Klimato, a GreenTech startup, has just received €4.2 million in funding. The startup plans to advance its goal of lowering the carbon footprint of the food business. The Swedish squad now intends to accelerate its global reach.
Global agriculture produces about one-third of greenhouse gas emissions and contributes to climate change. As we move towards a greener future, the food industry must transform for a sustainable world.
Klimato, a Stockholm-based company, seeks to assist in this. Klimato has created a platform to help restaurants calculate and report carbon footprint per dish. This helps consumers make eco-friendly food choices and provides industry insights.
A fresh investment round led by Global Cleantech Capital has brought in €4.2 million for Klimato. Additionally, participants included previous supporters such as Almi Invest Greentech.
“We are happy to welcome GCC as a new partner and for the ongoing support from Almi Invest Greentech, says Anton Unger, CEO and co-founder of Klimato. Their assistance will help us advance our technology and quicken our business’s development. We will be able to accomplish our goal of reducing the impact of food on the climate and strengthen our marketplace with the aid of this investment.”
Anton further added, “To become the global market leader for sustainability services in the food industry, we will continue to improve our product while expanding globally with both our current and new customers.”
Since its launch in 2018, Klimato has created a unique cloud-based software platform to address carbon emissions in the food industry. Furthermore, the software automates the carbon accounting process using research-based data, making it quicker, simpler, and more precise. Moreover, Klimato provides a comprehensive dashboard that empowers its users to track their pollutants and make informed decisions on how to reduce them.
The goal is to make carbon emissions visible to everyone along the value chain, including chefs, buying managers, and customers. Consequently, the platform allows food suppliers to assign a climate label to each dish.
Large food companies like Sodexo and Levy have expressed interest in Klimato. Hotels like Hilton and Marriott and restaurants like KFC are also interested.
Customers’ average dish emissions on Klimato’s platform dropped from 1.1 kg CO2e to 0.8 kg CO2e in 2022, a claimed 23% decrease. Compared to the worldwide average of 1.7 kg CO2e, 57% of all the dishes served by Klimato’s customers in 2022 were climate-friendly (0.5 kg CO2e or less).
Emil Mahjoub, Investment Manager at GCC said:
“We are impressed by Klimato’s strong growth, the beginning of the international expansion successfully, and their commitment to sustainability. Leading companies like Sodexo, Compass Group, and Violife already consider Klimato to be a business-critical partner across the Nordics, the UK, and beyond. Klimato also assists the food sector in making data-driven decisions about carbon emissions. We are eager to work with the management group and current investors to realize Klimato’s ambitious goals for global growth.”
With this additional financing, the startup plans to grow. It will expand into new areas like the US, Germany, and France. Additionally, Klimato has revealed intentions to expand the number of sustainability indicators in its product line.
According to Karin Edström, Investment Manager at Almi Invest GreenTech:
“Climate has the potential to significantly influence the food industry in terms of sustainability. It’s impressive for us by its yearly impact on customers since we invest. Last year, Klimato achieved an average reduction of 23% in CO2 emissions per dish, which is remarkable. We’re thrilled our investment will help Klimato grow and accelerate the food industry’s transition.
