Helsinki-based The Upright Project, a company building an AI-enabled quantification model to measure the net impact of companies and funds, announced that it has raised €5M in a Seed round of funding.
Founded in 2017 by Annu Nieminen and Juho Ojala, Upright’s AI-based impact data engine contextualizes the disclosures and sustainability targets of companies with estimates of the EU taxonomy alignment, UN Sustainable Development Goals, and Upright’s proprietary net impact quantifications.
The data is taken from the world’s largest open-access scientific database (200m+ scientific articles), firm disclosures, market research studies, Eurostat, OECD, and other databases.
Although there are many organizations that offer carbon accounting or ESG reporting, Upright claims it is the first open-access platform to evaluate businesses across industries based on both their financial performance and total net effect.
The model’s methodology increases the depth of the majority of Corporate Social Responsibility (CSR) assessments and includes measures like ESG, SFDR, and others, which are currently skewed by firms’ self-reporting and purchasing power.
Upright’s business strategy is built on providing decision-makers with a comprehensive end-to-end approach by selling subscriptions for more in-depth outcomes by tracking progress, establishing goals, and sharing results.
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