Success stories

Transforming ESG Risk Management: How KloudPortal Helped LOCOMeX Achieve Success

6 Mar, 2025
In the rapidly evolving landscape of Environmental, Social, and Governance (ESG) compliance, innovation is key to staying ahead. LOCOMeX, a US-based ESG SaaS startup, faced significant challenges in developing its AI-based ESG risk scoring tool. Despite investing $200K USD, they had no viable product to show for it. That was until they partnered with KloudPortal, a technology leader in SaaS product development and AI solutions. In this blog, we explore how KloudPortal transformed LOCOMeX’s vision into a market-ready success story.

The Challenge: Overcoming Development Hurdles

LOCOMeX’s journey was marked by inefficiencies in vendor collaboration, budget mismanagement, and a lack of tangible results. Despite the urgency to launch a product, they struggled with complex AI/ML requirements and third-party integrations. The absence of a working prototype or MVP after three years of effort was a significant setback.

ESG risks, particularly environmental risks through transition and physical risk drivers, pose significant challenges to the safety and soundness of financial institutions
Thomson Reuters

The Solution: KloudPortal’s Strategic Approach

KloudPortal stepped in with a comprehensive strategy to address these challenges:

1. AI-Powered ESG Risk Scoring:

  • Developed sophisticated algorithms to assess ESG risks at the supplier level.
  • Integrated sustainability risk scoring features for comprehensive supply chain evaluations.

2. Project-Based ESG Scoring:

  • Created the market’s first project-level ESG scoring tool with auditable, investment-grade data for scope 3 emissions reporting.

3. Third-Party Integrations:

  • Seamlessly integrated external systems to enhance functionality and scalability.

4. MVP Development:

  • Released two Minimum Viable Products (MVPs) within the agreed timeline, enabling LOCOMeX to onboard small B2B businesses.

5. Scalable Architecture:

  • Designed a scalable framework to support future enterprise customers.

Results: Achieving Success with KloudPortal

The partnership yielded impressive results:
1. Agile MVP Releases:

  • First MVP Released in 6 Months: Demonstrated rapid development capabilities and early market entry.
  • Second MVP Released in 10 Months: Further refined the product based on user feedback and market insights.

2. Cost Efficiency:

  • Achieved a 275% reduction in operational costs by executing releases entirely in India, optimizing resource utilization.

3. Business Impact:

  • Market Launch in 10 Months: LOCOMeX successfully launched its product, marking a significant milestone after three years of development efforts.
  • Go-to-Market (GTM) Strategy: Planned and executed initial steps of the GTM strategy, which generated market traction.
  • Demo Videos of Working MVP: Created demo videos showcasing a functional MVP, a crucial milestone that helped attract potential customers and investors.

Conclusion: A New Era in ESG Risk Management

KloudPortal’s strategic approach transformed LOCOMeX’s vision into a market-ready reality. By addressing key challenges and delivering cutting-edge AI/ML features, KloudPortal enabled LOCOMeX to establish itself as a pioneer in ESG risk management solutions. This success story highlights KloudPortal’s ability to drive innovation, reduce costs, and deliver impactful results for its clients in complex domains like ESG compliance and sustainability.

Ready to Transform Your Business?

If you’re facing similar challenges in developing your SaaS product or need to integrate AI/ML solutions, consider partnering with KloudPortal. Our expertise in agile development and AI technologies can help you achieve your business goals efficiently and effectively. Contact us today to explore how we can help you succeed in the ever-evolving tech landscape.