Root Global, a pioneering startup focused on reducing greenhouse gas emissions in the food industry, has recently secured €8 million in seed funding. This financial boost aims to propel the company into the forefront of climate action, enhancing sustainability practices across the sector.
The substantial funding round was spearheaded by Point Nine, with support from other influential partners like Project A, HelloWorld, and Arc Investors. This investment is set to advance Root Global’s mission to drive change and innovation within the global food supply chain, addressing climate challenges with groundbreaking solutions.
Addressing Supply Chain Emissions
Root Global tackles one of the most complex challenges in the food industry: accurately calculating and reducing greenhouse gas emissions. This endeavour involves tracing emissions back to their most significant sources, often found deep within supply chains. By focusing on emissions from suppliers, Root Global offers a solution that could redefine carbon accounting and set a new industry standard.
The company’s innovative approach is designed to demonstrate year-on-year emission reductions. With access to critical supply chain data, Root Global believes it can effectively navigate this €400 billion market, providing a clear and practical path towards sustainability for food companies worldwide.
Innovative Climate Solutions
In October 2023, Root Global launched the RootOS platform, a comprehensive tool that aims to manage and reduce greenhouse gas emissions across the food system. This all-in-one platform enables food companies to efficiently collect and verify extensive on-farm data.
RootOS assists companies in calculating their Corporate Carbon Footprint and aligns with the latest updates to the GHG Protocol. By establishing a reliable baseline, companies can plan reductions strategically, facilitating the calculation and communication of Product Carbon Footprints with buyers.
Moreover, RootOS measures Scope 3 emissions from agricultural activities, thereby supporting companies in their journey towards net zero. By partnering with major industry players, Root Global significantly enhances their capability to impact environmental change.
Collaborations with Industry Leaders
Root Global’s client roster includes some of Europe’s top food and beverage companies. These collaborations amplify the company’s impact. Root Global works with over 10,000 farmers, aiding in the management and reduction of millions of tonnes of CO2 emissions.
A noteworthy achievement includes onboarding the largest dairy plant in Europe and the world’s largest fast-food chain. These partnerships not only broaden Root Global’s influence but also deepen their expertise in emissions management across diverse sectors.
Co-founders Eric Oancea and Maurice Hensl emphasise the urgency of their mission, noting the increasing relevance of climate performance as a critical business indicator. They highlight instances where companies have faced customer loss due to inadequate climate documentation.
Market Expectations and Trends
Root Global’s €8 million capital injection serves as a catalyst for expansion. The company plans to attract fresh talent and develop customer-facing products, which will enhance their operational capability.
The funding empowers Root Global to further innovate, building upon their current platform to create a seamless user experience, and to expand their reach into new markets.
Future Outlook
With the new funding, Root Global is poised to enhance its technological offerings and solidify its market presence. The startup is expected to drive substantial changes in the industry, promoting widespread adoption of sustainable practices.
As the food sector grapples with environmental challenges, Root Global’s tools and services are positioned to become indispensable for companies aiming to achieve net zero targets.
Driving the Climate Agenda
Root Global’s mission is underscored by a profound commitment to sustainability and climate responsibility. The company’s efforts in reducing emissions stand as a testament to the power of innovation in confronting global challenges.
Root Global’s significant funding round signifies a pivotal moment in the fight against climate change within the food industry. With enhanced resources, the company is set to lead the sector towards a more sustainable future, ensuring that emission reductions become a standard practice rather than an aspiration.
