Foodsteps Ltd.

Based in the UK, Foodsteps Ltd. provides a platform for food businesses to measure, reduce, and report their environmental impact, focusing on Scope 3 emissions in their supply chains. Foodsteps Ltd. was founded in 2018 in London, UK, to support food businesses in understanding their environmental impact.

The company has completed 2 deals, with its most recent funding in July 2024 during its Seed round, raising GBP 3. 1 mn led by Octopus Investments. The CEO and co-founder, Anya Doherty, has previously been involved in ventures aimed at sustainability and environmental impact. Foodsteps has not undergone any significant pivots or changes in its business model since its inception.

Foodsteps offers a comprehensive platform designed to help food businesses accurately measure, reduce, and report their environmental impact, particularly focusing on Scope 3 emissions associated with food and beverage supply chains. The core product, the Foodsteps Platform, provides data and insights across the entire life cycle of food products, from farming and packaging to processing and transport. This platform enables companies to analyze supply chain data effectively, identify high-impact areas, and make informed decisions to reduce their environmental footprint. Foodsteps has integrated over 3,000 academic studies with proprietary models to create a robust database that aids businesses in filling data gaps by collecting primary data from various production stages.

The company serves a diverse client base including food service providers, food manufacturers, and organizations focused on sustainable practices across Europe and North America. Foodsteps generates revenue through subscription-based models and partnerships with food businesses, providing them with access to its platform and related services. Clients typically engage in transactions structured around annual subscriptions for platform access, which may include tiered pricing based on the scale of usage and specific features required. The company’s flagship services encompass automated product assessments and carbon labeling, enabling clients to educate consumers and comply with environmental regulations.

Revenue is also derived from additional consulting services that assist clients in implementing sustainable practices and achieving their Net Zero goals. The transactional framework is designed to align with the operational needs of its clients, facilitating a seamless integration of sustainability metrics into existing business models. In July 2024, Registrar Corp, LLC, a portfolio company of Paine Schwartz Partners, acquired Foodsteps Ltd. from its previous investors.

This acquisition is expected to enhance Registrar Corp, LLC's sustainability solutions for the food and beverage industry. Foodsteps plans to leverage its recent funding to expand its platform capabilities and explore new product offerings aimed at improving sustainability metrics. Additionally, the company is targeting expansion into new geographic markets in Europe and North America to reach a wider client base by the end of 2025.