Stockholm-based Klimato, a carbon management software company for the food industry, announced on Friday that it has raised €4.2M in a fresh round of funding.
Food-related CO2 emissions account for nearly one-third of total global emissions. Klimato allows food service companies, eateries, and food manufacturers to measure, record, and decrease carbon pollution from food.
The foodtech company claims that it is currently used by over 500 food businesses in 12 nations and has helped them decrease their CO2 emissions by an average of 23 per cent in 2022.
Investors in this round
The round was led by Global Cleantech Capital (GCC) with participation from existing investor Almi Invest GreenTech, among others.
Emil Mahjoub, Investment Manager at GCC, says, “We are impressed by Klimato’s strong growth, the successful start of the international expansion, and their commitment to sustainability.”
“Klimato helps the food industry make data-driven decisions about carbon emissions, and is already a business-critical partner to leading organisations such as Sodexo, Compass Group, and Violife across the Nordics, the UK, and beyond,” adds Mahjoub.
Klimato: Everything you need to know
Founded in 2017 by Anton Unger and Christoffer Connée, Klimato’s software assists food workers and consumers in accessing and comprehending sustainability statistics.
Its cloud-based software helps in measuring, reporting, and reducing carbon impact. It does that by automating the carbon accounting procedure through the use of research-based data, making it quicker, simpler, and more precise.
The software also includes a dashboard that enables users to monitor their emissions and find ways to decrease them.
Additionally, Klimato makes emissions visible via tools used in recipe creation and purchase, and Klimato’s climate sticker displays the carbon impact per meal.
Klimato reports that in 2022, 57 per cent of all meals provided by its clients were climate-friendly (0.5 kg CO2e or less) compared to the world average of 1.7 kg CO2e.
The company’s clients include some of the world’s largest food service providers such as Sodexo and Levy (part of Compass Group), hotels like Hilton and Marriott, restaurants such as KFC and Bastard Burgers, and food producers like Unilever’s subsidiary Violife.
Fund utilisation
Klimato says it will use the funds to fuel its expansion, both in current markets and into new markets such as Germany, France, and the US. The startup aims to become the global market leader for sustainability services in the food industry.
Klimato claims to also add more sustainability indicators to its product line.
Unger says, “This investment will help us strengthen our market position and achieve our mission of reducing the climate impact of food. We will expand globally with our existing and new customers while continuing to develop our product to become the worldwide market leader for sustainability services in the food sector.”
