ENV supports entrepreneurs to develop new solutions for a sustainable future - people, planet, profit - by leveraging our financially driven VC setup with the reach and skills of the corporate investor EnBW. The startups that we invest in engage and scale with EnBW in its transformation towards becoming a sustainable and digital infrastructure operator.

EnBW New Ventures

We back Northern European companies with industry changing software and hardware solutions. The companies we invest in range from pre-seed to Series A, and have already built something tangible to back their bigger vision. We are especially excited about applications in robotics, AI and autonomous systems, connectivity, data processing and sensing technology, circularity, and biomaterials. Our initial investments range from 0,5–3M€, with additional capital available for the best performers via follow-on investments. As our fund's lifetime is longer than average, we are there to support our portfolio companies long-term. We invest both as lead investor and as a co-investor to ensure seamless collaboration with other investors.

Kvanted Ventures

As an independent pioneer in investing in financial industry players, New Alpha AM has been offering professional investors the opportunity to benefit from the growth and strategic innovation of the European Fintech sector through its Venture Capital funds since 2015. In November 2015, it launched the first French Venture Capital fund entirely dedicated to Fintech startups. The investment strategy focuses on early-stage European Fintech companies in inflection and acceleration phases (Seed and Series A). The Fintech investment team has been exclusively dedicated to this sector for over 8 years with an ambitious and structured ESG approach. Its expertise and specialization have allowed it to build one of the largest Fintech portfolios in France and to gain recognition within the European Fintech ecosystem. It has already taken 23 minority stakes in innovative Fintech startups due to their technology or business model (including Lydia, Digital Insure, Mobeewave, Inqom, GarantMe, SESAMm, and Lizy) and has already realized numerous exits. We have partnered with leading Venture Capital funds and significant industry institutions. Founded in 2004 and based in Paris, NewAlpha Asset Management is an asset management company specialized in sourcing, selecting, and managing alternative investments. It manages over 3 billion euros through absolute performance funds and Venture Capital. Its client base consists of more than 40 institutional clients from the French and international financial industry: public and private pension funds, insurance companies, asset managers, and banks. Its entrepreneurial DNA is reflected in its shareholder structure, which includes its employees and major financial institutions (Groupe La Française - a subsidiary of Crédit Mutuel Nord Europe, AEMA, and Natixis).

NewAlpha Asset Management VC

Cozero

Cozero believes that reducing the environmental impact of businesses alone is not possible. This represents an exciting opportunity for positive, collective change. Their Climate Action Platform presents their vision for a managed transition to a low-carbon economy, offering their confidence in helping companies take the necessary steps.

Germany-based Cozero is a digital carbon action platform that helps companies in high-emission sectors such as transport and logistics, media and printing, and others to effectively decarbonize and transform their business. The company’s Climate Action Platform (CAP) helps companies track, reduce, and report on corporate and product emissions. Cozero’s platform integrates with existing company systems, such as ServiceNow, SAP, TravelPerk, and others to connect data from ERP systems, energy management, travel, and other activities to provide automated climate insights for carbon accounting and climate management.

New technology allows individuals and organizations to become carbon intelligent

Carbon Management Software

Cozero raises €6.5M in Series A funding to advance climate ERP solutions — TFN

Maersk

Maersk partners with Cozero to enhance emission visibility for international e-commerce

Germany-based Cozero is a digital carbon action platform that helps companies in high-emission sectors such as transport and logistics, media and printing, and others to effectively decarbonize and transform their business. The company’s Climate Action Platform (CAP) helps companies track, reduce, and report on corporate and product emissions. Cozero’s platform integrates with existing company systems, such as ServiceNow, SAP, TravelPerk, and others to connect data from ERP systems, energy management, travel, and other activities to provide automated climate insights for carbon accounting and climate management.Key customers and partnershipsAs of April 2024, Cozero's platform helps more than 70 companies align environmental progress with business goals, including major players such as Maersk, Mammut, Nippon Express Europe (NX Group), Funke, and Vodafone.Funding and financialsThe company’s most recent funding was in April 2024, when it secured <a href="https://sp-edge.com/updates/28555">EUR 6.5 million </a>(USD 6.9 million) in Series A funding, co-led by Kvanted and ENV. The proceeds were used to fuel its international expansion and further develop its Climate ERP solution.

