Redigo Carbon is Warsaw-based cloud-based sustainability platform offering a comprehensive suite of tools for effective carbon assessments and future planning. With use of ML technology the platform analyses customers' past and current emissions data and visualises their path to carbon neutrality. Redigo was founded in 2022 by Magdalena Stelmach and Tangi Coatanea.

In the Startup of the Day column, Magdalena Stelmach, CEO and Co-founder, shares the details about the startup’s idea, its product, and future plans.

The Startup of the Day column on AIN is dedicated to tech projects from all sectors that originate from the CEE countries. If you would like to introduce your project, please fill in the questionnaire.

Tell us about your startup. How does it work?

Redigo Carbon is designed to help businesses of all sizes manage and reduce their carbon footprint effectively. It starts with seamless data collection and integration—either manually or through APIs—making it easy to gather emissions data. The platform then uses advanced algorithms to calculate the carbon footprint across scope 1, 2, and 3 emissions, providing a detailed view of where emissions are occurring.

With reporting and compliance tools that meet international standards like GHG Protocol and ISO, businesses can easily meet regulatory requirements. The platform also offers scenario planning to explore various emission reduction strategies, helping companies make informed decisions about investments in sustainability.

A feature we're excited about is our upcoming marketplace, which will allow businesses to find and purchase green technologies or carbon offsets. Additionally, the Net Zero Roadmap will help users set and track progress toward net-zero emissions.

Overall, Redigo Carbon streamlines sustainability efforts, making it easier for businesses to achieve their environmental goals while maintaining operational efficiency.

How did you come up with the startup’s idea? What was the reason/motivation behind it?

A few years ago, I was living in the UK, where I was developing my career in business development for telecommunications companies. However, I have always been privately interested in sustainability, and there were times when I went straight from the office to climate protests or to animal rescues, where I volunteered.

Through this work, I met many people in roles such as sustainability managers and at the same time, I noticed a recurring problem: the enormous difficulty in creating non-financial reports, which significantly hampered strategic decision-making in large organizations.

This is how the idea for Redigo Carbon was born. I invited my business partner to join the project, bringing his IT experience and knowledge to complement my business approach.

How long did it take to reach the prototype or MVP? What did you encounter?

It actually took us about 6 months to develop the MVP for Redigo Carbon. We’re a team of perfectionists, so even though we moved quickly, we made sure not to cut any corners. Our goal was to build something robust and genuinely useful for businesses right from the start.

In those early months, we dove deep into research and planning. We spent a lot of time talking to potential users and industry experts to understand exactly what businesses needed to manage and reduce their carbon footprint. We didn’t just want to create a functional platform; it had to be scalable, user-friendly, and capable of handling the complexities of sustainability data.

Of course, being perfectionists meant we faced our fair share of challenges. One of the biggest was integrating various data sources. Businesses often have different systems for managing their energy use, supply chains, and operations, so bringing all that data together in a seamless way was no easy task. We were also very focused on getting our carbon accounting right, ensuring our algorithms could accurately calculate emissions across different scopes.

The user experience was another area where we put in a lot of effort. We wanted the platform to be intuitive, even for those who aren’t experts in sustainability. Striking the right balance between powerful features and ease of use was key.

We also made sure our platform was aligned with international standards like the GHG Protocol and ISO, which required us to stay on top of evolving regulations and ensure our reporting features were fully compliant.

By the end of those 6 months, we had a functional MVP ready for early adopters. This phase was crucial because it allowed us to gather real-world feedback and make adjustments before the full launch. Even though we moved quickly, our perfectionist approach helped us build a platform we’re really proud of—one that’s already helping businesses make a real impact in reducing their carbon footprints.

When exactly did you launch your product? Or when the launch is planned?

We officially transitioned into the commercialization phase just over a month ago. This marked a significant milestone after months of rigorous development and testing. However, before this public launch, we conducted a pilot program with PKO BP, one of the largest banks in Poland. During this pilot, some of their business clients were given early access to our platform.

The pilot has been very successful and has provided us with invaluable insights into the specific needs and challenges faced by our customers. It allowed us to refine our platform, ensuring that it not only meets but exceeds the expectations of businesses looking to manage and reduce their carbon emissions. The feedback we received from PKO BP and their clients has been instrumental in shaping the final product, and we’re excited to bring these enhanced features to a broader market now that we’ve entered commercialization.

Tell us about the startup’s business model. How do you monetize your product?

