2023 marked a significant period for Avarni. Our platform has now surpassed $1.58 trillion in supply chain carbon footprint data, identifying over 487 million tonnes of CO2e across 311,000 suppliers. We've more than doubled our team, extending our presence from Sydney and Manila to Melbourne, London, and Phoenix. Our achievements include the addition of numerous global partners and customers, a successful funding round, recognition through various awards, and introduction of substantial enhancements to our platform. In case you missed any of these updates, here is a compilation of our major milestones from 2023:
Customer & partner collaborations
This year, we empowered remarkable organizations and forged strong partnerships with market leaders, including:
Alaya Consulting — In June, we announced that Alaya Consulting and Avarni have partnered to facilitate ESG reporting and carbon emissions management. The collaboration enhances Alaya's Hong Kong based sustainability consulting services with Avarni's AI-driven carbon management to help companies automate their emissions reporting and accelerate their decarbonization efforts.
Amazon — As of August, Avarni has been available on AWS Marketplace, allowing customers to purchase Avarni and have subscription charges appear on the same monthly bill as their AWS infrastructure charges.
City of London Corporation — In March, we announced that the City of London was using Avarni to onboard its top 25 carbon-intensive suppliers and model and forecast its future emissions scenarios. In October, we held a joint webinar to demonstrate how Avarni is having a positive impact on the city’s procurement process. Watch the webinar: City of London’s net zero supply chain journey.
KPMG Australia — Avarni’s collaboration with KPMG Australia persists, enhancing the firm's sustainability consulting services by integrating our Scope 3 decarbonization platform. Furthermore, for the second year running, KPMG Australia has highlighted how they leverage Avarni for their own organization within their ESG report. Avarni has played a pivotal role in streamlining supplier engagement questionnaires for KPMG, facilitating enhanced partnerships and sustainable procedures. In addition, they have leveraged Avarni's capabilities to closely monitor high-emission supplier segments. See page 37 of the report to see how we work together: KPMG: Our Impact Plan 2023.
Morrison Hershfield — The Canadian engineering services firm announced in August that they leveraged Avarni to assist them in completing their most comprehensive carbon footprint assessment to date. Their latest ESG Report outlines how Avarni’s capabilities to forecast carbon reduction pathways are helping the organization formally commit to reducing its carbon footprint. See page 13 of the report to see how we work together: 2022 Environmental, Social and Governance Report.
Schneider Electric — We announced in March that Schneider Electric has partnered with Avarni to expand AI-enabled Scope 3 decarbonization solutions. The global collaboration enhances Schneider’s market-leading, AI-enabled software and sustainability consulting services with Avarni’s global supply chain data set and AI-driven analytics to help the companies accelerate their Scope 3 decarbonization efforts for clients. We are currently working with Schneider Electric to help decarbonize some of the world’s biggest companies and we look forward to sharing more details on these efforts in 2024.
Tasman Environmental Markets (TEM) — In September, we announced that TEM (Tasman Environmental Markets), among the largest suppliers of voluntary carbon offset solutions in APAC, is helping Avarni’s customers to make offsetting Scope 3 emissions easier.
Funding success
In November, we announced that we raised $2.5 million in an extension round from returning investor Main Sequence, along with new investors Sprint Ventures and AfterWork Ventures. This latest round follows our $3 million capital raise from November 2022, bringing the total funds raised to date to $6.1 million. Read the media coverage:
AFR Sustainability Leader 2023 — In June, Avarni was recognised in the Australian Financial Review’s Sustainability Leaders list. This prestigious accolade awarded by the AFR in association with BCG celebrates companies in Australasia that are making significant progress in addressing sustainability challenges while driving business value.
2023 Australia and New Zealand Climate Tech 100 — We’re pleased to have been included in HolonIQ’s annual list of the 100 most promising Climate Tech startups from Australia and New Zealand.
Winner: Global Growth, 2023 Climate Tech Awards — We’re proud to have won the "Global Growth" award at the prestigious 2023 Climate Tech Awards during the Australian Climate Tech Festival, which took place in Sydney in November.
Major product enhancements
The Avarni Engineering and Product teams are constantly improving upon the Avarni platform, and made countless performance and UX improvements throughout the year. Here are the major product updates we delivered in 2023:
Expanded data import — We kicked off the year by adding the ability to connect with over 1,000 Software-as-a-Service (SaaS) applications, including Coupa, Microsoft Power BI, NetSuite, Oracle, QuickBooks, Salesforce, SAP, ServiceNow, Stripe, Workday, and Xero. These integrations make it easy to upload your spend, operational, and financial data from enterprise systems directly into Avarni.
Scope 2 calculation automation — Coverage expanded to provide Scope 2 calculation automation support for 54 new countries, ensuring accurate and comprehensive carbon emissions calculations globally.
New Avarni dashboard — Our new executive dashboard provides you with comprehensive emissions insights as soon as you log into the platform. This new screen allows you to access high-level insights and data points at a glance, including the number of suppliers in your reporting period, average monthly emissions, trends compared to the previous year along with various other visualizations and breakdowns.
Supplier SBTi insights — We added a new feature to allow you to track the percentage of your supply chain covered by targets validated under the Science-Based Targets initiative, offering valuable insights into your supplier decarbonization efforts.
Expanded organizational management — To give you more flexibility in managing your data, we expanded Avarni’s capabilities to support multi-tiered organizations. You can create an organizational structure that meets your organizations needs, grouping by geography, business unit or subsidiary. This allows users to now disaggregate data to the relevant subsidiary or sub-organization on multiple levels.
Custom fields — We understand that every organization is unique, and your data should reflect that. So we added the ability for you to create your own custom fields, enabling you to include additional, company-specific data that can be retained and analyzed within the platform.
Custom Graphs — This major enhancement allows you to create your own custom graphs and visual representations of your uploaded emissions data. You can create multi-level graphs, apply dynamic filters, view running percentage of emissions metrics, and effortlessly export your graphs for presentations, reports, or external analyses.
Custom Fields meet Custom Dashboards — Building on previous updates, this release integrated Custom Fields with our Custom Dashboards, ensuring your unique organizational data is not only stored, but visualized exactly how you need it.
New supplier mobilization module — This update underscores Avarni's commitment to supplier mobilization. It provides a comprehensive solution for managing suppliers in cohorts, and enables you to seamlessly invite suppliers to Avarni, monitor their emissions, initiate data requests, and develop supplier-specific factors—all within a unified platform. This empowers your suppliers with the tools they need to easily manage and report their emissions to you, and you the tools you need to transition away from proxy, estimated data to actual, supplier specific data.
New questionnaire builder — You can now build questionnaires to send out to suppliers in a new, more intuitive user interface, including default question templates, copying templates, and seeing a preview of what the supplier will see when they receive the questionnaire.
New AI and improved data processing speeds — While we were constantly updating and improving upon our AI throughout the year, our latest AI update significantly reduces the time required in updating emission factors against spend data, empowering you to further streamline how you manage your carbon emissions data.
Last but not least, we announced earlier this week that Avarni has been recognised as SOC 2 compliant. Achieving SOC 2 compliance reflects Avarni’s dedication to not only meeting but exceeding industry standards, cementing its position as a trusted partner for businesses seeking to decarbonize their supply chains and reduce their emissions footprint through AI-driven data analysis and measurement.
Gratitude for a remarkable 2023
A heartfelt thank you to the Avarni staff, customers, partners, investors, and suppliers for your dedication to innovation and sustainability. We value our collaborative efforts in driving positive change and look forward to continued success in the coming year.
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