Green logistics-focused startup shipzero announced today that it has raised €8 million (USD$8.7 million) in a Series A funding round, with proceeds from the financing aimed at supporting the company’s growth, and the expansion of the capabilities and reach of its transport emissions management platform.

Launched in 2018 by co-founders Mirko Schedlbauer and Tobias Bohnhoff, Hamburg, Germany-based shipzero helps shippers, logistics service providers and carriers to manage and reduce transport emissions, to support progress towards decarbonizing supply chains. The company’s core product, shipzero, enable the calculation and monitoring of logistics emissions across all modes of transport, with features including managed data collection, automated calculation of emissions data from all logistics activities, emissions reporting, logistics sites measurement to assess the carbon footprint of warehouses and transshipment facilities, benchmarking and analytics to compare the impact of trade lanes, fleets and transport partners, and partner management to request data from contractors.

Schedlbauer said:

“We experience a high level of interest in our product since shippers and logistics service providers need reliable data on their emissions to remain competitive. There is a growing conviction that our specialised solutions will become the standard. Emissions data will ultimately be shared across companies, evaluated comparably, and calculated by high standards.”

According to shipzero, the new capital will be used for accelerated international expansion, and for new emissions management features for its platform, including a new Book & Claim solution, which allows companies to claim the sustainability attributes of products used in transport, such as sustainable fuels, without actually using the sustainable products, but rather by paying a premium on the use of the product elsewhere.

Bohnhoff said:

“So far, the use of sustainable fuels has only been possible on certain transport routes, depending on location and availability. However, with Book & Claim, freight forwarders can bundle customer demand and refinance the targeted use of biofuels or alternatives. In return, their customers receive an independent emissions certificate that precisely records their exact emissions measure depending on the fuels used.”

The funding round was led by European sustainable venture capital firm ETF Partners, with participation from investors including Rethink Ventures, zu na mi and Raspberry Ventures.

Fabrice Bienfait, Senior Partner at ETF Partners, said:

“The industry is quickly shifting towards employing direct emissions data from trucks, vessels, and aircraft involved in the supply chain (referred to as primary data). shipzero stands out as a leading European company in managing emissions for the logistics sector, providing an unparalleled solution that leverages this accurate primary data and is at the forefront of moving the sector forward.”