In an Interview with Rajeev Sinha, Co-Founder, Only Good reveals that how this company empowers integration of sustainability
CXOToday has engaged in an exclusive interview with Mr. Rajeev Sinha, Co-Founder, OnlyGood
- When and where was the business established?
OnlyGood platform has been evolving over the last 2 years and has been implemented for remote monitoring and analytics in energy, automotive and manufacturing. The ESG and carbon monitoring initiative began in 2020 and OnlyGood was incorporated in April 2022 in Gurugram, Haryana
- List your key USPs. What distinguishes you from the competition already in place?
Unlike other carbon monitoring applications, the OG platform is not just a dashboarding application, but a suite of modular functions which provides a variety of services listed above.
A Shareable Carbon Dashboard with Complete Carbon Accounting, Monitoring, Reporting & Rechecks, in addition to Carbon Certifications & Sustainability Resources.
The process needs to redevelop & refresh every year without a strong system of error-free data handling. With us, it becomes easier & transparent because our clients’ unique data is reserved under their profile on our cloud.
- Why was there a need for the platform?
During the Lockdown when expected market reach for various companies was supposed to diminish. Mr. Rajeev, one of the co-founders of this enterprise owns a Fashion company which was expected to experience a set-back as well. However, owing to the responsible production of fabrics & operations- the brand received immense traffic & sales even in the period of complete shutdown. For Mr. Vivek & Mr. Rajeev, this was like an answer to their environment-based business concerns that had lasted as endless conversations for more than 2 years between the two. Mr. Rajeev’s experience with The Vanca energised the founders of OnlyGood as it made them realise that impact happens when you responsibly practise your trade.
Therefore, an impact-led initiative which is a merger between tech & creation has a much larger scope to incorporate urgent concerns for the planet and also leave space for SMEs to thrive.
- What technological tools does OnlyGoods use? Share details about the technology used by the platform?
- The OG platform is a modular, scalable and cloud-based platform
- The platform is based on the Internet of Things architecture and has an ability to read directly from remote sensors and devices
- The platform includes business rules, machine-learning/artificial intelligence modules and is API-driven
- All data is encrypted and GDPR compliant
- We have a Blockchain Integrated System. We also have worked out various phases of Service Development- Carbon Monitoring (current), Lifecycle Assessment, Activate our Blockchain tech soon (next phase)
- What is blockchain used for? What function does blockchain technology serve on your system?
Blockchain helps in authenticating the traceability bit for any purchase made, it is open source & helps us integrate various features & attributes in one platform. It makes transactions in businesses very easy, accessible & secure without needing any central clearing authority.
- Have you ever faced any business challenges, if yes then how did you overcome them?
Not yet. We have just started and thankfully, our strategies and systems in place are working very well for us.
- How do you envision OnlyGood five years from now?
Only good will expand into various offerings of sustainability. We plan to build an ecosystem of carbon networks, suppliers network and move towards blockchain connecting product life cycle and traceability. We will be helping companies on the complete life cycle of production, services and all existence. We start with giving carbon emission baselining, hot spot identification, consulting and reduction of the emission, control and improvement on efficiency, off setting and linking with various social causes and creation of a world class R&D centre for root level innovation.
- Are you seeking any investor interest?
We have a good & a promising financial strategy which seemingly is working well for our brand. We are comfortable with our investment & revenue metrics, in the future if we plan on expanding our services, we will be thinking of seeking investment, we are not thinking in that direction currently.
- What are your future plans for the company?
- Technology: A global technology leader in Carbon footprinting and ESG compliance
- Global leader in sustainability, offsets and benevolent activities
- Expansion especially in the EU and exporters to the EU who will be subject to carbon regulations and need to disclose their carbon footprint
- Target EU partners of India-based exporters, especially in countries with strong legislation for carbon disclosure: Denmark, UK, Germany, France
- Target SMEs/manufacturing units in emerging countries exporting to the EU: Bangladesh, China
- Any other development: High-growth market, eProspects will need to be educated on carbon accounting