Daato secures 5 million euros in seed financing round

Daato receives significant funding from kopa ventures, neosfer and IBB Ventures. With the fresh capital, Daato plans to further develop its platform into a solution for ESG compliance and sustainability management

Berlin, March 20, 2024 - Berlin-based Daato, a pioneer in ESG management, announces that it has secured over €5 million in a seed funding round. This investment will enable the startup to advance its mission to make ESG management efficient for all companies.

As a startup in a field as dynamic as ESG, we are delighted to have the commitment of investors such as kopa, Neosfer and IBB Ventures - it speaks to the strength of our offering.

Satya Kamal Raparthi, CEO & Co-Founder Daato

The financing round was led by kopa ventures in partnership with neosfer and IBB Ventures. kopa ventures is an early-stage impact investor focusing on European climate technology startups, neosfer is the early-stage investment unit and innovation division of Commerzbank Group and IBB Ventures provides venture capital for innovative Berlin-based companies.

Daato was founded by Satya Kamal Raparthi, a former co-founder of Mercanis and Head of Strategy at Scoutbee, and Thilo Hitz, a former Senior Policy Advisor at the German Ministry of the Environment. The company is headquartered in Berlin, Germany, and serves clients worldwide.

ESG compliance business model

After a year of growth, generating over one million euros in revenue and building client partnerships across the EU, Daato is poised for accelerated expansion. The platform stands out as a smart solution for ESG compliance and sustainability management, offering a "horizontal" approach that covers the entire scope of EU ESG reporting frameworks with its modular and highly standardized design.

Daato's ability to serve both large corporates and SMEs is particularly significant given the evolving ESG market. This is being driven in particular by the recent EU Sustainability Reporting Directive (CSRD). With around 60,000 EU companies now facing new reporting obligations, Daato offers a solution to manage these complexities.

Platform expansion and market extension

The new funding will be aimed at enhancing the platform's automation capabilities and driving market expansion to become the standard solution for comprehensive sustainability management. Daato strives to reduce the operational burden of ESG compliance and consolidate its position as a key partner on the path to ESG excellence.