Carbon Quota plans to increase its headcount, accelerate development of software and consolidate its position in print and packaging sectors following an investment from Codex Capital.
The company, which promotes scientific and evidence based methods to measure the carbon element in printed products, is poised to expand across other sectors, including logistics.
The company secured the investment despite the uncertainty in UK capital markets following swift changes in residents of Downing Street. The appeal has been the way that Carbon Quota has been able to measure carbon elements in production and use this to calculate the carbon cost of any product.
This has attracted what Codex Capital cofounder Jamie Lawson-Brown calls “some incredible marquee clients with a number of others expected to be signed early in 2023”.
The approach from Carbon Quota is in line with a rapid expansion of interest in carbon measurement along complete supply chains from major brands and all manner of businesses in the public eye. They simply cannot afford to be found wanting.
Carbon Quota cofounder Dominic Harris says: “We identified that most large corporations needed better ways to collaborate with their value chains and deliver against net zero plans. The foundation of our growth is the unique combination. There are big opportunities that we are working on at the moment.
“The fact that we secured the funding despite the low levels of activity in the funding markets shows that ESG is the number one priority in our sector.”
The size of the investment is not being made public, but it will lead to Codex receiving a seat on Carbon Quota’s board and gives it a minority stake in the business.
It follows an investment nine months ago by Guy Strafford, now chairman, following the sale of his Proxima business to Bain & Co.
The company started in print and publishing, expanding into packaging last summer. Expansion into other verticals can be anticipated. Plans to recruit and expand the business will add expertise in these new areas to find people that know what we are talking about, says Harris.
This does not mean that it is cutting back on print and publishing. Announcements are anticipated in the next few weeks.
