EcoRatings Secures Funding to Drive Sustainability Solutions with AI

EcoRatings, a trailblazing cleantech startup, has secured $1 million (INR 8.3 crore) in a pre-seed funding round. This investment, provided by a consortium of prominent investors including We Founder Circle, 888 VC, Vinners, Indigram Labs Foundation, and Google, is a blend of equity and grant funding.

Plans for the Funding

Aditi Balbir, co-founder and CEO of EcoRatings, outlined the company’s strategy for utilizing the new capital. The funds will be directed towards acquiring premium data sources, expanding the platform’s token capacity, and introducing innovative multi-modal features.

Quantifying Sustainability with AI and Big Data

Established in 2023 by Balbir, Aqeel Ahmed, and Shruti Anand, EcoRatings leverages cutting-edge AI/ML and Big Data technologies to quantify the environmental impact of various products and services. The company’s methodology aligns with the United Nations’ 17 Sustainable Development Goals (SDGs) and Environmental, Social, and Governance (ESG) standards, catering to the growing consumer demand for transparent and sustainable products.

Gen AI Platform Empowers Sustainable Decisions

Emphasizing the platform’s unique capabilities, Balbir stated, “Our Gen AI platform empowers organizations struggling to meet their sustainability goals. This new investment will fuel the development of our advanced large language model specifically designed for the sustainability domain.”

Extracting Insights for Sustainability Action

EcoRatings’ platform analyzes vast datasets to provide real-time, accurate insights. By processing contextually relevant data from both internal and external sources, the platform generates valuable information. Their Unified Knowledge Platform, featuring a large language model with a Retrieval-Augmented Generation (RAG) architecture, is specifically designed to assist organizations in achieving their sustainability objectives. This comprehensive platform caters to a diverse clientele, including consultants, investment banks, large corporations, and aggregators, empowering them to make informed, sustainable decisions.

Domain-Specific Sustainability Expertise

With over 50 paying clients, EcoRatings positions itself as a frontrunner in the field of domain-specific large language models. Their unique selling proposition hinges on their sustainability-focused AI model, akin to ChatGPT but specializing in the sustainability sector.

Cleantech Innovation in India

Cleantech startups in India are emerging as pioneers in sustainable development, spearheading advancements without hindering the nation’s economic growth. These companies are making significant contributions in clean energy technologies, organic waste management, and air and water purification solutions, all contributing to India’s clean energy goals. Machine learning and data analytics are becoming increasingly important tools in this sector, facilitating the identification of emission hotspots, carbon footprint prediction, and optimization of operations for sustainability.

Recent Investments in Cleantech

Earlier in 2024, real estate-focused cleantech startup Accacia secured $6.5 million in pre-Series A funding. Additionally, AI-powered cleantech platform Sprih garnered $3 million in seed funding in March. Another cleantech startup, Recykal, offering cloud-based solutions for transparent waste management, secured INR 110 crore in a pre-Series B round.

Showcasing Sustainability Solutions

To bolster and acknowledge the efforts of cleantech startups in India, Startup Mahakumbh 2024 showcased a wide array of climate technology innovations with the potential to address the nation’s pressing climate challenges.