Stockholm-headquartered startup ClimateView has secured €14 million in funding to spearhead a transformation in climate finance. The startup aims to expedite cities’ shift towards zero carbon economies by leveraging data and systemic analysis, empowering them to strategize, oversee, and finance the transition to net-zero. Investors, including 2050, 115K (La Banque Postale), Sandwater, and PolarStructure, alongside existing backers CommerzVentures, NordicNinja, SEB Greentech VC, Norrsken VC, Hampus Jakobsson, and Daniel Sachs, have joined forces with ClimateView to bridge the gap between climate action plans and available capital through their proprietary platform, ClimateOS.
ClimateView’s ClimateOS platform provides an innovative solution for municipal officials, enabling them to translate qualitative plans into quantitative data. This data plays a critical role in measuring the impact of climate initiatives, calculating costs and co-benefits, issuing financial instruments, and reporting on investments. The absence of coordination and fragmented frameworks in both public and private sectors currently hamper collaboration and hinder progress in building climate resilience.
Marie Ekeland, Founder of 2050, emphasizes, “We are halfway to 2030. If we want to genuinely change the world, we need to transform its financing methods.”
Kristina Söderberg, Investment Manager at SEB Greentech VC, underscores the significance of the climate transition for cities and local governments, stating, “The climate transition is a responsibility for all of society, including cities and local governments, and their investments today will have effects for generations to come. Local governments worldwide are in need of a systematic tool for bridging their climate actions with available capital in order to speed up the transition into greener cities.”
Kristian Melhuus, Partner at Sandwater, highlights the challenge faced by governments and cities in coordinating a wide range of stakeholders, and the necessity of ClimateView’s platform: “We see that governments and cities are eager to reach net-zero. But coordinating such a broad range of stakeholders is a near impossible task, and the local capacity to tackle the financing challenge is falling short. ClimateView has developed a unique, dynamic, and transparent platform for cities to model, plan, and finance their emissions cuts. It is our first investment within the climate finance and management space, and we strongly believe that the product—and the fantastic team behind it—will make a significant contribution to accelerating the transition in cities.”
Paul Morgenthaler, Managing Partner at CommerzVentures, highlights the importance of reporting on both environmental and financial aspects when raising green financial instruments, praising ClimateView as the solution for verification: “When raising green financial instruments, it is crucial to report on the environmental and financial aspects, showing the effective allocation of funds. ClimateView emerges as the solution for verification. With ClimateView, we tap into existing data to drive transparency and maximize impact.”
NordicNinja’s Managing Partner, Tomosaku Sohara, draws attention to the scarcity of tools available for implementing climate goals and emphasizes ClimateView’s role in bridging the gap between local governments and climate financing: “Many climate goals have been set, and requirements established—but few tools are available. Implementation is missing. ClimateView develops an interoperable solution that bridges the gap between local governments and climate financing. Think of it like this: Instead of actors learning a new financial language, actors can use a Google Translate to talk to each other. That is why we believe investing in them can put revolutionary potential in motion.”
Laure de Buyer, Investment Manager at 115K – the VC fund of La Banque Postale, comments on the necessity for quantitative data for raising funds and expresses support for ClimateView’s mission: “We see how local governments in France and Europe need to have quantitative data to raise funds. Through this investment in ClimateView, we actively support cities in taking impactful climate action. The company simplifies cost-benefit analysis, forecasting, and financial reporting for cities, enabling them to forge stronger partnerships with banks and financial institutions to identify and invest in local and long-term projects.”