By Steve O’Hear
Normative, a startup that lets companies automate their carbon reporting — and in turn help them decrease their environmental footprint — has picked up $2.1 million in seed funding.
Backing the Stockholm-based company is ByFounders, with participation from Soundcloud co-founder Eric Wahlforss, Luminar Ventures, and Wave Ventures.
The modest injection of capital will be used by Normative to “accelerate growth” and expand to key markets in the EU and the U.S.
Billed as wanting to become the “Quickbook of carbon reporting,” Normative is a SaaS that plugs into various data — both a company’s internal systems and external databases on the environmental impact of good and services. It then automatically calculates carbon usage and emissions for reporting purposes, which is traditionally a time consuming and costly process. Existing clients include Summa Equity, Bonava and Ikano.
“It is widely recognized that corporate activities are by far the largest contributor to climate change,” Normative co-founder and CEO Kristian Rönn tells TechCrunch. “To use my own country as a case study, H&M, Ericsson and Electrolux reportedly have larger CO2 emissions than the entire population of Sweden put together. This highlights the reality that in order to mitigate climate change, large companies need to mitigate their …read more
Source: Tech Crunch