ClimateView, a climate action tech start-up based in Stockholm, has completed a €14 million funding round to fuel development of its climate finance platform and to ‘support cities in their climate investment planning needs as part of the EU’s innovative program – 100 Climate-neutral and Smart Cities‘.
“We are bringing something to the market that hasn’t really existed before,’ says Einar Bodström, CEO and co-founder of ClimateView. “We have remarkably strong ‘word of mouth’ – and this is the reason we chose to work with cities, because cities all want each other to succeed,”
ClimateOS is ClimateView’s SaaS-based subscription platform enabling cities to best organise and orchestrate their climate action plan. It is currently used by over 30 cities including metropoles like Madrid, Dortmund, Cincinnati and Nottingham. It provides ‘city treasury, financial institutions and investors with the analysis they need to finance or fund the plan’.
“Institutions in climate finance have varying expectations in reporting, risk assessment, financing criteria and infrastructure standards. The common denominator, however, is that the chance of fundability increases when cities take a quantitative approach,” says Bodström.
“We want to take that foundation that we’ve built, together with citizen governments across the globe, and to make it so it really resonates with the quant desk of a bank, or a risk manager at a pension fund, that is looking at verified green investments, allocating capital to where it moves the needle,” he explains. “That’s where capital wants to go but it has very little guidance – essentially this is what we built this for.”
The funding round was led by 2050 and includes 115K (the VC fund of La Banque Postale), Sandwater, Polar Structure and existing investors CommerzVentures, NordicNinja, SEB Greentech VC and Norrsken VC.
“We are halfway to 2030, yet cities are missing nine out of every ten dollars needed for their transition. ClimateView has an incredible opportunity to scale their impact globally, helping cities unlock the funding they need,” says Marie Ekeland, founder of 2050. “We are excited to support them again to drive innovation in this critical area.”
“Through our investment in ClimateView, we actively support cities in taking impactful climate action.” said Laure de Buyer, Investment Manager at 115K. “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. With this investment, 115K unites two core elements of La Banque Postale DNA: climate impact and city financing.”
What is ‘the dream’ for ClimateView?
“It’s pretty straightforward – making a significant dent in this world,” says Bodström.
