Onlygood.ai Raises Rs 4 Cr To Drive AI-powered Growth

Onlygood.ai, a leading platform dedicated to simplifying carbon management and sustainability reporting for businesses, said that it has successfully raised Rs 4 crore in a seed funding round. This investment includes key investments from the Indian Institute of Technology Madras Incubation Cell (IITMIC), Goel Group of Companies and Daimler India Commercial Vehicles (DICV), wherein DICV has obtained rights to purchase a 1.5 per cent equity stake at valuation. 

The funding will be crucial in expanding Onlygood.ai’s operations across India and the Middle East, with plans to extend into Europe later in 2024.

Rajeev Sinha, Founder, Onlygood.ai, said, “The support we’ve received from IITMIC, and our angel investors validates our vision for a more sustainable future. This funding will help us to expand our reach and continue delivering high-impact solutions to businesses worldwide.”

started in early 2020, Onlygood.ai was founded to address the growing carbon emissions crisis through innovation. At its core, the platform simplifies the complex data businesses need to measure, track, and reduce their carbon footprints. By providing clarity on their environmental impact, Onlygood.ai empowers companies to make informed decisions about efficiency, risk management, and sustainability. Onlygood offers end-to-end sustainability with its world-class offering Decarb Navigator and Decarb X-celerator.

After two years of extensive research and development, as per company, Onlygood.ai introduced its beta platform in 2022, followed by successful market testing. The company quickly gained traction, partnering with industry leaders such as Maruti-Suzuki and DICV, where it was recognised for its groundbreaking sustainability innovations.

The latest seed funding round, completed in August 2024, comes at a pivotal moment for Onlygood.ai. The investors, IITMIC and Goel Group were strategically selected to support the company’s mission of advancing sustainability solutions. With this capital infusion, Onlygood.ai will expand its team, enhance product features, and bolster its technology infrastructure to scale globally.

Onlygood.ai plans to heavily invest in research, expanding its automation capabilities and data management tools to enable businesses to better track and manage their carbon footprints. The company will also strengthen its presence in India through partnerships with local integrators such as NTTData, Blue Ocean Steel, Envex ensuring businesses receive tailored solutions that meet regulatory and sustainability needs.

With the seed round completed, Onlygood.ai is already preparing for a Series A funding round, expected to be unveiled in mid-2025. The company aims to raise USD 8-10 million to further fuel its expansion into Western markets, with a focus on enhancing product features and entering North America.