Transformational deal will combine best-in-class wholesale, retail, manufacturing and cultivation operations with an expanded product line-up that customers love in the largest cannabis market in the U.S.
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Climate infrastructure startup’s 8x revenue growth captured the attention of lead investors Fifth Wall
SAN FRANCISCO – October 10, 2022 – (Newswire.com)
EcoCart, a software company building the infrastructure for ecommerce companies to operate sustainably at scale, has raised a $14.5M Series A round. The company, which previously raised $3M in April 2021, will leverage the funds to continue its work toward making ecommerce more transparent and sustainable.
The round was led by Fifth Wall Climate, and with participation from Capital One Ventures, SVB Capital, Ryder Ventures, Sree Sreedhararaj, CTO at Sephora, Nikila Srinivasan, VP of Product at Instacart, and a handful of other angel investors. Existing investors Base10 Partners, SuperAngel.Fund, and angel Ben Jabbawy, Founder of Privy also participated in the round.
The company has increased revenue more than 8x and grown headcount from 5 to 30 full-time employees, which is a direct result of them capturing the attention of major ecommerce brands across the globe. As the company continues to grow, they plan to expand into new ecommerce platforms as well as other custom builds with their evolving API capabilities.
“Using EcoCart is like having your own trusted sustainability team to guide you through the process of measuring, offsetting, and analyzing your carbon footprint,” says Kyle Hency, Co-Founder and former CEO of Chubbies. “Their way of threading sustainability into the shopping experience doesn’t only help brands communicate about what they’re doing to be more sustainable but it genuinely delights customers in the moment. It’s also an extremely easy way for ecommerce brands to take that first step toward operating more sustainably, which removes potentially the biggest hurdle brands face when they first start considering sustainability.”
EcoCart’s platform has grown extensively since the previous financing round, having added capabilities such as product detail page content, educational homepage banners, live impact counters, and in-depth sustainability reporting. In addition to new capabilities, the roster of carefully vetted offsetting projects that the company partners with to help their customers fund genuinely impactful offsetting activities has also grown. This expansion has allowed EcoCart to offer even more impactful sustainability-led experiences, solidifying the company as a clear leader in the sustainable commerce space. As a result, brands leveraging EcoCart have seen higher than 60% adoption rates from their customers, which has led up to a 22% lift in conversion rate and a 38% increase in average order value.
“EcoCart makes sustainability an everyday touchpoint for consumers, unlocking a scalable way for thousands of companies to contribute to impactful, sustainable projects that support people and help to decarbonize our planet,” said Brendan Wallace, Co-Founder & Managing Partner, Fifth Wall. “We are proud to back EcoCart through its next stage of development and growth and explore how the real estate sector can harness the power of consumer action to make a meaningful impact globally.”
EcoCart was founded in 2019 by Dane Baker and Peter Twomey. Since inception, EcoCart has worked alongside merchants of all sizes, from retail giants to home-grown businesses, who don’t have the time or resources to go through a full product lifecycle audit and analysis, to help them calculate, analyze, and offset their carbon emissions. The company’s continued growth, and this new round of funding, is further evidence that the need for sustainability solutions for businesses of all sizes will only continue to grow.
“Since partnering with EcoCart last year, Dane, Peter, and team have made tremendous strides towards their vision of making the entire retail industry more sustainable. We’ve seen EcoCart build strong trusted relationships with their customers around the most critical point of the ecommerce experience: checkout,” noted Rexhi Dollaku, Partner at Base10 Partners. “Base10 is excited to continue backing this special company, which is well on its way to solidifying a spot in every brand’s ecommerce toolkit.”
EcoCart’s robust product suite has enabled the company to support 2,000+ customers including Siete Foods, Walmart Canada, Supergoop!, Bird Scooters, Mr. Beast’s Feastables, APL, and more. With this new round of funding, EcoCart will continue building next generation climate tools to enable ecommerce brands to operate more sustainably with a mission to make an impact with every online transaction.
Contact Information:
Jake Chatt
Head of Marketing
Press Release Service
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EcoCart Raises $14.5M Series A to Make Sustainable Ecommerce More Accessible and Transparent
Where skin rejuvenation meets luxury
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ZUG, Switzerland – October 10, 2022 – (Newswire.com)
eLivestock Global …
CU1 and former NFL player and veteran sportscaster Mike Golic will launch the partnership at the Shamrock Series presented by Credit Union 1 and invite local nonprofits in South Bend, Michiana, and Chicagoland to apply for grants.
SOUTH BEND, Ind. – October 8, 2022 – (Newswire.com)
Credit Union 1 (CU1)—a leading financial institution with branches across Illinois, Indiana, and Nevada, and the Official Banking Partner of Notre Dame Athletics—is announcing its partnership with the Golic Family Foundation, a charitable organization started by notable Notre Dame alumnus, former NFL player and veteran sportscaster Mike Golic and his family. Together, CU1 and the Golic Family Foundation plan to offer $100,000 in grants to local nonprofits serving the South Bend community and beyond in 2023.
