How EcoCart Became a Green Tech Unicorn: Inside the Startup’s Meteoric Rise

Founded in 2019 by Dane Baker and Peter Twomey, EcoCart started with a mission to make sustainable shopping accessible to everyone. The company developed a browser extension and API that enables online retailers to calculate and offset the carbon footprint of each order, according to Crunchbase.

EcoCart’s breakthrough came during the pandemic e-commerce boom. As online shopping surged, brands and consumers became more aware of their environmental impact. EcoCart’s plug-and-play solution allowed retailers to offer carbon-neutral deliveries, a feature that quickly gained traction, as noted by The Wall Street Journal.

In its early days, EcoCart faced skepticism from both investors and retailers. Many questioned whether consumers would pay extra for sustainable shipping. The founders responded by making the offset cost optional, with retailers able to subsidize part or all of the fee, according to Forbes.

By 2021, EcoCart had partnered with over 1,000 online stores, including Shopify and BigCommerce merchants. The company refined its algorithms to provide more accurate emissions calculations, integrating with logistics providers and carbon offset projects certified by Gold Standard and Verra.

EcoCart’s Series A in 2022 raised $15 million, led by Fifth Wall Ventures. By 2024, the company had offset over 500,000 metric tons of CO2 and was serving major brands like Allbirds and Glossier, as reported by Bloomberg. The Series B and C rounds followed in quick succession, reflecting investor confidence in climate tech.

The latest Series D round, led by Sequoia Capital, brings total funding to $420 million. According to TechCrunch, the round was oversubscribed, with participation from Breakthrough Energy Ventures and Kleiner Perkins. EcoCart plans to use the capital to expand internationally and invest in AI-powered sustainability analytics.

EcoCart operates in a crowded field, competing with startups like Cloverly, Patch, and CarbonClick. Its edge lies in seamless integration, transparent reporting, and a growing portfolio of exclusive offset projects. The company’s dashboard provides real-time emissions data and impact metrics for retailers, setting it apart from rivals.

A 2025 survey by McKinsey found that 62% of Gen Z and Millennial shoppers prefer brands with visible sustainability commitments. EcoCart’s technology helps brands showcase their climate action, driving higher conversion rates and customer loyalty, according to internal case studies shared with The Wall Street Journal.

To date, EcoCart claims to have enabled over 50 million carbon-neutral orders, offsetting the equivalent of removing 110,000 cars from the road for a year, based on EPA data. The company has been featured in Fast Company’s 2025 Most Innovative Companies and won the GreenTech Global Impact Award.

EcoCart’s offset projects span reforestation, renewable energy, and methane capture initiatives in North America, Asia, and Africa. All projects are third-party verified, ensuring transparency and credibility, as detailed in EcoCart’s 2025 Impact Report.

Despite its growth, EcoCart faces scrutiny over the effectiveness of carbon offsets. Critics, including some environmental groups, argue that offsets are not a substitute for direct emissions reductions. EcoCart acknowledges these concerns and has pledged to invest in more permanent carbon removal solutions, according to a recent Reuters interview with CEO Dane Baker.

Regulatory uncertainty is another hurdle. The EU’s proposed Green Claims Directive and new US SEC rules on climate disclosures could affect how EcoCart and its partners communicate environmental claims. The company is working with legal advisors to ensure compliance, as reported by The Economic Times.

EcoCart plans to launch new AI-powered tools for supply chain emissions tracking in Q3 2026. The company is also expanding into Europe and Asia-Pacific, targeting enterprise clients and logistics providers. Partnerships with Shopify and Amazon are expected to deepen, according to statements from company leadership.

As climate regulations tighten and consumer demand for sustainability grows, EcoCart’s model is likely to influence how brands approach carbon management. The startup’s journey from a scrappy idea to a green tech unicorn offers a blueprint for mission-driven innovation in the digital economy.

Sources: TechCrunch, The Wall Street Journal, Forbes, Bloomberg, Crunchbase, Reuters, The Economic Times, Fast Company, McKinsey, EPA, EcoCart Impact Report.