As fashion’s quest to calculate and reduce its carbon and sustainability impact quickens, two industry-specific platforms are merging to provide a wider range of data tools in one place.
Environmental data solution Carbonfact has acquired product impact platform Vaayu, creating a combined solution with a roughly 300-strong customer base across the U.S., Europe and Asia—including Carhartt, Ganni, Vestiaire Collective and Veja
While terms for the deal were not disclosed, Carbonfact told Sourcing Journal that the newly merged company will have an annual recurring revenue of 8 million to 10 million euros (approximately $9.28 million to $11.6 million at current exchange rates). More from WWD According to Carbonfact’s CEO and co-founder Marc Laurent, the company’s acquisition of Vaayu is representative of a larger trend of consolidation among sustainability and carbon data platforms as they adapt to their corporate user base’s needs. Fashion’s sustainability teams and budgets have gotten smaller, and they want their software to do more for less expense.
Citing examples including Diginex’s purchase of Plan A and Sami joining SGS, Laurent noted that by joining together, platforms can better support companies across their rapidly expanding reporting, reduction and regulatory needs. “We are at a moment where the solutions in this space are looking to come together to become bigger and more robust, rather than the sector staying fragmented across many small platforms,” he said. “Bringing Vaayu and Carbonfact together is part of that consolidation logic.” As it becomes part of Carbonfact, the Vaayu brand will be “retired.” The latter’s data is being incorporated into Carbonfact’s modeling, and its customers will transition onto Carbonfact. Laurent said they will have access to their existing footprint information and can “pick up their work where they left off.” “We started Vaayu to give retail and fashion companies the granular, product-level climate data they need to…