Our portfolio company Normative has raised €31m to support businesses on their journey towards net zero!
We’re excited to announce that our portfolio company Normative, the world’s most accurate carbon accounting engine, has raised €31m to support businesses on their journey towards net zero! 💚 🌎
We’re also delighted to welcome new investors Blume Equity and Horizons Ventures onboard alongside our friends and current investors 2150 and Future Five!
Research shows that companies estimate an average error rate of up to 40% in their manual emissions measurements resulting in a huge accuracy gap in current reporting. This means that despite the number of businesses committing to net zero being on the rise, there is still a huge amount of involuntary greenwashing. Normative is uniquely positioned to help businesses on their journeys to net zero due to the unparalleled level of accuracy it provides.
Speaking on the announcement Kristian Rönn, CEO of Normative.io, said:
“There is a real urgency for businesses to take genuine climate action, and genuine climate action is about getting the fundamentals right: what gets measured, gets managed. This is an incredibly important process, particularly when it comes to calculating scope 3 emissions, which is why we at Normative are building the most compliant and audit-ready product on the planet – making it easy for businesses to do the right thing. We’re thrilled to announce this latest funding round, which will enable us to continue our vital work.”
Read more on this exciting announcement in Bloomberg News HERE.