ImpactAlpha, October 19 – Ninety percent of grocers’ carbon emissions are tied to their supply chains and stem from the products they stock and sell. Long and complex supply chains make the environmental footprint of individual products hard to trace.
Austria-based Inoqo’s AI-based software is helping grocers map and manage their Scope 3 emissions by estimating products’ environmental impact using available, if inexact, data. Inoqo’s product assessments are based on ingredients’ likely countries of origin, production process, packaging and transportation.
The assessments provide conservative estimates until more specific product information becomes available.
Inoqo started as a consumer-facing service, then shifted its focus to retailers, like Norwegian online grocer Oda.
The company raised an undisclosed amount of funding from Triple Impact Ventures, family offices and angel investors.