Altruistiq

Altruistiq is a UK-based carbon analytics platform that enables businesses to manage Scope 1,2, and 3 emissions data. The company’s platform uses live tracking of customers’ carbon impacts and automatically gathers data to calculate emission baselines. Customers can set emission targets, backed by actionable abatement scenarios to support them. Through the platform, companies can share standardized reports with stakeholders to enhance the credibility of their environmental impact. Altruistiq provides carbon measurement solutions to businesses in the retail, logistics, and fashion industries, which have large and complex operations.

Key customers and partnerships

Altruistiq has partnered with Amazon Web Services (AWS) to build its SaaS solution in a scalable and dynamic infrastructure. Additionally, the company used AWS’s Custom Carbon Footprint Tool to measure its own cloud processing footprint. Altruistiq also improved its data platform by integrating Systemiq’s expertise in sustainable economic systems.

In November 2021, Altruistiq collaborated with DANX Carousel to reduce carbon emissions in the latter’s value chain with Altrusitiq’s real-time carbon data analysis and granular measurements. In July 2022, The company partnered with Gousto to offer CO2 reduction insights for its suppliers’ farming methods, recipes, and ingredients sold by Gousto. In October 2022, Altruistiq partnered with Meadow to measure carbon emissions data in the milk production supply chain. The company’s key clients include Meadow Foods, DANX Carousel, Gousto, and JDM Food Group, among others.

Funding and financials

The company’s latest funding round was in July 2022, when it raised GBP 15 million (~USD 18.1 million) in a seed funding round led by VC firm Molten Ventures. The funding was reserved for changing the company’s carbon reporting standard from a “carbon accounting and credits” model to a “carbon abatement” model.