10 Top Carbon Credit Startups in India

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The flurry of startups in the last three years in blockchain, artificial intelligence, machine learning, Web3 and a few others, have risen the world’s hope of a faster transition to a greener planet. F6S, the largest global startup network with 4.6 million members lists ten such startups in India that will help India’s march towards a greener nation.

F6S network works towards creating a global Founders’ community by organizing hackathons, accelerators and competitions. It is also a career portal that gives employers access to a large global network of professionals. Excerpts from its recent report:

TRST01 Prevents Green Washing

TRST01, a Hyderabad-based startup, started in 2019, provides a robust technology platform for end-to-end traceability with immutability. This is meant to ensure trust and transparency through the application of decentralized blockchain technology. It says, “It provides a tool for defining a single version of ‘truth.”

Its defined process and methodology on climate action could prevent the dreaded ‘green washing’ organizations resort to. With this tech, climate action becomes more transparent, making it easier for verification.

Tackling climate change requires a reduction in atmospheric carbon dioxide. These measures include sustainable agriculture practices, afforestation, and time to bridge the gap until farmers benefit financially. Payments for ecosystem services can encourage farmers to adopt more sustainable practices. Evolution Web3 also helps in creating awareness about climate change.

Continuum Research and Development – Affordable Charging Points

The Bengaluru-based startup, started in 2021, offers charging point operations at affordable cost for 4EW,3EW & 2EW in collaboration with leading Charging Point OEMs.

It is building a large aggregation platform of EV charging infrastructure which includes EV charging points, battery swapping and battery subscription service providers, to benefit the consumers with one stop solutions for all kinds of EV charging needs.

MistEO – Reduce Cost of Climate Change

A climate fintech company, founded in 2019, and based in Thiruvananthapuram, it provides climate change adaptation know-how to private enterprises and governments to reduce the cost of climate change. Its expertise Climate Economics and Actuarial Science is supported by Spatio-Temporal Analytics, Weather Modelling, AI/ML and Blockchain to deliver parametric risk transfer and climate financing products. 

It leverages technology and real-time analytics to accurately price risk and create new insurance products in agriculture and animal husbandry. Its platform automates the claim settlement process using historical, observed and forecasted weather data to track breaches of pre-defined contract conditions.

OffsetFarm – Finance for Climate Action Projects

Delhi-based OffsetFarm, founded in 2021, is a blockchain platform that catalyzes finance towards climate action projects. Through smart contracts, it makes investing in carbon offset projects, smooth and easy for retail investors. It generates SPROUT tokens for projects that have been certified by a recognized carbon standard. SPROUTs yield OFFSET tokens, over a project’s life, and are linked to the issuance of real carbon offsets. One OFFSET token represents 1 ton of CO2 equivalent reduced or removed. This token combination enables investing in SPROUTS in lower denominations and while retaining its ownership, be able to sell the OFFSETs to willing off setters.

Several climate action projects fail to take off due to lack of initial investments, and with no clarity on the carbon price. Moreover, double counting of offsets discourages market participants.

Farmex Agritech – Builds Portfolio Through Data Intelligence

Founded in 2022, based in Delhi, Farmex Agritech is a platform building, managing, and assisting farmer portfolios through digital technology and data intelligence. Its innovation is based on the syndication of data from agronomy, soil, farm, farmer, industry to generate precise, best fit, best practice recommendations for farmers. Each recommendation is coupled with information (what to do) and product (what to buy/use as Agri inputs), disseminated to farmers directly via WhatsApp/SMS/IVRS and indirectly via a Mobile App used by a network of decentralized trained agents.

Smallholder farmers are using this platform to connect all the dots in an agriculture value chain – advisory, markets and finance. The platform allows a complex farming ecosystem to be filtered into piecemeal steps (via recommendations) for use by farmers.

Farmex is a result of a decade-long work by the founders of eKutir. eKutir is India’s first Certified B Corp. It has led the way in developing data-driven, networked technologies to solve complex societal challenges. The firm is known for co-designing solutions with isolated and marginalized communities, primarily focusing on farmers. eKutir’s inclusive digital business has impacted farmers across 10 Countries. The founders of eKutir are Ashoka fellows and Social Impact fellows. 

