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SEB investing in company to reduce carbon footprint from cities

SEB Greentech is investing in ClimateView, a Swedish company that has developed a dynamic planning and visualisation tool that helps cities and municipalities reduce their carbon footprint in accordance with global climate targets.

“Cities account for more than 70 per cent of the world’s total carbon emissions if you include housing, production, consumption, transportation and infrastructure. They stand before an enormous challenge and ClimateView has created a solution that helps climate planners and decision-makers in cities create a dynamic and transparent climate action plan,” says Kristina Söderberg. She is an investment manager at SEB Venture Capital and is working together with Markus Hökfelt, Head of SEB Greentech, with the investment.

The company has its genesis in a project that was conducted in collaboration with the Swedish Climate Policy Council, the Swedish Environmental Protection Agency and the Swedish Energy Agency to develop a tool for visualising Sweden’s climate transition. Based on this, ClimateView was established, which today has 35 employees. This past spring the company launched its ClimateOS platform, which is currently being used by more than 30 cities in six countries.

“ClimateOS helps decision-makers gain a current picture of a city’s carbon footprint, the investments that need to be made to achieve its targets, the effects various measures have from a climate and economic perspective, and how these interact with each other,” says Kristina Söderberg.

Funding round

In recent days ClimateView completed a funding round worth EUR 10m, where SEB has participated as one of three lead investors together with CommerzVentures and NordicNinja VC. The capital will be used primarily for expansion to more markets in Europe and North America, and for continued technological development.

“We will be an active participant and long-term funder of this company, and we hope we can also contribute to its work on green financing. Enormous investments will be needed if cities are to help mitigate the climate crisis,” says Markus Hökfelt.

Fourth investment

This is SEB Greentech’s fourth investment, and a total of SEK 70m of the company’s initial investment capital of SEK 300m has been used.

Previous investments have been made in EngineZyme, which works with sustainable chemicals production, CorPower Ocean, which develops technology for wave energy, and C-Green, which converts sludge and other biomass to environment-friendly bio-coal.

“The three previous investments have been in specialised solutions company,” note Markus Hökfelt. “We are now investing in a climate planning platform where cities can transparently share information that benefits everyone. This shows the breadth of our portfolio.”

Read more about ClimateView here: https://www.climateview.global/

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