Sustainability platform Higg has announced details of its $50 million Series B funding round. The funding is co-led by technology growth investor Silversmith Capital Partners and Tom Steyer and Katie Hall’s Galvanize Climate Solutions, with participation from Series A partners Titan Grove and Buckhill Capital. With nearly 50,000 brand and manufacturer users in more than 100 countries, Higg works to improve supply chain sustainability – focusing on reducing carbon emissions, water and energy consumption, and improving work conditions. The funding is intended to accelerate the delivery of innovative technology solutions and Higg’s rapid expansion into new consumer product categories such as outdoor, automotive, toys and household goods.
Higg’s Series B comes at a time of increasing expectations for ESG (environmental, social and governance) accountability and disclosure for companies. Supply chain due diligence regulations are being developed in the EU and U.S., in addition to recent product labeling and sustainability disclosure guidelines. At the same time, consumers show an increased interest in greater product-level transparency.
