Esgrid, a Tallinn-based startup that provides value chain sustainability management solutions, has secured €500,000 in funding. Lemonade Stand, EstBAN, Startup Wise Guys, and Little Green Fund are among the investors, as Tech.eu reports.
- Founded in 2023, Esgrid provides value chain sustainability management solutions for medium-sized enterprises and financial institutions. The company has developed a platform that helps businesses assess, manage, and improve their value chain sustainability impact, ensuring compliance with ESG standards.
- Esgrid launched publicly in December and won a €150,000 syndicate investment award from EstBAN at sTARTUp Day in January 2024. The company is targeting the medium size enterprise market, a business subset who are most likely to be impacted by the costs of their value chain sustainability management.
We are probably one of the first who are trying to utilise AI in sustainability fields. We offer full AI-supported assistance for value chain companies. We are also preparing to launch our first enterprise AI assistant for enterprise customers that helps get actionable information from collected ESG data,
Oksana Tolmatšova, CEO and co-founder, said.
- Recently, Esgrid launched a free tool for SMEs, the ESG self-assessment. It helps any company, to receive an ESG health report on their progress, data sharing with partners on the Esgrid platform, support and guidance at every step of the assessment. Now, over 100 companies uses ESG data on the platform.
- The pre-seed round’s investors are Lemonade Stand, an early stage tech VC firm in the Baltic and East European founders, Estonian Business Angels Network (EstBAN), Lithuanian Startup Wise Guys, and the Tallinn-based angel group Little Green Fund.
- Several angel investors, including Alvar Lumberg, Kairi Pauskar, Kair Käsper, and Martin Kõiva, also participated in the funding.
With the new funding, Esgrid will continue to build accessible value chain sustainability management tools.