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 Circular IQ is a Netherlands-based digital platform that offers SaaS-based solutions for businesses to assess their circular performance through smart data-gathering and analytics. Circular IQ collects and analyzes supplier-specific data and provides tailor-made reports for businesses about the circularity of their operations.&nbsp;
 
 
 Circular IQ offers three main services 1) Circular Procurement Program, a service that monitors and reports the circular performance of a business&rsquo;s existing supply chain, 2) Product Circularity Improvement Program, a service in collaboration with KPMG to identify areas where the circularity of an existing supply chain can be improved, and 3) Circular Transition Indicators (CTI) Program, a service that supports and guides businesses through circular transition.
 
 
 Key customers and partnerships
 
 
 In March 2024, Circular IQ reported more than 2,000 CTI customer accounts in 94 countries. Microsoft, KPMG, Whirlpool, Saudi Aramco, Aptar, Rabobank, bp, Deloitte and Royal DSM were some of Circular IQ&rsquo;s high-profile clients.&nbsp;&nbsp;
 
 
 
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Circular IQ

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 Cloverly offers an API-based digital infrastructure for voluntary carbon markets (VCM). The Cloverly platform is used by both corporate buyers and project suppliers. Buyers can directly purchase carbon removal credits through its platform or integrate its technology into their products, services, or supply chains. Similarly, project suppliers leverage the Cloverly Marketplace and the supplier software, to manage commercial operations such as inventory management and tracking of carbon credit sales. The supplier platform offers carbon credits from suppliers including Therm, KOKO Networks and CarbonCure. For each carbon credit purchase, Cloverly produces a unique transaction receipt and certificate.&nbsp;
 
 
 Key customers and partnerships
 
 
 Leading companies such as American Express, Salesforce, Visa, have added Cloverly to their platforms to facilitate the purchase of carbon offset credits. The online gift card company, Instagift, also allows its customers to offset emissions through Cloverly. In November 2021, Clovery partnered with Diversifi to launch a service that offsets the crypto-carbon footprint. In May 2022, Cloverly also partnered with 
 <a href="https://sp-edge.com/updates/11507">
 BeZero Carbon
 </a>
 to obtain third-party ratings and independent quality assessments and 
 <a href="https://sp-edge.com/updates/11506">
 Redwood Logistics
 </a>
 to measure freight emissions and offset those via carbon credits in July 2022. In November 2023, the company also collaborated with Sustain.Life, a B2B carbon intelligence startup, to supply carbon credits. As of February 2024, the Cloverly platform was used by over 300 global enterprises.&nbsp;
 
 
 Funding and financials&nbsp;
 
 
 Cloverly&rsquo;s most recent funding was in May 2023, when it raised USD 19 million in a 
 <a href="https://sp-edge.com/updates/18533">
 Series A funding
 </a>
 round led by Grotech Ventures. In July 2021, Cloverly raised USD 2.1 million in a seed funding round led by TechSquare Ventures. As a part of the transaction, Cloverly was also spun out from Southern Company, an American gas and electric utility where it was incubated.
 
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Cloverly

UK-based Giki offers two mobile apps to reduce the personal carbon footprint of its users:Giki Badges is an app that allows users to find sustainable and healthy products in supermarkets through 15 unique badges to UK supermarket products based on sustainability, health, and fairness. Customers can scan the product barcode to find the badges that are being awarded to the product. Giki Badges reported awarding badges to over 280,000 supermarket products.Giki Zero is an app that allows users to calculate and reduce the personal carbon footprint. Giki Zero estimates the personal carbon footprint of a user based on a lifestyle survey (a set of detailed questions about the user’s lifestyle) and provides customized advice to reduce the user’s carbon footprint. Giki Zero Pro is an extension of the same product for businesses which allows employees to monitor and reduce their carbon footprint.Key customers and partnershipsIn April 2023, Giki partnered with <a href="https://www.compass-group.co.uk/media/news/compass-partners-with-social-enterprise-giki-to-empower-its-45k-strong-workforce-to-reduce-their-carbon-footprint/">Compass Group </a>, a UK-based food and support services provider, to calculate and reduce the personal carbon footprint of its employees. As of March 2024, Giki had worked with over 100 global customers, including NatWest Group, Federated Hermes International, BBC, Deloitte, Adobe and Accenture, among others.

