As per Tech.eu, Carbonfact's software solution helps companies in the fashion industry track, report and reduce their emissions, since calculating the emissions of a single clothing item requires at least 100 data points, such as weight, material source and type of energy used in production.

Carbonfact's solution uses machine learning algorithms to fill in the gaps in the data sets of fashion brands, generating reliable CO2 footprint calculations, allowing these companies to identify and address the highest points of carbon emissions.

Venture Capital Headline participated in the 15 million USD financing round and by doing so, it joined the company's management board.

Jonathan Userovici, General Partner at Headline, says that "the fashion industry is worth $1,900B globally. It also emits some of the highest amounts of emissions for each dollar spent. Carbonfact is the only platform that offers a product deep enough to satisfy today’s increasingly complex supply chains. Carbonfact’s customers were the first ones to tell us about the incredible value the platform provides. Some of them were even able to access more attractive lending rates and sustainability incentives by being able to show real sustainability efforts."