AfterWork Ventures invests $2.5 million in Avarni to enhance corporate sustainability by offering solutions for calculating and managing Scope 3 emissions.

Information on the Target

AfterWork Ventures is excited to announce its participation in Avarni’s $2.5 million pre-seed funding round. Avarni differentiates itself in the market by offering a precise capability to calculate Scope 3 emissions, which are emissions produced by third-party entities such as suppliers. These emissions typically constitute over 75% of the total emissions for most companies. Beyond calculation, Avarni also collaborates with organizations to engage and incentivize their suppliers in reducing these emissions, thereby positioning them as preferred suppliers.

With impending regulations in Australia set to take effect in mid-2024, aimed at curtailing Scope 3 emissions, Avarni is strategically positioned to support companies in navigating these changes effectively. The founders, Misha Cajic and Anuj Paudel, have expressed their excitement about this opportunity to contribute meaningfully to sustainability in the corporate sector.

Industry Overview in Australia

The emissions reduction landscape in Australia is witnessing significant transformation, driven by mounting pressure from regulatory authorities and public demand for corporate accountability. Over recent years, businesses have become inc