Driving Sustainability Transformation in Businesses – Sunhat Extends Seed Round to EUR 5 Million
Cologne, February 27, 2024
Sunhat announced its Seed financing only in May 2023. Now,the startup is expanding it to 5 million euros through fresh capital from EnBW New Ventures and existing investors Capnamic Ventures, WEPA Ventures, and xdeck ventures. With the automation software already being used cross-industry by suppliers, retailers, manufacturing brands, and publicly traded corporations, Sunhat invests the new capital to support its rapid growth.
Synchronized sustainability data on demand
Companies are increasingly pressured to provide critical sustainability data for reporting, ratings, and customer inquiries, with demands rising for both qualitative and quantitative data.
"With 11,700 companies currently affected by reporting obligations, the number of indirectly affected suppliers and partners is already significantly higher. Eventually, all companies will be required to disclose their ESG data. With increasing requirements, a central system for the accurate transmission of this data is crucial," says Pascal Beckers, Principal at EnBW New Ventures.
Sunhat offers companies a flexible platform to map the multitude of sustainability requirements, manage associated projects, and fulfill necessary tasks. Sunhat focuses on making the existing data dynamically usable for different needs, establishing the software solution as a crucial tool for users
"The transformation to more sustainability is at risk of failing before it has even begun. Sunhat aims to drive the transformation by automating processes with AI-powered technology and significantly increasing the productivity of companies in meeting diverse requirements," explains Lukas Vogt, Co-Founder and CEO at Sunhat
AI-powered answers in seconds
Every incoming request in Sunhat is synchronized in real-time for all users and can be processed immediately. Using AI, the system understands complex sustainability requirements, matches them with existing quantitative and qualitative data points, and assists experts in generating answers in seconds.The new capital will now be used for further technological development and expansion of the sales and tech teams.
About Sunhat
Sunhat is a software startup that helps companies provide sustainability data on demand. By reducing the operational workload required for processes such as preparing answers, reviewing evidence, and collecting data, the software empowers businesses to save valuable time and resources and focus on their essential responsibilities. Founded by Lukas Vogt (CEO), Alexander Behr (COO), and Ali Kamalizade (CTO), the company is headquartered in Cologne, Germany.