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Green Story raises €1.1m, led by 4impact, to empower consumers to know their impact
As the fashion industry is responding to demands for transparency, Green Story is the pioneering solution empowering 1 billion consumers to know their impact and make greener choices.
Amsterdam, Netherlands. The fashion industry is under pressure to address the environmental damage it causes. Green Story has raised €1,1 million, with 4impact as the lead investor, to empower consumers to make better choices and to help fashion brands achieve a more sustainable way of doing business. Green Story is a platform that enables fashion brands to measure and communicate the positive impact of their products in a credible and relatable way, and also make them carbon neutral by offsetting unavoidable emissions.
The challenge
According to McKinsey, the fashion industry emits approximately the same quantity of GHGs per year as the entire economies of France, Germany, and the UK combined. Traditional practices have proven to have a negative impact on our planet, and consumer sentiment has changed. Consumers are demanding sustainability and deeper transparency. Furthermore, global anti-greenwashing legislation is emerging, requiring that brands provide proof of their sustainability claims. Most fashion brands don’t know where to start.
This is where Green Story comes in
Green Story is working to achieve an ambitious vision of empowering 1 billion consumers to know their impact and make choices that are better for the planet and for generations to come. Green Story does this by supporting fashion brands to measure and share with their customers their environmental and social impact. This enables the brands to become more sustainable in the way in which they do business. Green Story has raised €1,1 million, with 4impact as the lead investor, to accelerate the growth of the business and move closer towards this goal.
Akhil Sivanandan, Co-founder, Co-CEO and CCO of Green Story: “We hope to set new standards in the industry, providing accurate data and a bigger focus on transparency and credibility. For our customers, we aim to support them in turning sustainability into a growth driver rather than a compliance measure.”
About Green Story
Green Story is a sustainability platform that enables fashion brands to measure and communicate the positive impact of their products in a credible and relatable way, and make them carbon neutral by offsetting unavoidable emissions. By combining Life Cycle Assessment (LCA) methodology with interactive data and impact visuals, and carbon offsetting platform, Green Story enriches the customer experience with a brand’s sustainability narrative throughout the customer lifecycle, enhancing transparency and educating consumers to understand the impact of the product they buy. At Green Story, they believe that we all want to do the right thing but we need to know, and feel, the positive impact we’re making.
Already Green Story has achieved tremendous impact. By the end of 2021, the company had enabled 1.4m carbon neutral products and offset 100M+ kg of, equivalent to 12,000 homes powered. Green Story partners with hundreds of sustainable fashion brands including renowned material science company PANGAIA, leading second-hand platform thredUP, pioneering rental platform Rent the Runway and multinational clothing company Hanesbrands.
Navodit Babel, Co-founder and CTO of Green Story: “We designed the Green Story solution to make it easy for our customers, the fashion brands, to calculate and share their sustainability credentials. By using relatable data points and measurements, we support our customers in communicating to end consumers, guiding their understanding of the positive impact of sustainable products.”
4impact on Green Story
“Every fashion brand that has a sustainability story wants to tell its customers, but it’s not always easy to do this without risking being caught by greenwashing regulations. A credible third party that delivers a robust measurement and communication tool is a hugely valuable service for the fashion retailers", says Kate Mullord, partner at 4impact capital. "We are excited to support Green Story’s growth plans, as they build on their world-class expertise in Life Cycle Analysis, expand the communication toolkit for their customers and ultimately drive change in the fashion industry. Akhil and Nav bring enormous integrity and professionalism to their business and we are pleased to be able to contribute our resources and expertise to their mission."