Onlygood.ai Secures Seed Funding to Fuel Global Expansion

Onlygood.ai, a leading platform dedicated to simplifying carbon management and sustainability reporting for businesses, has announced a successful seed funding round of ₹4 crores ($500,000). The investment comes from key players including IIT Madras Incubation Cell (IITMIC), Goel Group of companies, and Daimler India Commercial Vehicles (DICV), with DICV securing rights to purchase a 1.5% equity stake.

Simplifying Sustainability for Businesses

Launched in early 2020, Onlygood.ai was founded to address the growing carbon emissions crisis. The platform simplifies the complex data businesses need to measure, track, and reduce their carbon footprints. By providing clarity on their environmental impact, Onlygood.ai empowers companies to make informed decisions about efficiency, risk management, and sustainability. Onlygood.ai offers end-to-end sustainability solutions with its world-class offerings, Decarb Navigator and Decarb X-celerator.

Following two years of extensive research and development, Onlygood.ai launched its beta platform in 2022 and quickly gained traction. The company partnered with industry leaders such as Maruti-Suzuki and DICV, where it was recognized for its groundbreaking sustainability innovations. These early successes paved the way for strong relationships with institutions like IITMIC and strategic partnerships with firms like NTT Data, Luminory Advisors, and Envex.

Fueling Global Expansion

The latest seed funding round, completed in August 2024, marks a pivotal moment for Onlygood.ai. The investors, IITMIC and Goel Group, were strategically selected to support the company's mission of advancing sustainability solutions. With this capital infusion, Onlygood.ai will expand its team, enhance product features, and bolster its technology infrastructure to scale globally.

Onlygood.ai plans to heavily invest in R&D, expanding its automation capabilities and data management tools to enable businesses to better track and manage their carbon footprints. The company will also strengthen its presence in India through partnerships with local integrators such as NTT Data, Blue Ocean Steel, and Envex, ensuring businesses receive tailored solutions that meet regulatory and sustainability needs.

Expanding Global Footprint

Earlier this year, the company opened its first international office in Dubai, laying the foundation for rapid expansion across the Middle East. In the coming months, Onlygood.ai is poised to enter the European market, further solidifying its global presence.

With the seed round completed, Onlygood.ai is already preparing for a Series A funding round, expected to launch in mid-2025. The company aims to raise $8-10 million to fuel its further expansion into Western markets, with a focus on enhancing product features and entering North America.

Beyond business growth, Onlygood.ai is deeply committed to social impact. The company proudly supports Shiksha Prayas, an educational initiative, and Reset Planet, a large-scale afforestation project aimed at restoring ecosystems in Northern India. This commitment to the environment and society underscores Onlygood.ai's ethos of building a greener, more sustainable future for all.

Join Our Thriving Entrepreneurial Community

Follow TICE News on Social Media and create a strong community of Talent, Ideas, Capital, and Entrepreneurship. YouTube  | Linkedin | X (Twitter) | Facebook | News Letters