How Planet FWD Raised A $10 Million Series A In A Tough Market | Forbes
May 31, 2022
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5:16Now PlayingHow Planet FWD Raised A $10 Million Series A In A Tough Market | Forbes
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as posted by the channelRaising venture funding as a Black female founder is, to put it mildly, no small task: Less than 2% of all venture dollars go to women, and Black women get less than 0.5% of all venture funding. Layer atop these statistics a market environment in which funding for all types of startups has dropped in recent months—investors doled out 11% less capital in the first quarter of 2022 than they did in the three months ending 2021, the first quarterly decline in two years—and you get a situation in which even the most seasoned entrepreneur wouldn’t be faulted for feeling a bit daunted by the prospect of raising a new round right now.
But Julia Collins, a serial entrepreneur who cofounded Zume Pizza in 2015 and grew it into a $2 billion food brand before leaving in 2018, sees these numbers as noise. So as she set out to raise a Series A round of funding for her new company, carbon management platform Planet FWD (pronounced “forward”), she focused instead on her business’ fundamentals and mission to help consumer brands reduce their carbon emissions.
This week, Collins announced that Planet FWD has raised a $10 million Series A from Acre Venture Partners and Congruent Ventures, bringing her total funding to $16.8 million.
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