Smart city digital twin developer raises €10m

Smart city digital twin developer raises €10m

Business news |
By Nick Flaherty

Stockholm startup ClimateView has raised €10m to expand the development of its digital twin software for smart cities.

Newcastle in the UK, Mannheim in Germany and Bern in Switzerland are among 34 cities in six countries across Europe and Canada using the ClimateOS platform to cut emissions and meet climate targets.

The funding will used to expand in Europe, North America and beyond. It is about to pilot functionality that will allow cities to identify the costs of each of the numerous shifts they can take to cut emissions, from encouraging uptake of EVs and the rollout of charging stations to retrofitting old buildings to make them more energy efficient.

ClimateOS is already used by cities in Sweden, the UK, Germany, Switzerland, Spain and Canada. It creates a digital twin city from 140 elements reflecting the complexity of each city’s economy, populated with the best data available from national and international statistics and the city’s own sources. The database is regularly updated and saves cities the time-consuming work of gathering this data themselves.

The Series A funding round was led by CommerzVentures and NordicNinja, a Nordic-Japanese venture capital fund. Norrsken, 2050.VC and Gaingles also took part in the round, building on €4.5 million raised in ClimateView’s seed rounds and taking the company’s total investment to €14.5 million.

ClimateOS was first piloted as Panorama, a climate dashboard that the Swedish government uses to make its decarbonisation plans publicly available. ClimateView developed it for the Swedish Climate Policy Council, the independent body which assesses whether government policy is in line with its climate goals.

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“Cities around the world are placing carbon reduction at the heart of their agenda and looking to cut emissions across every sector of their economy. ClimateView’s technology makes this complex challenge manageable, enabling effective decarbonisation strategies that can deliver thriving and sustainable economies – an essential tool for any global city. ClimateView has unlocked the vital ability for cities to win greater investments into robust climate action plans and we’re delighted to be investing in this essential business,” said Paul Morgenthaler, Partner at CommerzVentures.

“The wholesale decarbonisation of a city is something that’s never been done before and the challenge is absolutely enormous. ClimateView gives us the platform we need to develop and roll out an ambitious climate action plan. By breaking the net zero challenge down into bite-size chunks you can understand how each will contribute to cutting carbon, start setting year by year transition targets, and then build a robust set of actions on this framework,” said Tim Rippon, Senior Climate Change Advisor with Newcastle City Council.

Dominik Stroh, Project Manager, Climate Protection Monitoring, Mannheim City, said: “ClimateView supports Mannheim’s transition to becoming a climate-neutral city by giving us a clear picture of where our emissions come from and the shifts we can make to reduce them. The unique benefit of its technology, for us, is that it intelligently links data from numerous activities so we can create a holistic, citywide plan of action.”

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