The Swedish start-up says its platform is now being used by 30 cities and municipalities in six countries across Europe and North America.
ClimateView, a Swedish start-up aiming to help cities plan their decarbonisation, has closed a €10m Series A funding round.
The round was led by fintech investor CommerzVentures and NordicNinja, a Japanese and Nordic VC fund. Norrsken, 2050.VC and Gaingels also participated.
ClimateView raised a €2.3m funding round in April 2020 and closure of this latest round brings the total invested in the company to date to €14.5m.
The funding will be used to further develop the start-up’s ClimateOS software platform and expand its business in the US and Europe.
The platform was developed by ClimateView for the Swedish government and launched early in 2021. The company says it’s now being used by more than 30 cities and towns across Sweden, the UK, Germany, Switzerland, Spain and Canada.
The software allows cities, including Newcastle and Bern, to model their economy and infrastructure and test how different initiatives could contribute to decarbonisation.
With the new funding, ClimateView plans to develop and release new features early next year. These will include modelling the cost of green policy initiatives, and better understanding benefits such as clean air and improved public health.
Tom Rippon, senior climate adviser to Newcastle City Council, said: “The wholesale decarbonisation of a city is something that’s never been done before and the challenge is absolutely enormous.
“ClimateView gives us the platform we need to develop and roll out an ambitious climate action plan. By breaking the net zero challenge down into bite-size chunks, you can understand how each will contribute to cutting carbon, start setting year-by-year transition targets, and then build a robust set of actions on this framework.”
Paul Morgenthaler, a partner at CommerzVentures, added: “Cities around the world are placing carbon reduction at the heart of their agenda and looking to cut emissions across every sector of their economy.
“ClimateView’s technology makes this complex challenge manageable, enabling effective decarbonisation strategies that can deliver thriving and sustainable economies. ClimateView have unlocked the vital ability for cities to win greater investments into robust climate action plans and we’re delighted to be investing in this essential business.”
Last week, climate-focused agritech start-up Iron Ox secured backing from Bill Gates’ investment fund.
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