EQT Growth, a fund specializing in technology investments, has announced a EUR 100 million investment in IntegrityNext, a Munich-based sustainability software platform.
IntegrityNext is focused on providing a cloud-based platform that allows businesses to assess risk and monitor a large portion of their supply chain for ESG metrics and compliance.
The company serves more than 200 customers and monitors almost one million suppliers, making it one of the leading environmental, social, and governance (ESG) certification software solutions in Europe.
The company’s platform is used by major corporations such as Siemens Gamesa, Infineon, SwissRe, Kion, and Hilti.
With this investment, EQT Growth plans to help IntegrityNext expand its core product to serve upcoming European regulations, particularly in the wake of the introduction of several major regulatory frameworks across Europe.
The German Supply Chain Due Diligence Act, the EU’s Green Deal, and the Corporate Sustainability Reporting Directive are some of the key drivers of this development.
EQT Growth plans to support IntegrityNext in accelerating its growth by investing in the tech platform and positioning it for long-term success.
This news first appeared on PEVCJournal.com