The partnership builds upon the success of the inaugural Golic Sub-Par Classic at The University of Notre Dame, held in June 2022. Credit Union 1 was the primary sponsor for the event, which benefited The Logan Center, Center for the Homeless, Food Bank of Northern Indiana and the South Bend Animal Resource Center.
“South Bend will always be home to our family thanks to the countless memories and milestones we have celebrated here, and we look forward to giving back to the community that helped shape us all,” says Golic. “Through the Golic Family Foundation, which will expand on the success of the inaugural Sub-Par Classic, we will raise money for causes near to our heart, and we are excited that this partnership with Credit Union 1 will allow us to give back in an even bigger way.”
In addition to the $100,000 of grants that will be distributed, Credit Union 1 also plans to donate $200 to the Golic Family Foundation each time a new member opens a Fighting Irish Program account, allowing members to participate in giving back to the community.
“In our 65-year history, Credit Union 1 has always been committed to supporting families and communities. As we expand into the South Bend community with our new branch located just minutes from the University of Notre Dame campus, we wanted to ensure that our presence went beyond just serving our local members,” says Todd Gunderson, President and CEO of Credit Union 1. “The partnership with the Golic Family Foundation was a natural fit, and we look forward to strengthening our ties with the residents of South Bend and the wonderful nonprofits that serve the community.”
Grants will be distributed throughout 2023, but interested organizations can learn more and submit an application now at creditunion1.org/golic.
About Credit Union 1
Credit Union 1 is celebrating 65 years of helping members reach their financial goals. CU1 is a member-owned, not-for-profit financial cooperative serving 85,000 members across 14 branches located in Illinois, Indiana, and Nevada. CU1 also serves members nationwide thanks to a highly rated mobile app, 30,000 surcharge-free ATMs, and 5,000 shared-branch locations. CU1’s mission is to exceed our members’ expectations by delivering innovative financial solutions to help achieve their maximum economic potential. In 2021, CU1 provided $9.9 million in direct financial benefits to members through lower loan rates, high savings rates, and fewer fees than banking institutions.
Contact Information:
Sarah Ryan-Lizee
Director of Communications, Credit Union 1
630.439.7984
Press Release Service
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Credit Union 1 and the Golic Family Foundation Announce Partnership and Plan to Distribute $100,000 in Grants to Local Nonprofits in 2023
DeerTV has launched affordable and high-quality outdoor TV Cabinets into the market. These outdoor TV cabinets are attractive in looks and 70% cheaper than most competitors. It keeps the TV safe and protected while giv…
Vape Trade Group Warns That Latest FDA Action Risks Jeopardizing Agency Credibility and Harm Reduction Mission
WASHINGTON – October 7, 2022 – (Newswire.com)
Following the Food and Drug Administration’s release of the National Youth Tobacco Survey, Vapor Technology Association Executive Director Tony Abboud released the following statement:
“Yesterday, the FDA, in coordination with the CDC, released new data from the 2022 National Youth Tobacco Survey (NYTS) on e-cigarette use among U.S. youth. The FDA represents the NYTS data to show that youth vaping ‘remains high,’ yet a deeper dive into the data show only a small uptick in experimental or infrequent use while regular use remains flat or is slightly down.
“The fact remains that since 2019, according to the CDC, the number of high school students who have tried vaping (1 time in the last 30 days) has dropped by 50%, and the number of middle school students has plummeted by 70%. During that same time period, the number of high-school students who ‘frequently’ vape has dropped by 37% and the number of middle school students has dropped by 65%. FDA’s near single-minded focus on youth who experiment with vaping versus those who are frequent users ignores what clearly is a consistent trend of youth away from vaping products. Rather than focusing on removing products from the market in an attempt to impact youth vaping, the FDA should instead support common-sense regulatory reforms that would better restrict access to products instead. Simply removing products from the market is not the answer when those products are also proven to help adult smokers quit.
“It is well documented that flavored vapor products help adult smokers to switch to less harmful vaping and study after study after study has confirmed this. Since 2010, when e-cigarettes became widely available in the U.S., smoking rates have declined by more than half. Tobacco use is down. Youth vaping is down. These are both good things and are not in dispute. Unfortunately, there are still 40 million Americans addicted to cigarettes. Every year, 500,000 die from smoking-related diseases and yet less than three percent of our kids are using vapes on a regular basis. The FDA’s failure to acknowledge this reality ignores the role vaping plays in harm reduction and smoking cessation, and puts more lives at risk.”
ABOUT VTA
The Vapor Technology Association is the U.S. industry trade association whose members are dedicated to sound science-based regulation and selling innovative high-quality vapor products that provide adult smokers with a better alternative to combustible cigarettes. VTA represents the industry-leading manufacturers of vapor devices, e-liquids, and flavorings, as well as the distributors and retailers, including hardworking American mom-and-pop brick-and-mortar retail store owners.
MEDIA CONTACT
[email protected]
Contact Information:
Tony Abboud
Executive Director
703-283-4792
Press Release Service
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Vapor Technology Association Questions FDA’s Youth Vaping Analysis
SAN RAMON, Calif. – October 7, 2022 – (Newswire.com)
Brilsam Inc. (“Bril…
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