ESG data management startup Atlas Metrics announced that it has raised €5.2 million in seed funding, with proceeds aimed at building out its platform to help companies collect, analyze, and communicate ESG data.

Founded in 2021, Berlin-based Atlas offers an ESG data accounting and reporting suite for companies and investors to understand and manage their non-financial performance, including tracking and communicating ESG KPIs, including carbon footprint. The company’s solutions serve users banks, funds, SMEs and startups across Europe.

In a post announcing the funding, Atlas said that it is focused on developing new high-impact features and reaching a wider range of organizations with its solutions. In addition to growing its platform, the company said that the funding will help it build out its team, now at 20 people, and Atlas also announced the hiring of former Wunder Mobility CTO Alexander Thiel as its new CTO.

Atlas founder Wladimir Nikoluk said:

“I’m incredibly proud of our team. We’ve uniquely combined in-depth ESG expertise and best-in-class product engineering in an intuitive product, which has been adopted with astonishing speed across various industries. In close collaboration with our investors and partners, we are on track to become the dominant ESG and carbon accounting solution for asset managers, portfolio companies, banks and SMEs in Europe.”

The funding round was led by venture capital firms b2venture and Cherry Ventures.

Jan-Hendrik Bürk, partner at b2venture, said:

“Having looked at many ESG reporting solutions over the past two years, Atlas Metrics’ product stands out due to its strong focus on building a smart and flexible logic model. Such a model will enable Atlas Metrics to scale beyond pure reporting functionalities and become an underlying data infrastructure player.”