A platform called Onlygood.ai, which aims to make sustainability reporting and carbon management easier, has raised Rs 4 crore, or roughly $500,000. Goel Group, IIT Madras Incubation Cell (IITMIC), and Daimler India Commercial Vehicles (DICV), which has acquired a 1.5% equity stake at a predetermined valuation, co-led the round.
With plans to enter Europe in 2024, the funding will be used to expand operations in the Middle East and India. Onlygood wants to grow its staff, add more features to its products, and fortify its technology base.
Onlygood is a 2022 startup founded by Rajeev Sinha and Vivek Mehra that uses creative thinking to solve the problem of carbon emissions. Its platform facilitates the measurement, tracking, and reduction of businesses’ carbon footprints, allowing for well-informed choices regarding sustainability and efficiency. Decarb Navigator and Decarb X-celerator are two important products.
Since launching its beta platform in 2022, Onlygood has garnered recognition for its sustainability initiatives by partnering with prominent industry players such as Maruti-Suzuki and DICV. The platform generates reports in formats such as BRSR, CSRD, and CBAM, making it easier to comply with carbon regulations. It has compliance auto-hooks and a strategic tool to help businesses on their decarbonization journeys.
With partners like Blue Ocean Steel and Envex, Onlygood, based in Gurugram, seeks to offer real-time product traceability across supply chain touchpoints and complete sustainability solutions.