Redigo Carbon operates on a subscription-based business model, which is designed to be flexible and scalable to meet the varying needs of our customers. Here’s how we monetize our product:

  • Self-Service Plan - This is our entry-level offering, ideal for small businesses or those just starting on their sustainability journey. It includes basic features such as manual data entry, carbon footprint calculation for Scope 1 and 2 emissions, and access to our marketplace. This plan is designed to be affordable and accessible to businesses of all sizes.
  • Basic Plan - This plan includes everything in the Self-Service tier but adds automatic data collection, support for Scope 3 emissions, and more advanced reporting capabilities. It’s suitable for mid-sized companies that need a bit more functionality and automation.
  • Pro Plan - This is our most comprehensive offering, tailored for large enterprises or organizations with complex needs. It includes all features from the Basic Plan plus unlimited users, enhanced reporting, scenario planning tools, and a dedicated account manager. This plan also allows for customization based on specific business needs.

Marketplace Transactions: In addition to subscription fees, we monetize through transactions made on our integrated marketplace. Businesses can purchase carbon offset credits, green technologies, and other sustainability-related products directly through our platform. We earn a commission on these transactions, providing an additional revenue stream.

Consulting Services: For companies that require more hands-on assistance, we offer consulting services to help them develop and implement their sustainability strategies. This includes everything from setting up their Net Zero Roadmap to integrating advanced data collection systems. These services are billed separately, either as one-time fees or ongoing retainers.

Pilot Programs and Custom Solutions: We also engage in pilot programs, such as the one we conducted with PKO BP. These pilots not only help us refine our platform but also generate revenue through initial setup fees and specialized support services. If these pilots are successful, they often lead to long-term contracts and expanded service offerings.

This multi-faceted business model ensures that we can provide value to a wide range of customers, from small companies to large enterprises, while also sustaining and growing our operations. By offering flexible subscription plans, earning commissions through our marketplace, and providing tailored consulting services, we’ve created a sustainable path to profitability that aligns with our mission to help businesses reduce their carbon footprint.

What are your target markets and consumers?

Redigo Carbon is designed to cater to a wide range of businesses, all focused on measuring, managing, and reducing their carbon footprint. Our platform is versatile enough to meet the needs of different types of organizations, but we primarily focus on a few key markets.

  1. First, we target large enterprises. These companies often deal with complex supply chains and larger carbon footprints, making comprehensive carbon management tools essential. Our platform offers the scalability and detailed insights that sustainability directors, compliance officers, and C-level executives need to meet stringent regulatory requirements and stay on top of their ESG (Environmental, Social, and Governance) reporting. For these businesses, Redigo Carbon provides the advanced capabilities necessary to navigate the intricacies of sustainability management on a large scale.
  2. Next, we focus on small to medium-sized enterprises (SMEs). These businesses are increasingly under pressure to align with sustainability goals, whether from regulatory bodies or customer expectations. Many SMEs may not have the in-house expertise or resources to tackle carbon management independently, which is where our platform truly adds value. It’s designed to be user-friendly and cost-effective, making it ideal for business owners, sustainability officers, or operations managers who need straightforward tools to achieve their environmental objectives without a steep learning curve.
  3. We’re also keenly focused on financial institutions, such as banks and investment firms, which are increasingly integrating ESG criteria into their investment strategies. These organizations need reliable tools to assess the carbon footprint of their portfolios and ensure they’re making sustainable investments. Our platform provides the data and insights that portfolio managers, ESG analysts, and risk management teams require to make informed decisions that align with their sustainability mandates.
  4. Supply chain managers represent another critical audience for Redigo Carbon. Companies with extensive supply chains need to track emissions across their entire network of suppliers, and our platform helps them do just that. Whether in manufacturing, retail, or logistics, supply chain managers and procurement teams can use our tools to ensure their operations are both sustainable and compliant with environmental regulations.
  5. Environmental and sustainability consulting firms also find great value in our platform. These firms can use Redigo Carbon to enhance their service offerings, providing more accurate and actionable insights to their clients. Consultants and advisors focused on sustainability will appreciate the depth of data and analysis our platform provides.
  6. Finally, we’re also supporting the public sector and non-profit organizations. Government agencies, municipalities, and non-profits are increasingly focused on reducing their environmental impact, and our platform helps them manage their carbon efforts more effectively. Whether it’s environmental program managers, policymakers, or sustainability coordinators, our tools are designed to support their critical work.

In essence, we’re empowering a diverse range of organizations to take meaningful action toward sustainability, ensuring our platform delivers value across multiple industries and sectors.

If the startup has already launched the product, what are the results: metrics, income, or any clear indicators that can be evaluated.

