To truly manage energy consumption and costs, organizations need to know much more than the amount of carbon they are emitting. They need to know what they can actually do about it – and how. 

Yet, as carbon reporting requirements increase, sustainability teams struggle to even keep up with their data collection and reporting obligations, much less identify opportunities where they can reduce energy costs and expenditures or execute on these projects. This challenge is even greater for companies in energy-intensive industries with complex supply chains, such as manufacturers, construction firms, and utilities providers. 

Gravity has raised $13 million in Series A funding to deliver on this goal, and Eclipse is proud to partner with them on this critical journey. While other carbon accounting platforms have focused narrowly on the sustainability efforts of technology companies, Gravity was founded to serve both technology companies, as well as large industrial companies with complex supply chains and notoriously difficult-to-abate energy consumption. 

The insight into the scope and complexity of the problem — as well as what is needed to create a workable solution — comes from Gravity CEO and Co-Founder Saleh ElHattab’s first hand experience in industrial IoT. As a former product leader at Samsara, Saleh worked with organizations across various energy-intensive physical industries and saw the challenge in implementing sustainability initiatives. He also saw the shortcomings in carbon accounting platforms that put the data collection and reporting onus on users, which left little time to focus on taking strategic action to use energy more efficiently. Leveraging LLMs to automate carbon data collection, the Gravity platform calculates audit-ready sustainability reports and provides tools to execute on new initiatives to enhance energy efficiency — all while keeping in compliance with changing regulatory reporting requirements.

Launched in 2022 in partnership with Eclipse Venture Equity, Gravity’s end-to-end carbon and energy management platform quickly made an impact with early users, growing 400% year over year. Today, Gravity counts companies such as Waste Management, Autodesk, electronics distributor TTI, Inc., metals supplier Wisconsin aluminum, and many others as customers.One customer reported saving some 4,600 hours — the equivalent of 578 days of work — annually.  In addition to helping companies simplify their carbon reporting, Gravity has helped customers identify millions in savings through energy efficiency projects. The latest funding will be used to further product R&D efforts, and expand the team across the U.S. and E.U.

Energy-intense physical industries with complex supply chains collectively produce 80% of global carbon emissions. Reducing their footprint is a significant step towards a clean energy economy, but meaningful change requires tools that deliver enduring business value along with positive environmental impact. Gravity is the embodiment of this, and we are eager to help them deliver on their vision.

More on today's news from Reuters

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