Handprint, a Singapore-based technology platform that is building the regeneration infrastructure for the digital world, today announced that it had secured further investment from Singtel Innov8, the corporate venture capital fund of Singtel.
The additional investment takes Handprint’s total seed funding to over USD$3 million. The seed funding was first announced in March 2022.
In a statement, the company said that the new funding would enable Handprint to continue building technologies that help companies create certified, positive impact and turn sustainability into a competitive advantage which it dubbed as a revolution in corporate sustainability as we transition towards a regenerative economy.
In addition to announcing the funding round, Handprint also announced the launch of its new product Handprint for Impact Partners, a SaaS platform designed to make it easier for NGOs of all sizes to digitise their regenerative efforts, promote their impact projects to corporates and measure and report their verified impact in just one platform.
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The platform will empower NGOs to manage and report the impact they create in a quantified way, providing continuous assurance to the businesses that back them.
It also enables NGOs to receive recurring funding, with no upfront cost, and digitise their processes for more transparent reporting of their impact and finances.
Handprint said that earlier this year, the World Economic Forum identified 15 key limitations to well-intentioned corporate sustainability pledges. Among them were the lack of trust in the verifiability of projects and their reported impact, as well as the over-focus on decarbonization and offsets at the expense of other important environmental challenges, like the depletion of species and destruction of natural habitats.
Launched in 2020, the Handprint platform was created to solve these challenges. Through the Handprint platform, companies can select from a range of verified climate, nature and social projects and embed that positive impact into their products and services, helping companies become truly planet positive.
Handprint said that its platform can also cut up to 80 per cent of the intermediary costs traditionally associated with impact projects thanks to the use of technologies like satellite imagery and machine learning for verification, solving for two key challenges facing companies and NGOs: value and trust.
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Image Credit: Handprint
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