Startup Company EcoCart Raises $3 Million to Help Shoppers Offset Their Carbon Emissions

By McKenzie Carpenter Monday, April 12, 2021

EcoCart, a browser extension startup company, reported today that it raised $3 million in financing.

Hand holding a lightbulb with a tree growing inside of it.

About the Business

EcoCart is a San Francisco-based free browser extension startup company that offers consumers the option to offset their carbon emissions for free from select merchants. According to the business, every time a customer shops at one of the more than 10,000 partner stores, the startup will offset the environmental impact of their orders. In return, customers earn EcoPoints to reach reward milestones such as earning gift cards, tree planting, and providing clean water.

Founded in 2019 by Peter Twomey and Dane Baker, the business earns an undisclosed commission amount from each order that uses the browser extension. The startup company claims it has offset more than 4 million pounds of carbon dioxide (CO2) emissions, saved more than 8,000 trees, and helped power more than 700 homes.

In addition, the startup company offers a carbon accounting tool for enterprises to calculate their own carbon emissions. Furthermore, EcoCart uses environmental commodity companies, ClimeCo and BlueSource, to help companies source and aggregate financeable offset projects. The business is partnered with stores like American Eagle, Glossier, PetCo, Kohl’s, Sephora, Levi’s, MeUndies, and many more.

New Financing for the Business

Earlier this morning, it was reported EcoCart raised $3 million in financing from Base10 Partners. However, the startup did not disclose what the new financing will be used for.

Chris Zeoli, principal at Base10 Partners, said, “We believe EcoCart is reinventing how brands interact with their customers while also managing and addressing their environmental impact at scale...EcoCart represents a solution that is helping reverse decades of harmful climate change. Base10 is proud to be partnering with the EcoCart founders as they continue to make carbon neutral shopping the new checkout standard for industries including retail, micromobility, food delivery, and more.”

Through a proprietary algorithm, the startup company is able to offset carbon emissions by evaluating several characteristics for package delivery, including shipping distance, package weight, and shipping materials (in and for the items). From this information, the business is able to estimate emissions created from each order.

The Industry and Competitors

The browser extension business is up against other companies like Cloverly and Honey. Cloverly, in particular, places a focus on sustainability as a service, and Honey is a discount browser extension. EcoCart is able to differentiate itself from each of these companies as the browser extension allows customers the option to offset their carbon emissions by providing a choice on whether or not to make a difference in the environmental impact.

The mission to offset carbon emissions is commendable as other startup companies around the world like fintech TreeCard, which raised $5.1 million in February with a plant-a-tree-as-you-spend business model; and Olive, a B2C ecommerce startup company that uses reusable packaging. All these companies have a goal of making the environment safer and cleaner for future generations.

Scientific American reported last year that the number of delivery vehicles in the 100 largest cities in the world could increase by 36% over the next decade, resulting in 32% more CO2 emissions.

About the Author

Headshot for author McKenzie Carpenter

McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.

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