Seed funding of €2 million has been received by Sunhat, a German software startup that automates the processing of sustainability questionnaires and ESG evaluations for suppliers. Leading the investment round are industry experts WEPA Ventures and Cologne-based early-stage investors Capnamic Ventures and xdeck Ventures. Furthermore, a number of business angels from the IT, sustainability and compliance domains have contributed to the enterprise software solution.
The goal of the seed money is to develop the technology and increase the range of products available to business clients. In addition to guaranteeing interoperability with all conventional systems, Sunhat works to create industry-specific connectors.
By considering essential sustainability criteria and rating system requirements, Sunhat establishes the framework for a common repository of compliant evidence for vendors. The business has persuaded a number of well-known companies, including the maker of hygiene paper, WEPA, to use its software solution.
Sustainability in the supply chain has become more complicated as a result of new laws like the Corporate Sustainability Reporting Directive (CSRD). Growth prospects are presented by the shifting market conditions for suppliers who specialize in evaluating and ranking supply chain sustainability.
As a result, sustainability specialists working in the supplier sector encounter a variety of surveys and certificates pertaining to sustainability standards from different suppliers. Clients and collaborators require solid proof and comprehensive reports on sustainable advancements, such as lowering greenhouse gas emissions or setting internal sustainability goals. In addition to potential future fines costing millions of dollars, failing to present the proof may result in significant financial losses, such as the severing of client connections.
Sunhat’s software solution can be very helpful for business-to-business (B2B) organizations that deal with various sustainability needs, such as suppliers, raw material merchants and producers of consumer goods.
