Carbon-accounting startup Planetly shuts down
Planetly, a Berlin-based carbon-management software company, is shutting down and laying off all 200 employees roughly one year after it was purchased by OneTrust, Axios has learned.
Why it matters: Planetly is among the first carbon-software companies to shut its doors amid a broader swath of layoffs affecting tech companies and startups.
Driving the news: OneTrust, an Atlanta-based enterprise compliance-software company, made the decision to wind down Planetly in favor of merging its carbon accounting and ESG software products into OneTrust's primary Trust Intelligence product, Planetly co-founder Anna Alex said in a LinkedIn post.
What they're saying: "This is sad news for every single person who put all their knowledge, energy, heart and soul into the development of our product, and also for [co-founder] Benedikt [Franke] and myself. The closing of Planetly is also the ending of our engagement in the company," Alex said in her post.
Flashback: OneTrust bought Planetly in December 2021 for an undisclosed amount.
- Prior to the acquisition, Planetly provided carbon accounting for roughly 170 companies, including BMW, HelloFresh and The Economist Group.
OneTrust did not immediately return Axios' request for comment.