UTI-lizer secures 7 MSEK – to commercialize its first product
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Continues Rapid Expansion on the Mission to Reduce CO2 Emissions in the Global Food Industry
Klimato, a leading carbon management software company for the food industry, has raised €4.2 million to continue its international expansion, helping the global food industry decrease their CO2 emissions. Klimato enables food service providers, restaurants, and food producers, such as Sodexo, Hilton, and Violife, to measure, report, and reduce carbon emissions from food. Klimato’s proprietary cloud-based platform is used by over 500 food businesses in 12 countries and has helped them decrease their CO2 emissions by an average of 23% in 2022. The financing round was led by Global Cleantech Capital (GCC) with participation from existing investor Almi Invest GreenTech.
Klimato has developed a proprietary cloud-based software platform that helps food service providers, restaurants, and food producers measure, report, and reduce their carbon footprint. Using research-based data, the software automates the carbon accounting process, making it faster, easier, and more accurate. It also provides a comprehensive dashboard that allows users to track their emissions and identify actions to reduce them. Klimato has grown rapidly since launching in 2018, helping to reduce the carbon footprint of some of the world’s largest food service providers such as Sodexo and Levy (part of Compass Group), hotels like Hilton and Marriott, restaurants as KFC and Bastard Burgers, and food producers like Unilever’s subsidiary Violife, the largest plant-based food company in the world. Today, Klimato is used by 500 food businesses in 12 countries on three continents.
CO2 emissions from food constitute about one third of global emissions. Klimato’s solution makes these emissions transparent to chefs, purchasing managers, and consumers – through user-friendly tools that are used in recipe creation and procurement, and Klimato’s climate label with the carbon footprint per dish. Through inspiring chefs and nudging guests in the restaurants, the average emission per dish on Klimato’s platform decreased by 23% in 2022, from 1.1 kg CO2e to 0.8 kg CO2e. 57% of all the dishes that Klimato’s customers served in 2022 were climate friendly (0.5 kg CO2e or below), compared to the global average of 1.7 kg CO2e.
The investment of € 4.2 million will accelerate Klimato’s growth – both with existing customers and into new markets, such as Germany, France, and the US – aiming to become the worldwide market leader for sustainability services in the food sector. Klimato will also expand its product offering with more sustainability indicators. The financing round was led by Global Cleantech Capital (GCC), a Netherlands-based investor in growth-stage companies focused on sustainability and clean technology, with continued participation from Almi Invest Greentech and other existing shareholders.
“We are impressed by Klimato’s strong growth, the successful start of the international expansion, and their commitment to sustainability,” said Emil Mahjoub, Investment Manager at GCC. “Klimato helps the food industry make data-driven decisions about carbon emissions, and is already a business-critical partner to leading organizations such as Sodexo, Compass Group, and Violife across the Nordics, the UK, and beyond. We are excited to collaborate with the management team and existing investors to help realize Klimato’s ambitious global growth plans.”
“Klimato has the potential to drive the food sector in a sustainable direction at a large scale. Since our first investment in Klimato in 2021, we have been impressed by the yearly impact we have seen for Klimato’s customers, last year an average decrease in CO2 emissions per dish by 23 percent. We are thrilled that our investment will allow Klimato to expand further and help the food industry with a faster transition,” said Karin Edström, Investment Manager, Almi Invest GreenTech.
“We are delighted to welcome GCC as a new investor and the for the continued support from Almi Invest Greentech,” said Anton Unger, CEO and co-founder of Klimato. “Their support will enable us to further develop our technology and accelerate our growth. 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”
Klimato provides a user-friendly tool that helps food professionals and consumers access and understand sustainability data. Among the customers there are food service providers like Sodexo and Levy (part of Compass Group), hotels like Hilton and Marriott, restaurants like Bastard Burgers and KFC and food producers like Violife. Klimato is used by around 500 food businesses in 12 countries.
About Global Cleantech Capital
Global Cleantech Capital is a growth equity firm based in Amsterdam, investing to scale exceptional companies into new market leaders in the clean energy, mobility, smart cities, and fintech sectors in Europe and North America. Investing over USD 900 million, the GCC team has a track record of delivering attractive returns paired with ESG impact. GCC is domiciled in the Netherlands and registered with the Dutch Authority for the Financial Markets (AFM).
About Almi Invest
Almi Invest is Sweden’s most active investor in startups. We make investments throughout the country via 8 regional venture capital companies and one national venture capital company within GreenTech. Almi Invest manages approximately SEK 3.5 billion and has invested in approximately 660 startups since its inception. Our best holdings have been acquired by, among others, Google, Microsoft, Qlik and Apple or listed on various stock exchanges. Almi Invest is a venture capital company within the Almi Group and part-financed by the EU structural funds.