Over the years, eKutir has received several awards, namely: (i) Grand Challenges India (circa 2014-16), which was co-sponsored by the Gates Foundation and Government of India, Facebook Innovation Award (2015), MIT Inclusive Innovation Award (2016). It was shortlisted by Microsoft as part of Social Impact Accelerator in 2020. It is a recipient of the Indo-US Entrepreneur (TiE) Transformative Social Enterprise of the Year award in 2021. 

Organic Ledger – Brings Trust in Organic

Founded in 2021 in Gurugram, The mistrust of sustainable and healthy Organic products is a huge problem and hence the reluctance of the buyers to pay premium pricing for products they can’t trust. Consumers are confused about the term ‘organic,’ even though it is one of the industry’s most regulated food labels. The Innovative tech of blockchain and IoT helps track every aspect of the organic product from its birth to its shelf. Customers and other stakeholders can scan the QR code on the pack and retrieve the database of its certifications and provenance to gain full confidence before buying the product. 

Organic Ledger envisages maximizing per acre value and makes every farmer traceable thereby helping create a market for verified agro produce. The farmer and producer need the market linkage for their good quality products. The firm helps create harmony and synchronization between cross-platform and stakeholder leverage. 

Green Pool – Carpooling Platform

Founded in 2015 in Chennai, is a SaaS-based Enterprise Carpooling platform.

Greenpool design philosophy is built on the solutions to critical problems facing carpoolers. It offers dynamic ride matching algorithm with user friendly features to Request/Offer rides, Search/select matches and settle money for the rides seamlessly. Its innovative on-boarding processes helps improve the trust factor among the users.

Its innovative SaaS Based Enterprise Carpooling platform can be set-up in a few minutes on a self-service platform. It provides a powerful dashboard to review, download the Carbon Foot-print Data, Fuel Import Saved, Total Shared Distance, Number of users carpooled, among other features.

Myplan8 – Measure Personal Impact

Founded in Mumba in 2022, it assists individuals to have a holistic view of their environmental impact. It is an app that revolutionizes the way we create a positive environmental impact. Its innovative and proprietary technology is said to be effortlessly bridging the gap between people and opportunities to do good for the environment.

A survey done in 2022 stated that 90% of people want to contribute to addressing climate change. But there’s a problem in a world that’s going through digitalization and moving online. This sector is still catching up and trying to figure out a holistic solution to engage this modern generation with a modern solution.

It has several tools to manage health, fitness, finances, and other aspects of living a simple and sustainable life. Myplan8 app with proprietary technology is filling this void and assisting individuals with a holistic view of tracking, reducing, and offsetting their carbon footprints effortlessly.

It’s ‘Green score’ automatically calculates users’ environmental impact based on their purchase or behavioral information. It allows users to create a flexible impact creation portfolio.

Real Forest – Monetize Carbon Credit

Founded in Bengaluru in 2020, Real Forest app is an agroforestry based social networking app, that digitizes the agro forest (Crypto Tree Carbon sequestration data) of farmers and landowners, by accessing the basic tree farming and forestry Co2e data digitally through mobile AI technology.

It helps farmers digitize their trees. It helps them have precise data on their trees’ health. It also helps with trading forest products with green initiators digitally through Carbon Credits DeFi system on a Crypto platform. It grants access of forest tree Carbon Credits to tree owners and connects them to financial institutions and carbon utilization industries.

Igloopupa – Connects Guests and Hosts for Sustainable Travel

Founded in 2018, the firm aspires to democratize sustainable travel by connecting guests and hosts on a web platform. It aggregates the two on an online platform for sustainable vacation rentals.

Igloopupa has devised a proprietary Sustainability Index calculation Method [SIM] which is one of its kind, qualifies and grades vacation rentals to onboard on its platform. It evaluates vacation rentals based on SIM before it is listed on its platform. It also grades vacation rentals in 5 levels. It creates and segregates podcasts based on tourist destinations and sustainable travel. It intends to create awareness among travelers about the impact of their choices on the planet.

Founder Aparna Vinod is also the CEO, and an advocate of environment-friendly sustainable lifestyle.

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