Tuesday, May 21, 2024
Climate tech start up pledge raises $10 million to drive decarbonisation of logistics supply chains

Climate tech start up pledge raises $10 million to drive decarbonisation of logistics supply chains

Climate technology leader Pledge has secured $10 million in Series A funding to drive its mission to help businesses reach net zero emissions, starting with the logistics and supply chain industry.

Pledge provides accredited tools for supply chain leaders and freight forwarders to understand, report, reduce, and remove their logistics emissions. Its platform is built with accessibility, transparency, and simplicity at its core. 

“We started Pledge with the belief that technology can be a powerful lever in the fight against climate change,” David de Picciotto, Co-Founder and Chief Executive Officer (CEO), Pledge, said.

“This funding round enables us to continue building best-in-class products to help accelerate businesses’ transition to net zero and remove gigatons of carbon from the atmosphere.”

READ: New lives for old uniforms

Increasing regulatory pressures from new climate directives, such as the Corporate Sustainability Reporting Directive (CSRD) and Fit for 55 in Europe, mean supply chain and logistics leaders need to address their emissions and make significant, long-term reductions.

Pledge is accredited by the Smart Freight Centre (SFC) for its adherence to the Global Logistics Emissions Council (GLEC) framework, the only globally recognised methodology for calculating greenhouse gas (GHG) emissions in the logistics supply chain, which has formed the basis of the recently published ISO 14083 standard. 

Pledge includes unique features such as Clarity™ and Accuracy™, which guide users through every step of the emissions calculation process, ensuring calculations are auditable and customers are confident in fulfilling their reporting requirements. 

READ: IATA recognises LATAM Cargo for its innovative solutions

Supply chain emissions account for over 70 percent of the total GHG emissions for large and medium-sized businesses, whilst the logistics industry as a whole produces 11 percent of the world’s total GHGs. 

Pledge’s self-serve product and free trial mechanism is part of its commitment to providing the best user experience in the industry and helping logistics companies of all sizes save time and resources, win new business, and improve supply chain resilience. 

The funding round is led by Zinal Growth, with new investors including Base Partners, Ace & Company, as well as founders from leading business-to-business Software-as-a-Service companies and veterans from the logistics industry, including Dirk Reich, former Member of the Management Board at Kuehne+Nagel.

Pledge has already partnered with a range of logistics and freight forwarding customers, including Ligentia, Raft, and Zencargo, as well as powering sustainability programmes for leading industry associations such as WCAworld, which counts over 10,000 members globally, and BIFA in the UK.

Picture of Edward Hardy

Edward Hardy

Having become a journalist after university, Edward Hardy has been a reporter and editor at some of the world's leading publications and news sites. In 2022, he became Air Cargo Week's Editor. Got news to share? Contact me on Edward.Hardy@AirCargoWeek.com

Newsletter

Stay informed. Stay ahead. To get the latest air cargo news and industry trends delivered directly to your inbox, sign up now!

related articles

ASL Airlines Australia inducts first B737-800 freighter

Saudia Group places the largest aircraft order in Saudi aviation history

AGI Global Logistics appoint Nicky Woodman as Manchester Co-Director