Gresham House Ventures has completed a £3.5 million investment into product sustainability impact software business Dayrize.
Founded in the Netherlands in 2020, with offices in Amsterdam and London, Dayrize has developed a rapid sustainability impact assessment tool that delivers product level insights for consumer goods brands and retailers.
The cash will be used to strengthen its capacity for serving its customer base and bolster its sales and customer success teams internationally, with a particular focus on North America.
It will also enable the company to take further advantage of the move towards greater environmental and social impact transparency in the face of shifting regulatory and consumer demands.
Alongside the investment, Gresham House Ventures has worked with Dayrize on the appointment of Andrew Anderson as Chair.
Anderson brings significant experience of founding and scaling software businesses and working with first time founder teams, and will help to guide Dayrize’s commercial strategy.
Dayrize will exhibit at @RetailTechShow 2022 to introduce our product-level impact calculator to Europe’s most forward-thinking retailers. Come talk with us about your brand’s sustainability journey at London’s Olympia on 26-27 April 2022 at stand 6A50 pic.twitter.com/gU8FgErQAK
— Dayrize.IO (@Dayrize_IO) April 25, 2022
Thomas Makey, Investment Director at Gresham House Ventures, says: “This investment will enable Dayrize to strengthen its offering to both existing and new customers internationally and aligns well with Gresham House’s expertise in managing innovative, impactful investments.”
“We have been very impressed with Dayrize’s rapid market penetration since launch, bringing several global brands on board, as well as the expertise of its management team.”
“We believe the business is poised to lead the way in helping consumer-facing businesses measure and improve the sustainability of their supply chains at a time when this is an increasingly significant consideration.”
Austin Simms, Founder and Chief Executive at Dayrize, says: “Increasing regulation has put pressure on companies to be more transparent with the environmental and social impact of the products they make and sell.”
“Measuring impact at the product level has traditionally been complex and expensive, and therefore not scalable for companies with large product portfolios. The fully automated Dayrize software simplifies complexity and produces accurate results at a fraction of the cost of traditional methods.”
“Gresham House Ventures is a leader in supporting technology driven businesses in their early stages of growth, and we look forward to working with the team as we accelerate our international growth.”
Anderson says: “This investment marks a pivotal moment in Dayrize’s evolution, validating our unique product suite and affirming our significant global potential.”
“As Chairman, I’m thrilled to be part of the journey with such an innovative company, led by a remarkable team, and I anticipate great success, especially given the value that Dayrize enables global consumer goods brands and retailers to achieve.”
Retail Technology Show 2022
Dayrize was crowned the winner of the 2022 Innovation Awards at Retail Technology Show, which took place at London’s Olympia.
Selected from the hundreds of retail technology providers exhibiting at the event, the awards celebrate and recognise the most future forward technologies with the power to transform retailers’ operations.
Matt Bradley, Event Director at Retail Technology Show, said: “Dayrize’s solution was a clear winner among the judges. “
“We know that consumers now expect retailers’ sustainability efforts to be deeply and genuinely rooted in the brands’ psyche, so by making this trackable for both businesses and customers, Dayrize is helping retailers become greener operationally, while also ensuring this is effectively communicated to shoppers.”
“The Innovation Awards are a hallmark of the very best technologies that truly have the power to digitally transform and evolve retail, and we congratulate Dayrize on a well deserved win in what was a hotly contented competition,” he concluded.
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