Onlygood.ai, a platform specializing in carbon management and sustainability reporting, has successfully raised Rs 4 crore (approximately $500,000) in a seed funding round. The round was co-led by IIT Madras Incubation Cell (IITMIC), Goel Group, and Daimler India Commercial Vehicles (DICV), with DICV acquiring a 1.5% equity stake in the company.

The funding will be used to scale Onlygood.ai’s operations in India and the Middle East, with plans to expand into Europe in 2024. The company intends to bolster its team, enhance product features, and strengthen its technological infrastructure to support its growing user base and global reach.

Founded in 2022 by Rajeev Sinha and Vivek Mehra, Onlygood.ai offers innovative solutions for businesses to measure, track, and reduce their carbon emissions. The platform’s flagship products, Decarb Navigator and Decarb X-celerator, provide critical tools for companies aiming to optimize efficiency and sustainability in line with global carbon regulations.

Since launching its beta version in 2022, Onlygood.ai has gained traction, partnering with major industry players such as Maruti-Suzuki and DICV. The platform assists companies in generating compliance reports for frameworks like BRSR, CSRD, and CBAM, making the complex process of adhering to carbon regulations more manageable.

Headquartered in Gurugram, Onlygood.ai also focuses on real-time product traceability across supply chains. Partnering with firms like Blue Ocean Steel and Envex, Onlygood.ai is committed to delivering comprehensive, actionable sustainability solutions for businesses across industries.