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ClimateHound

AI-powered carbon footprint reduction for the food and beverage industry
Austin

About ClimateHound

ClimateHound is an AI-powered carbon accounting and emissions reduction software, purpose-built for the food and beverage industry. Our software saves companies thousands of hours of work and hundreds of thousands of dollars each year – and makes suggestions to reduce their carbon footprint.

So far, 90% of our customers have achieved carbon neutral certification and they are utilizing our tools to capture retailer shelf-space, grow revenue, and improve customer loyalty, among other goals and reporting requirements.

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Problem statement

The food and beverage industry generates 29% of global greenhouse gases. Regulatory systems with deadlines beginning in 16-months are expanding rapidly in both the U.S. and across the globe, as consumer pressures also continue to intensify. But, the first step is a tedious carbon footprint calculation traditionally requiring 570+ pages of documentation, 2,000 hours, and $185,000 annually for a full-time hire and costly data sets on. Companies are often reporting manually, which means spending all year on calculation and analysis, and they will still need another specialist to make the data actionable.

Regulatory details:

In March of 2024, the Securities and Exchange Commission (SEC) ruled that all publicly traded companies would have 12-months to report on climate-related risks and opportunities, and 24-months to report on Scope 1 and Scope 2 emissions. This is now tied up in litigation but expected to go through.

As of 4/2/24, sixteen U.S. states have implemented or scheduled an emissions trading system or carbon tax.

The EU has mandated climate-related financial reporting for all international companies with revenues over $100M that do business in EU territories, whether they are based there or not.

Traction information

(2024) - Our AI model, finely-tuned on proprietary supply chain data, and 200+ APIs have brought a 2,000 hour calculation process down to only 1 hour for most clients; prepared for TCFD-compliant reporting; access to 85% of U.S. utility provider's data; currently going to market!
(2023) - Beta tested and iterated on our software MVP with 9 paying customers; first $10K ARR; 8 companies achieved carbon neutrality
(2022) - Secured 6 paying launch partners out of 11 initial pitches; raised $300K in pre-seed funding

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Milestones

October 2024

Annual contract value (ACV) growth

Our three most recent contract sizes have grown from $2,000/yr to $4,600/yr to $6,400/yr, and we’re expecting $9,000/yr on a couple of top prospects progressing through the funnel.

August 2024

ClimateHound now hosts integrations with 85% of U.S. utility providers

This step has further accelerated the carbon footprint data collection process and also gives our clients access to real time data and insights on their electricity, natural gas, and water consumption.

June 2024

Capital Factory mentor, Rudy Mirran, joins ClimateHound's advisory board!

Rudy brings expertise to our team from his career working at the Director and VP-level of enterprise food and beverage companies including Pepsi Co and Compass Group, as well as immense expertise in contract negotiation and company growth.

May 2024

Fundraising: Our CFO, Lori Hines, joins the round!

Lori Hines has been our fractional CFO and an important part of our team since the earliest days of ClimateHound.

We are happy to have Lori join our seed round with a $50,000 investment.

March 2024

SEC Adopts Rules on Climate-Related Disclosure, Aligned to TCFD

The SEC has ruled that publicly traded companies have 12 and 24-month deadlines to begin reporting.

March 2024

TCFD-Aligned Reporting

ClimateHound is prepared to support TCFD-aligned reports, including a climate risk assessment.

February 2024

Franchise Support

ClimateHound software can now support franchises.

January 2024

Responsive Software

Our software is now responsive across all browser-enabled device types.

July 2023

Panel at Tales of the Cocktail

Palmer moderates a panel at Tales of the Cocktail, makes lasting industry connections, and generates $197K in opportunity leads.

March 2023

First $10K ARR

9 craft beverage launch partners; 8 companies have achieved carbon neutral 🧩

November 2022

Co-Founder and CTO

Palmer meets Jake McHargue while networking in Austin, TX, and they hit it off talking about opportunities for ClimateHound.

October 2022

Our annual contract value (ACV) is growing.

Our last three contracts have grown from $2,000/yr to $4,600/yr to $6,400/yr, and we’re targeting $9,000/yr on a couple of top leads.

September 2022

Pre-Seed Funding

Raised a $300K pre-seed at a $2.5M post-money valuation.

September 2022

First Podcast: Consuming the Craft

Palmer is interviewed by Jeffrey “Puff” Irvin, director of the Craft Beverage Institute of the Southeast, and they speak about his path to founding ClimateHound and the vision for the company.

https://podcasts.apple.com/us/podcast/drinking-for-the-climate-with-palmer-fox/id1455268247?i=1000580904713

August 2022

Proof of Concept

Landed 6 clients out of our first 11 pitches; carbon accounting was executed manually utilizing Google Forms and spreadsheets

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Funding

Currently raising capital

$375,000
committed
$1,500,000
round goal
Total raised to date:$675,000

Pitch deck

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