WAKE FOREST — ImpactKarma, PBC has filed with the SEC to disclose an equity round of funding totaling nearly $5.5 million. The total offering is more than $7 million, with $1.7 million remaining to be sold. This round has 37 investors thus far.
ImpactKarma is the company behind KarmaWallet, which provides insights into the sustainability impacts of more than 15,000 companies. The service allows individuals and organizations to make purchasing decisions with a greater understanding of the social and environmental impacts they are supporting. The company also offers a prepaid debit card that offers up to 20% cash back on sustainable spending.
The company was founded in 2019 by Kedar Karkare and his father Jayant Khadilkar who sought a solution to the challenges of verifying conscious consumer spending. The company has had several rounds of debt financing totaling nearly $2.5 million, however, this is the company’s first equity raise.
In contrast, Khadilkar was himself a “Founding Funder” in the Triangle Tweener Fund, helping to contribute to the $2.1 million that got the fund started in early 2022.
Earlier this month, KarmaWallet celebrated its inclusion in Inc.’s Best in Business Awards, selected in both the “Sustainability” and “Small & Mighty” categories. The company is itself a B Corp, the certification for companies meeting certain social and environmental standards.
