ClimateView secures €14M funding to enhance development of climate finance platform

Einar Bodström, CEO and Co-Founder of ClimateView, when receiving the AI and Technical Edge Award in Techarenan Challenge 2021.

Stockholm-based climate action tech start-up ClimateView has raised €14 million in funding to enhance its climate finance platform and support cities’ climate investment planning as part of the European Union’s “100 Climate-neutral and Smart Cities” program.

Headed by 2050, the funding round involves notable participants such as 115K (La Banque Postale’s VC fund), Polar Structure, Sandwater and existing investors like NordicNinja, CommerzVentures, Norrsken VC, SEB Greentech VC, Daniel Sachs and Hampus Jakobsson.

“We are bringing something to the market that hasn’t really existed before,” CEO and co-founder of ClimateView, Einar Bodström said.

“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 platform

ClimateView’s SaaS-based subscription platform ClimateOS allows cities to efficiently organise and manage their climate action plans. It has gained popularity among over 30 cities, including prominent ones like Madrid, Dortmund, Cincinnati and Nottingham.

The platform offers critical analysis to city treasuries, financial institutions and investors. This analysis is essential for securing the necessary financing and funding to support and implement these plans.

Bodström pointed out that institutions engaged in climate finance had varying expectations regarding reporting, risk assessment, financing criteria and infrastructure standards.

According to him, however, the common denominator was that cities had a higher chance of securing funding when they took a quantitative approach.

The CEO said the company wants to build upon its established foundation with citizen governments worldwide. According to him, ClimateView aspires to ensure its work is highly relevant and appealing to the quantitative analysis teams within banks and risk managers at pension funds.

He believed that these professionals are specifically interested in verified green investments and aim to allocate capital strategically to have a significant impact.

“That’s where capital wants to go but it has very little guidance – essentially this is what we built this for,” he said.

Commenting on the matter, the founder of 2050, Marie Ekeland, highlighted that cities were facing a deficit of 90 percent in the funds required for their transition, even though they were halfway to the year 2030.

“ClimateView has an incredible opportunity to scale their impact globally, helping cities unlock the funding they need,” she said. “We are excited to support them again to drive innovation in this critical area.”

Techarenan News/Monok

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