Planet FWD

Planet FWD is a carbon-assessment platform for the food and beverage industry that helps consumer brands calculate their carbon footprint. The company enables businesses to measure and reduce the carbon footprint of their products and corporate activities.

In December 2020, the company launched its first carbon-neutral product made from ingredients derived using regenerative agriculture practices, under the brand Moonshot Snacks. In March 2023, this brand was acquired by Patagonia Provisions, the F&B division of Patagonia.

In October 2023, Planet FWD launched its proprietary, AI-powered decarbonization platform that models granular emissions throughout a product’s life cycle. The platform also provides company-wide emissions data to identify overall carbon reduction actions in one platform. This tool conducts a custom Life Cycle Assessment (LCA) by using AI and ML for customers to analyze product, menu, or ingredient-level emissions. Planet FWD's technology measures Scope 3 emissions using an API that integrates customer data and predictive modeling to decarbonize supply chains. In addition, the platform has metrics relating to water usage, land use, and Forest, Land, and Agriculture (FLAG)-related emissions.

Key customers and partnerships

Planet FWD has partnered with brands including PANGAIA, Simple Truth, Healthy Hippo Kiki Milk, and Moonshot Snacks (Planet FWD's sister company) to offer carbon-neutral certification for their products. In addition, the company assisted brands such as Just Salad, Numi Organic Tea, Blue Apron, Kashi, Toodaloo, Sweet Lorens, and Healthy Hippo to create carbon-labeled menus and products. The company also has plans to enter the broader consumer goods industry—from fashion to beauty and personal care.

In June 2021, Planet FWD acquired CleanMetrics’ LCA/GHG tools, databases, and technologies to scale its product offerings. In July 2023, Planet FWD partnered with Ritual to conduct LCAs measuring the carbon footprint of the latter’s products. In October 2023, the company collaborated with Patch to gain access to global climate projects that reduce carbon emissions through the latter’s Radius platform.

Funding and financials

The company’s latest funding round was in May 2022, when it raised USD 10 million in a Series A round co-led by Acre Venture Partners and Congruent Ventures. The funding was reserved for the company’s data development and expanding its climate science team.