Carbon accounting software startup Tset has closed €12.7 million Series A round as it expands to new markets and industries.

Founded in 2018 by Andreas Tsetinis and Sasan Hashemi, the Austria-based company is a global software provider specialising in enterprise-wide product cost and emissions calculations for industrial goods. 

Tset’s SaaS software provides real-time insights into the impact of design changes on the product cost and carbon footprint, enabling the manufacturing industry to maximise cost and CO₂-efficient product development, production and procurement. 

The cloud-based software is offered as a SaaS product and can be used from the early development phase through to series production, providing customers with a higher margin and greater transparency of product emissions. 

Tset’s customers include AGCO, Brose, Lego, Thyssenkrupp, ZF and, since this year, the BMW Group. 

Hashemi and Tsetinis emphasise: 

“Due to the regulation of CO₂ emissions and the increasingly intense competition in the automotive industry, the demand for our software is continuously growing. 

Following our success in Europe, we are now increasingly working on entering the North American and Asian markets.” 

Investors in the current round include Carbon Removal Partners, Brose Ventures, and Ingenics Holding.

Lead image: Tset. Photo: uncredited.