Amsterdam’s Dayrize raises €4M to help assess environmental & social effects of consumer goods

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Amsterdam-based Dayrize, a startup that has developed a sustainability assessment tool that can quickly assess the environmental impact of any consumer goods, announced on Monday, May 22, that it has secured £3.5M (approximately €4.02M) in funding.

The investment was led by Gresham House Ventures’ Thomas Makey and Matt Jones.

Besides the investment, Gresham House Ventures also helped Dayrize in appointing Andrew Anderson as Chair. Anderson will help guide Dayrize’s commercial strategy because of his experience in founding and scaling software companies as well as working with teams of first-time founders.

Anderson says, “This investment marks a pivotal moment in Dayrize’s evolution, validating our unique product suite and affirming our significant global potential.”

“The first sustainable impact measurement technology”

Founded in 2020 by Austin Simms and Bart Nollen, Dayrize brings product life cycle assessment transparency to the consumer market, allowing companies to confirm their sustainability claims and cut expenses, create new income, and increase brand value.

The company’s software platform and methodology combine a variety of data sources to produce a single, comprehensive product-level sustainability score. 

The score is comparable across product categories, as well as in-depth impact reports across five key sustainability dimensions – circularity, climate change, ecosystem impact, livelihood & well-being, and purpose – in under two seconds.

Austin Simms says, “Increasing regulation has put pressure on companies to be more transparent with the environmental and social impact of the products they make and sell. Measuring impact at the product level has traditionally been complex and expensive, and therefore not scalable for companies with large product portfolios.”

“The fully automated Dayrize software simplifies complexity and produces accurate results at a fraction of the cost of traditional methods.”

The company’s customers are some of the world’s largest consumer goods brands and retailers. Additionally, its software is also being integrated into the client service offerings of some of the leading consultancy firms.

How will the funds be utilised?

Dayrize says it will use the capital to expand its customer service capacity and develop its sales and customer success teams globally, with a particular emphasis on North America.

The funds will also allow Dayrize to capitalise on the ongoing shift towards transparency of environmental and social impact, with businesses becoming more conscious of measuring and reporting sustainability data due to altering regulatory and customer demands.

Gresham House Ventures’ Thomas Makey, says, “This investment will enable Dayrize to strengthen its offering to both existing and new customers internationally and aligns well with Gresham House’s expertise in managing innovative, impactful investments.”

“We have been very impressed with Dayrize’s rapid market penetration since launch, bringing several global brands on board, as well as the expertise of its management team.”

“We believe the business is poised to lead the way in helping consumer-facing businesses measure and improve the sustainability of their supply chains at a time when this is an increasingly significant consideration.”

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Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

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