This post is a part of the Early Stage Climate Startup series from Climafix 2024
Highlights
- AI-powered SaaS platform for carbon tracking and automated data insights.
- Businesses can customize sustainability dashboards for real-time performance monitoring and generate tailored reports.
1. Value Proposition
- Comprehensive Sustainability Benchmarking: NorthStar’s ML-based recommender systems provide tailored insights, enabling businesses to optimize their sustainability strategies and remain compliant with global standards like UNGC, GRI, SASB, and NVG. The platform tracks ESG performance and supports continuous improvement through real-time insights and actionable recommendations.
2. Pain Points
- Increasing regulatory pressure: By 2026, the CSRD will require sustainability disclosures from over 50,000 companies.
- Stringent carbon reporting requirements: Starting in 2026, the EU’s CBAM will impose carbon cost penalties on imports from high-emission industries.
- Data fragmentation: Over 60% of companies struggle with fragmented sustainability data, hindering compliance with new ESG standards.
3. Climate Impact
- Improved Carbon Management: The platform’s AI-driven insights empower businesses to manage their carbon footprint more effectively, potentially increasing operational efficiency by up to 30%.
- Promoting a Circular Economy: NorthStar’s emphasis on data transparency and sustainability benchmarking helps companies optimize supply chains and resource utilization.
4. Current & Future Target Segments
- Current Target Segments: NorthStar primarily targets businesses in energy and pharmaceuticals, along with investors focusing on sustainability tools.
- Future Target Segments: NorthStar plans to expand its offerings to include industries beyond energy and pharmaceuticals, catering to government entities, large corporations, MSMEs, and non-profit organizations.
5. USPs
- Automated Data Capture: Enterprise-grade automated data capture (ADC) enables organizations to monitor their carbon emissions and overall sustainability efficiently, minimizing manual errors.
- Customizable Dashboards and Stakeholder-Specific Insights: The platform’s customizable dashboards allow users to track progress, while chatbots tailored for different stakeholders offer detailed analytics.
6. Team Profiles
- Vasudha Saraogi (Founder & CEO): Currently a PhD candidate focusing on Sustainability Frameworks for Industry, Vasudha brings over 7 years of expertise in innovation, sustainability, and business.
- Vamsi Krishna Korasiga (Co-Founder & CTO): With more than 20 years of experience in technology and project management, Vamsi is pursuing a PhD in Technology and Sustainability.
7. Startup Headquarters
- India: Ahmedabad
8. Website