Austrian greentech inoqo secures a 7-figure investment
Vienna-based SaaS startup inoqo has secured a 7-figure investment round after successfully pivoting to a B2B business model. The startup enables groceries to assess the environmental impact of their thousands of F&B products. The exact amount of the deal is undisclosed.
- Launched in 2020, inoqo offers a retail solution which enables grocery retailers, food and beverage (F&B) brands, and suppliers to calculate the socio-environmental impact of their product and supply chains.
- So far, the company partnered with ODA, Norways’ leading e-grocery retailer. inoqo enabled Oda to calculate the climate impact of over 6,600 F&B products, taking the product ingredients, composition, and all production and distribution processes into account.
“More than 90% of the carbon emissions of grocery retailers originate from the thousands of F&B products they sell. Consumers, investors, their employees and regulators are requesting them to swiftly join the race to net-zero emissions. With our inoqo platform we provide them with a fly-wheel that enables them to communicate the impact of their products to consumers,”Markus Linder, inoqo’s Founder and CEO, explains.
- After the strong pivot to a B2B business model, inoqo successfully closed a 7-figure round, with support from prominent family offices and angel investors. The list includes Christian Kaar, co-founder and former CTO of Runtastic, Heinz Hahn, former President FMCG of Mondelez, Felix and Susanne Porsche, Daniel Zech, as well as Triple Impact Ventures.
- inoqo does not disclose other details of the deal. However, the company’s founder Markus Linder is best-known for his first startup, Zoovu, which managed to raise more than €200 million over the years.