Former Planetly Employees Use AI to Refine Carbon Accounting After Exit

Lessons Learned from a Disappointing Exit

In the world of startups, it’s not uncommon for employees to go on to found their own ventures, leveraging the experience and knowledge gained from their previous role. However, not all exits are created equal, and sometimes a less-than-satisfactory conclusion can actually fuel a founder’s passion even more.

A Familiar Story with an Unfortunate Outcome

The story of Forward Earth’s co-founders, Cari Davidson (CTO), Giuseppe Gentile (CPO), and Micha Schildmann (CEO), is a prime example. The trio was previously part of the executive team at Planetly, a carbon accounting startup that was acquired by OneTrust in late 2021.

The Disappointing Exit

OneTrust had touted the acquisition as a strategic move to invest heavily in Environmental, Social, and Governance (ESG) initiatives. However, less than a year later, Planetly was shut down, and its employees were laid off. The co-founders weren’t impressed by this outcome.

A New Venture Takes Shape

Armed with their experience and a shared sense of disappointment, the trio decided to start anew. This time, they took an AI-centric approach, aiming to tackle the same problem but for smaller companies – the "long tail" of businesses that often struggle to manage their carbon footprint.

A Seed Funding Round

Forward Earth has just secured €4.5 million in a seed funding round led by London-based Mosaic Ventures, with Speedinvest and European impact VC, Revent, also participating.

The Potential for Impact

According to Schildmann, "Our goal is to make it easier and more affordable for small businesses to measure and reduce their carbon emissions." By leveraging AI technology, Forward Earth aims to provide a user-friendly solution that’s accessible to companies of all sizes.

The Benefits of Failure

While the disappointing exit at Planetly might have been frustrating, it ultimately provided an opportunity for the trio to learn from their mistakes and start anew. As Schildmann notes, "Failure is not the opposite of success; it’s a part of it."

A New Path Forward

Forward Earth’s story serves as a reminder that even in the face of adversity, entrepreneurs can turn negatives into positives. By learning from past experiences and leveraging AI technology, they’re creating a new path forward – one that has the potential to make a significant impact on reducing carbon emissions.

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