Startup Mantra: Accelerate business growth with sustainability

Hindustan Times

14-06-2025

At a time when businesses across the globe are navigating a maze of sustainability regulations, a Pune-based startup is helping them find clarity—and compliance—with confidence. Founded in 2021 by Rajesh Patel, Snowkap is a Net Zero Software-as-a-Service (SaaS) platform that helps companies manage their Environment, Social and Governance (ESG) performance and reduce their carbon footprint.
Born out of a problem Patel encountered firsthand—scattered ESG data, outdated tools, and a lack of business-aligned solutions—Snowkap blends artificial intelligence with human expertise to create a comprehensive, usable platform.
'We're not trying to retrofit old systems,' says Patel, who also heads the Powerweave Group. 'We wanted to create something grounded in how sustainability actually functions inside modern businesses,' he said.
From pain point to platform
The ideation for Snowkap began with conversations across boardrooms and factory floors. Patel and his team met sustainability officers, procurement heads, chief financial officers (CFOs), auditors, and policy advisors across geographies. 'We mapped where ESG data comes from, who owns it, where it gets stuck. The pattern was clear—manual processes, scattered workflows, and a heavy reliance on consultants just to stay compliant,' says Patel.
What emerged was a business-grade ESG ERP platform—built from scratch, not retrofitted. The platform integrates directly into an enterprise's existing systems, automates data collection, matches it to global frameworks, and flags gaps, enabling quick and credible reporting. It supports the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and Task Force on Climate-related Financial Disclosures (TCFD), among others.
'Think of us as your ESG control tower,' Patel explains. 'We plug in, clean up your data, match it to global standards, and help build your reports—all from one place.'
Bootstrapped but built-to-scale
The product has been in the making for over 18 months, backed entirely by the Powerweave Group and developed by a core team of engineers, ESG experts, and compliance professionals. Around $1.5 million has been invested so far through internal capital and grants. Unlike many early-stage startups, Snowkap has avoided the blitz-scaling trap. 'We built with intent, not speed,' says Patel.
While most SaaS companies bleed cash in the name of scale, Snowkap's infrastructure and product choices were made to grow sustainably. 'From the beginning, we asked—how can we scale without increasing burn?' adds Patel.
Human and AI approach
The global ESG software market, currently pegged at $3.17 billion, is dominated by giants like SAP, IBM, and Microsoft, which together command over 60% market share. Snowkap, like other Indian entrants (with <10% market share), is an emerging challenger in a rapidly growing industry.
What sets Snowkap apart, says Patel, is its Human + AI approach. 'Most platforms stop at reporting. We go further—our AI does the heavy lifting, and our ESG experts help translate that into business-first action,' he says. 'It's not just about compliance—it's about helping businesses make smarter decisions.'
Europe and GCC on the radar
Snowkap now plans to expand into high-impact markets in Europe and the Gulf Cooperation Council (GCC). The timing is deliberate. 'Europe is now the epicentre of sustainability regulation,' says Patel, referring to new frameworks like the Carbon Border Adjustment Mechanism (CBAM), the EU Deforestation Regulation (EUDR), and the Omnibus Directive. 'These aren't just acronyms—they're reshaping boardroom agendas.'
To enter these markets, Snowkap is strengthening its partner ecosystem. Local collaborators, especially in Europe, bring on-ground knowledge and regulatory understanding, while Snowkap provides the scalable tech backbone.
Industry tailwinds
The ESG software market is booming—with a global compound annual growth rate (CAGR) of 16.7%, projected to hit $8.03 billion by 2030. India's market is smaller but growing faster—from ~$110 million now to an estimated $377 million by 2030 (CAGR of 22.9%).
For Patel, it's not just a business opportunity—it's a shift in how companies define performance. 'ESG is now a boardroom priority, not just a CSR checkbox. When something becomes central to business strategy, you need infrastructure that evolves with it.'