The carbon management platform raises $500,000 in a seed round, led by IIT Madras Incubation Cell and Daimler India, to fuel its expansion into the Middle East and Europe.
Onlygood.ai, a platform simplifying carbon management and sustainability reporting for businesses, has successfully secured ₹4 crores ($500,000) in seed funding.
The funding round included investments from IIT Madras Incubation Cell (IITMIC), the Goel Group of companies, and Daimler India Commercial Vehicles (DICV), with DICV acquiring the option to purchase a 1.5% equity stake.
This funding is expected to drive the company’s expansion across India, the Middle East, and Europe later this year.
Founded in 2020, Onlygood.ai focuses on helping businesses reduce their carbon footprints through its innovative platforms, Decarb Navigator and Decarb X-celerator.
After launching its beta platform in 2022 and gaining early traction with industry leaders like Maruti-Suzuki and DICV, Onlygood.ai has formed strategic partnerships with institutions including NTTData and Envex, a carbon exchange platform.
This latest investment will enable the company to grow its team, enhance its technology infrastructure, and broaden its reach into new markets.
CEO Rajeev Sinha emphasized that the support from key investors validates the company’s vision of delivering impactful sustainability solutions globally. The company is also preparing for a Series A funding round in 2025, aiming to raise $8-10 million to fuel its entry into Western markets.
Beyond its business ventures, Onlygood.ai is committed to social responsibility, supporting initiatives like Shiksha Prayas, an educational program, and Reset Planet, a reforestation effort in Northern India. These initiatives reflect the company’s broader goal of fostering a sustainable future.