Self-billed as an “emissions accounting engine”, Stockholm-based Normative has netted €10 million and is aiming to take on the widespread practice of greenwashing, holding businesses truly accountable for their environmental impact. No indication was given as to what the startup plans to do with the new investment, but to date, the firm has raised approximately €11.8 million.
Now, let’s strip away that “emissions accounting engine” jargon and call it like it is, shall we? Normative uses AI combined with a proprietary sustainability research database (one the company claims to be the world’s largest) and compiles a complete overview of the company’s climate footprint, ultimately aiding in a reduction of greenhouse gas emissions.
Oddly enough, according to the press release, Normative is claiming to be “the world’s first emissions accounting engine”, which might be the case. And by case, I mean the world’s first to use this nomenclature, as off the top of my head, I can think of Draper Esprit-backed Cervest, LocalGlobe-backed Supercritial, and CommerzVentures-backed ClimateView that are all offering companies a barometer of one flavour or another that helps them up the environmental accountability factor.
To be fair, Normative does count UK’s SME Climate Hub, a part of the United Nations Race to Zero campaign as a client, a feather in just about any cap.
Normative’s Series A round was led by 2150 and ETF Partners with existing investors Lowercarbon Capital, ByFounders, and Luminar Ventures also participating in the round.
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