Pi Labs backs AI platform to make suppliers act Responsibly

An AI-driven platform that can help property companies automatically assess the sustainability of their suppliers has raised $2.4m (£2m) in a seed funding round led by Pi Labs and Hambro Perks. Responsibly, based in Copenhagen, combines AI technology with detailed expert data to provide an analysis of any supplier’s sustainability actions, enabling companies to automate engagement and put suppliers on an improvement roadmap. The firm was founded in 2021 by impact and tech entrepreneur Thomas Buch Andersson and counts the CERN research facility as one of its clients. He said: “As more buyers push suppliers for sustainability data to achieve scope-three targets or regulatory compliance, we want companies to spend less time manually collecting sustainability data – which is completely unscalable – so they can focus on actually making an impact where it matters the most by building a more sustainable supply chain which complies with increasing regulation.” Faisal Butt, founder and managing partner of Pi Labs, said: “Real estate has one of the most complex supply chains of any sector, and we have heard from large real estate developers that sourcing credible sustainable supplier data has been a challenging, opaque and laborious process to date with no clear solution.” He added: “Suppliers not complying with regulations run the risk of materially impacting corporate sustainability goals – and Responsibly eloquently mitigates this challenge. We are truly excited about the growth potential of Responsibly, which follows on from a number of our recent ESG-focused investments that are laser-focused on addressing the pressing societal issues we are all facing.” To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews