NuFund Backs Ecodrive to Transform Everyday Transactions into Environmental Impact

July 19, 2024 – NuFund Venture Group is thrilled to announce its recent investment in Ecodrive, a groundbreaking B2B software platform dedicated to integrating measurable environmental impact into everyday business transactions. This strategic funding aims to bolster Ecodrive’s mission of combating greenwashing and enhancing transparency and efficiency in sustainability initiatives.

Ecodrive addresses critical issues in the sustainability sector, particularly the lack of project verification and transparency, which often lead to false claims and substantial legal risks for businesses. By introducing their innovative Impact-as-a-Service platform, Ecodrive enables companies to tie tangible environmental actions to every transaction. For instance, for every customer review or online order, Ecodrive ensures a measurable positive environmental impact, such as planting trees or removing plastic from oceans.
Ecodrive’s market opportunity includes an addressable market of 12-24 million online stores, which continues to grow daily. “Our platform not only helps businesses contribute to climate action but also enhances their operational efficiency and customer engagement. We believe in making every transaction count, and with NuFund’s investment, we can amplify our efforts to drive measurable environmental impact on a global scale that is not only good for the planet, but also good for business,” said Trevor Laudate, Co-Founder of Ecodrive.

Ecodrive offers an Impact Portal and Marketing Automations, an all-in-one platform for managing sustainability efforts and boosting ROI through real-time environmental reporting and marketing assets. The Verified Project Marketplace ensures all environmental projects are verified on the ground, with precise tracking of timestamps and coordinates to ensure actual impact. Their proprietary IMPACT ID Software tracks and communicates the environmental impact of each transaction to end customers, enhancing trust and engagement.

Since its inception, Ecodrive has been dedicated to delivering transparency and verifiable results, enabling brands to effectively communicate their sustainability efforts, increase conversion rates, enhance customer experience, and attract new customers. Their platform is currently trusted by over 500 businesses across various industries

NuFund Venture Group’s investment will accelerate Ecodrive’s growth and expansion, allowing the company to enhance its technology, scale its operations, and reach a broader market. Ecodrive’s platform has led to a 17% average increase in cart conversions for their clients.

Benton Moore, Deal Lead and NuFund Member, added: “We are excited to support Ecodrive in their mission to drive measurable environmental impact through everyday business activities. Their innovative platform addresses critical gaps in transparency and verification, making it easier for businesses to adopt and promote sustainable practices. We believe Ecodrive has the potential to set a new standard in the industry and make a significant positive difference.”

With the backing of NuFund Venture Group, Ecodrive is poised to revolutionize the integration of climate action into commerce, providing businesses with the tools they need to make a genuine impact while simultaneously boosting their bottom line. The collaboration aims to set a new standard for sustainability in the business world, fostering a future where every transaction contributes to the fight against the climate crisis.

About Ecodrive
Ecodrive is a B2B software platform that ties measurable impact to everyday transactions in commerce. For more information, please visit http://www.ecodrive.community

About NuFund Venture Group
NuFund Venture Group represents a new wave of angel investors, pioneering a novel fund model focused on emerging technology leaders. NuFund was formerly known as Tech Coast Angels – San Diego (TCA-SD), and the organization is one of the largest, most active, and most successful early-stage investor groups over the past 20+ years. We continually strive to foster a culture that is friendly, innovative, engaging, rewarding, and fun for all stakeholders. For more information, please visit http://www.nufund.com

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