We are delighted to have led the £1.3m seed round in My Emissions, which closed this month.
My Emissions offers a simple platform for food companies to report their scope 3 emissions. They also offer product carbon assessments so companies can reduce emissions from food and display carbon labels.
They work with major food companies including Just Eat, AB World Foods, a large North American QSR and more. They also offer an affordable package for SME food companies, making carbon assessments and labelling accessible to everyone.
More than one third of global greenhouse gas emissions caused by human activity can be attributed to the way we produce, process and package food, according to the UN.
As a result, we’ve seen food companies come under increasing pressure from customers, investors and now regulators to report and reduce their carbon footprint. We believe the UK is the right market to produce a global leader in this space, and it has therefore been a priority focus for our Leaders Fund’s sustainability thesis.
With complex product lifecycles, the food sector needs software-led data insights to efficiently report and reduce their carbon emissions. My Emissions’ integration-first approach instantly stood out as a clear solution to collecting data from across the supply chain.
We were also impressed that My Emissions is already engaging with DEFRA to standardise emissions reporting and eco-labelling in the UK, in a sign that their methodology offers a pragmatic solution for the food sector.
The quality of the teams we back is critical to all of our investment decisions. My Emissions was started by two outstanding founders. Matthew and Nathan met whilst studying at the University of Cambridge and bring complimentary skillsets: Matthew focuses on positioning and growing the business, whilst Nathan (an Engineer by trade) focuses on building a first-class product that can scale.
We have conviction that measuring and reducing food emissions will become the norm globally and this is the teamwe’re backingto grow a huge business in the sector.
The Hambro Perks Leaders Fund and EIS Fund together made a £650k investment, with Love Ventures and a number of prominent angel investors also taking part.