Giki

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 Canada-based Metrio primarily offers SaaS-based Environmental, Social and Governance (ESG) reporting solutions for businesses. Metrio allows companies to monitor their ESG performance in real-time using dashboard tools to create customized reports based on any standard ESG framework. In addition to ESG reporting, Metrio also offers ESG industry benchmarking, supply chain ESG monitoring, and ESG investment management services.&nbsp;
 
 
 Key customers and partnerships
 
 
 In June 2022, Metrio was acquired by Nasdaq. After the acquisition, Nasdaq integrated Metrio&rsquo;s SaaS platform into its suite of ESG solutions. Metrio continued to remain an independent company and brand after the investment. 	
 
 
 As of January 2024, Metrio software was used by over 5,000 clients, including 100+ multinational companies across financial, food, manufacturing, retail, and transportation sectors. Major customers include Target, Air Canada, Decathlon, and Aldo.
 
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Metrio

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 Proof (formerly Proof of Impact) is an Impact-as-a-Service (IaaS) company based in the Netherlands. Proof offers a range of SaaS-based digital tools for businesses and investors to collect, verify, and analyze real-time sustainability data from community assessments, IoT devices, and corporate disclosures. The company also verifies and secures them using blockchain technology and presents them in a quantifiable form for sustainable decision making.&nbsp;
 
 
 
 
 Proof&rsquo;s services include: 1) Digital consultancy&ndash;digital assessments to create and deploy a company&rsquo;s sustainability strategy, 2) Impact dashboard&ndash;an end-to-end solution to collect, verify, analyze, and report sustainability data, and 3) Impact Catalyst Cloud&ndash;cloud-based tools and API solutions for tracking, verifying, and investing in sustainability projects. Proof also operates a marketplace for sustainability projects where investors may directly select, and fund verified sustainable projects.&nbsp;
 
 
 
 
 Key customers and partnerships
 
 
 
 
 In May 2023, the company 
 <a href="https://resources.proof.io/press-release-assetmetrix-and-proof-join-forces-to-offer-an-integrated-sfdr-focused-esg-solution-to-private-market-clients/">
 partnered
 </a>
 with AssetMetrix, a German-based next generation asset servicer, to offer an integrated solution for ESG data collection, reporting and optimization.&nbsp;
 
 
 
 
 Funding and financials
 
 
 
 
 Proof&rsquo;s most recent funding was in August 2022, when it raised USD 6 million in a 
 <a href="https://sp-edge.com/updates/12037">
 pre-series A funding
 </a>
 round led by Rakuten Capital. Previously in December 2021, the company raised USD 2.3 million in a seed funding round led by Altera Investments.&nbsp;
 
 
 
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Proof of Impact

Pure-play software solutions that measure, monitor, analyze, and report carbon footprints of internal business operations including ESG management and reporting software. Excludes supply chain and other Scope 3 carbon intelligence solutions.

Software for offsetting business carbon footprints including carbon intelligence startups that also offer offsetting solutions. Primarily includes instant offsetting services and carbon trading marketplaces.

Pure-play software solutions to measure, monitor, and analyze personal carbon footprints.

Software solutions to reduce, and offset personal carbon footprints including carbon intelligence startups that also offer offsetting solutions.

Pure-play software solutions that measure, monitor, analyze, and report carbon footprints from supply chains and other Scope 3 emissions.

Carbon trading marketplaces that allow individual and business users to buy and sell carbon offsets.

Solutions used improve carbon tracking transparency across internal and external business operations

Provides tools to monitor and offset CO2 emissions using reforestation, renewable energy credits, etc

Some carbon trading marketplaces are blockchain based (e.g., Nori)

Some carbon tracking companies use AI to measure and report CO2 emissions (e.g., Persefoni)

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 Cozero, a B2B carbon intelligence software provider based in Germany, has raised EUR 6.5 million (USD 6.9 million) in a Series A funding round. Kvanted Ventures and ENV were the co-leads of this round, with additional participation from NewAlpha Asset Management and various business angels.

 The funds raised through this round will be mainly used by the company to fuel its international expansion and to further develop its Climate ERP solution.
 
 Established in 2020, Cozero offers a Climate Action Platform which assists companies in tracking, reducing, and reporting their carbon emissions. Through this solution, over 70 companies have been able to marry their environmental progress with their business objectives. Companies that employ the solution include key players such as Maersk, Mammut, Nippon Express Europe (NX Group), Funke, and Vodafone.

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Cozero

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