Onlygood Secures Rs 4 Crore in Seed Funding for Sustainability Efforts
Gurugram-based sustainability platform Onlygood has received Rs 4 crore (approximately $500,000) in seed funding, backed by IIT Madras Incubation Cell (IITMIC), Goel Group, and Daimler India Commercial Vehicles (DICV). The investment gives DICV a 1.5% equity stake in the company.
Onlygood plans to utilize the funding to scale its operations in India and the Middle East, with plans to expand into Europe in 2024. The company aims to enhance its team, product features, and technological infrastructure using the funds.
Founded in 2022 by Rajeev Sinha and Vivek Mehra, Onlygood focuses on addressing the growing carbon emissions crisis through innovative solutions. Its platform helps businesses measure, track, and reduce their carbon footprint, enabling informed decisions on efficiency and sustainability. Key offerings include Decarb Navigator and Decarb X-celerator.
Since launching its beta platform in 2022, Onlygood has partnered with industry leaders such as Maruti-Suzuki and DICV, gaining recognition for its sustainability initiatives. The platform provides compliance with carbon regulations, generates reports in formats like BRSR, CSRD, and CBAM, and features auto-hooks for compliance and a strategic tool to guide companies through their decarbonization journeys.
Onlygood’s vision is to provide real-time product traceability across supply chain touchpoints, working with partners like Blue Ocean Steel and Envex to deliver comprehensive sustainability solutions.
Onlygood’s funding round marks a significant milestone in its mission to drive sustainability and reduce carbon emissions. With this investment, the company is poised to accelerate its growth and expansion in the market.