Since we launched just over a month ago, Redigo Carbon has made notable progress and is steadily gaining traction in the market. While it’s still early, the positive momentum we've experienced is encouraging and reinforces our platform’s potential.

A significant part of our early success has been our pilot program with PKO BP. We’re genuinely appreciative of the opportunity PKO BP has given us. Their collaboration has provided us with valuable real-world validation and insights that have helped us refine our platform.

We also recognize the importance of PKO BP’s role in supporting sustainability efforts. By partnering with Redigo Carbon, they’re not only helping their business clients manage and reduce their carbon footprints, but they’re also contributing to a broader effort to protect the environment. This partnership highlights how financial institutions can play a crucial role in driving positive environmental change.

As we continue to grow, we remain committed to building on this foundation, guided by the insights and support we’ve received from PKO BP and our other partners.

What about your team? How many people are working in the startup? If you’re looking for new employees, indicate whom exactly.

Currently, our team at Redigo Carbon is made up of ten dedicated individuals, each bringing their own unique expertise and passion to the table. We also have the support of several experienced advisors who help guide our strategic decisions and ensure we’re on the right path.

As we’re growing rapidly, we’re actively looking to expand our team. In the near future, we plan to hire several more experts, particularly in areas like software development, data science, and sustainability consulting. We’re looking for individuals who are not only skilled in their fields but also share our commitment to making a real impact on the environment. If you’re passionate about sustainability and want to be part of a dynamic, forward-thinking team, we’d love to hear from you!

Have you already raised any investments? Provide us with more details on each funding round: the amount, investors, the purpose of the investment.

The journey of Redigo Carbon's funding has been instrumental in shaping the platform into what it is today. It all started in October 2022 with an angel round where several investors came together to contribute a total of €70,000 (PLN 300,000). This initial funding was crucial as it allowed us to kickstart the development of Redigo Carbon, helping us build our first prototype and MVP. With these funds, we were able to cover essential early-stage expenses like product development, market research, and forming our initial team.

Just a month later, in November 2022, we secured a significant investment of €280,000 (PLN 1.2 million) from Invento, a venture capital firm. This investment played a key role in driving our research and development efforts. With Invento’s backing, we were able to enhance the core functionalities of our platform, refine the algorithms that are central to our carbon calculation processes, and ensure that the technology we were building was both robust and scalable. This phase laid the groundwork for the advanced features that have become a key part of Redigo Carbon’s value proposition.

Fast forward to February 2024, we received a €58,000 (PLN 250,000) convertible loan from a high-profile angel investor. This investment came at a crucial time, providing us with the flexibility we needed to continue our operations and development efforts without losing momentum. It acted as a bridge, sustaining us as we prepared for a larger funding round planned for the end of this year.

Now we are working on another round of funding that will help us develop our platform by increasing the capabilities of our marketplace and growing our team, and thus to scale dynamically in the Polish market and abroad.

Each of these funding rounds has been a pivotal step in our journey, providing us with the resources necessary to build, refine, and scale Redigo Carbon. These investments have aligned perfectly with our mission to help businesses achieve their sustainability goals in an efficient and effective manner.

What’s next? Tell us about your future plans.

Looking ahead, our vision for Redigo Carbon is to significantly scale our operations and deepen our impact on global sustainability efforts. We’re committed to expanding our marketplace, which will include a broader range of green technologies and carbon offset projects, making it a comprehensive resource for businesses aiming to reduce their carbon footprint.

In addition to broadening our market offerings, we are gearing up for international growth. We believe that the need for effective carbon management tools is global, and we’re working on entering new markets while ensuring our platform meets the unique regulatory and operational needs of businesses in different regions.

Enhancing the capabilities of our platform remains a top priority. We’re focusing on integrating advanced analytics, AI-driven insights, and more automated processes, which will empower businesses to make smarter, data-driven decisions about their sustainability strategies. We’re also actively pursuing strategic partnerships with organizations that share our commitment to sustainability, which will help us reach a wider audience and amplify our impact.

As we continue to grow, we’re preparing for a major funding round at the end of the year. The capital raised will accelerate our expansion plans, enabling us to scale our team, enhance our technology, and strengthen our market presence both locally and internationally.

Ultimately, our future plans are driven by a desire to not only help businesses navigate the complexities of carbon management but also to lead by example in the broader movement towards global sustainability. We’re excited about the opportunities ahead and confident that Redigo Carbon will play a pivotal role in shaping a more sustainable future for businesses worldwide.