Sprint has joined forces with Main Sequence Ventures and Afterwork Ventures to invest in Avarni, a game-changing carbon management platform co-founded by Misha Cajic and Anuj Paudel. This strategic investment signals Avarni’s innovative approach to help companies measure, track and reduce their end-to-end carbon emissions.
Cracking the Code on Scope 3 Emissions
In a world where sustainability isn’t just a buzzword but a must-do, Avarni is making waves in climate-tech. Avarni tackles a big challenge for companies — how to deal with the complex task of measuring and reducing scope 3 emissions.
To clarify, Scope 1 emissions are direct emissions from sources owned or controlled by a company, like its facilities, while Scope 2 encompasses indirect emissions from purchased energy. Scope 3 emissions, however, extend beyond a company’s immediate control and cover the entire value chain, including transportation, product use, and the broader supply chain.
Avarni recognises the headache that these indirect emissions pose for businesses striving to be eco-friendly. The urgency to tackle this challenge arises not just from upcoming climate regulations in Australia, with mandatory carbon reporting starting as early as next year (read here for more info), but also from talking directly to businesses facing these challenges.
The word on the street is clear—there’s a real need for a simpler and more efficient solution, and Avarni is stepping up. As 75% of Australian companies aim for net-zero by 2050, the pressure is on, not just to follow the rules but to reshape how companies deal with the tricky world of climate reporting.
Avarni’s Secret Sauce: Supplier Mobilisation
Avarni distinguishes itself by placing a prime focus on supplier mobilisation, stepping away from the prevailing norm of automated emissions data management. Unlike competitors solely fixated on data automation, Avarni adopts a two-pronged strategy, also giving importance to involving and mobilising suppliers in the sustainability journey. This approach fills a gap in the market where others automate without actively engaging suppliers.
Now, let’s unpack why involving suppliers matters. In today’s interconnected business ecosystems, a company’s emissions stretch beyond its own operations to the entire supply chain. The impact of these emissions on a company’s carbon profile can be massive – sometimes making up to 65% to 95% of their total carbon footprint.
So, it’s crucial for companies to get suppliers actively involved, not just watching from the sidelines but playing an active part. Avarni doesn’t just talk about measuring emissions; they push suppliers to actively cut them down, creating a ripple effect that makes sustainability efforts more impactful. It’s not just a smart move; it’s a necessary strategy in the ever-changing landscape of climate reporting.
Avarni’s approach is backed up by strategic partnerships with industry giants like Schneider Electric and KPMG. These partnerships not only boost the company’s credibility, but also broadens their market reach and provides businesses with direct access to Avarni’s tools.
Founders Shaping Tomorrow
Behind Avarni’s innovative solutions are visionary founders, Misha Cajic and Anuj Paudel. From high school buddies to leaders in sustainable innovation, this dynamic duo brings more than technical expertise to the table; they share a profound passion for crafting impactful solutions.
Their entrepreneurial spirit and deep understanding of product management and tech innovation, gained from roles at Atlassian, WiseTech and Macquarie Telecom, set them apart. And as global mandatory climate reporting approaches, we believe Anuj and Misha are well-positioned to reshape how businesses navigate the intricacies of sustainability.
This investment isn’t merely an addition to our portfolio; it’s a front-row seat to the future of sustainable innovation led by two trailblazers whose vision aligns perfectly with the needs of our time.
At Sprint, we invest in Australia’s best opportunities. If you’re an early-stage or growth-stage founder, Sprint can help you secure investment and support your growth with leading industry advisors. Apply for funding and we’ll sprint with you.