CarbonQuota, the Carbon Disclosure Project partner which provides businesses with end-to-end insight to measure, reduce and disclose their scope 1, 2 and 3 emissions, has signed an agreement that sees Codex Capital Partners invest in the business, take a minority shareholding and take a place on the board.
Guy Strafford, who invested in the business in April 2022, will remain as chairman alongside co-founders Dominic Harris and Nathan Tiller, who will maintain the majority stake.
CarbonQuota won one of the Image Reports Angel Awards at the end of 2022 for its collaboration with Tharstern on a tool that allows PSPs to provide instant carbon footprints on every quote and invoice – automatically – using their own in-house data.
CarbonQuota works with businesses across the value chain in the fast moving consumer goods (FMCG), media and logistics sectors – which, according to ONS data, account for around one third of the UK’s carbon footprint – including procurement organisations, logistics, manufacturers of product, and producers of raw materials. Automation through online platforms allows businesses to baseline and build de-carbonisation plans using data from the ground-up, providing very precise and scientific calculations.
Harris said: “We identified that most large corporations needed better ways to collaborate with their value chains and deliver against Net-Zero plans. The foundation of our growth is the unique combination of sector knowledge, pursuit of scientific granularity, and automation through technology. This investment from Codex Capital enables us to further invest in technology, people and our client relationships.”
Jamie Lawson-Brown, co-founder of Codex Capital, added: “CarbonQuota has already landed some incredible marquee clients with a number of others expected to be signed early in 2023. The company is very well positioned for growth due to its relentless focus on detail. Leading businesses have realised that robust, granular data is not only the way to demonstrate to customers, shareholders and employees that they are meeting their Net-Zero goals, but a way to facilitate faster top-line growth within their business.”
