A Finnish climate software company Kausal has successfully raised €880,000 in seed funding from an investor consortium including Innovestor and Spanish impact fund Zubi Capital. The company provides local governments with a software-as-a-service (SaaS) project management platform that lets them plan, track and coordinate sustainability measures and efficiently implement them.
Founded in 2020 by co-founders Sonja-Marja Ignatius, Juha Yrjölä, Jouni Tuomisto, and Tero Tikkanen, Kausal sees that cities’ need for transparent progress tracking and internal coordination for their sustainability strategies is large and growing. Many citizens are requiring urgent actions and transparency about what their city is doing for a sustainable future. Advanced cities are not only focusing on cutting climate emissions and on adaptation, but are also addressing related problems such as local biodiversity preservation and enhancing economic circularity.
However, the common practice of tracking sustainability projects with spreadsheets and only reporting progress publicly through annual reports lacks transparency and accuracy. The data collected is also often outdated, as many organizations only track it once every couple of years. Given the urgency of climate change and related sustainability challenges, organizations need to stay on top of what’s going on and make changes quickly. With Kausal’s technology, city governments can set clear sustainability targets, build actionable plans, and help both administrators and citizens stay on track of progress.
The seed funding will help Kausal build on sales and marketing in the DACH region and North America, markets where they have seen a significant need for more efficiency in public sustainability work. Kausal will also develop its platform to make it easier to use for cities and governments of all sizes, providing impact assessment of different policy measures and supporting decision-making.
“Our investment in Kausal underlines Innovestor’s dedication to a sustainable future. Kausal’s diverse clientele, spanning cities and governments worldwide, actively strives to reduce carbon emissions and enhance climate resilience. Kausal’s platform not only aids its clients in achieving their climate objectives but also has the potential to support a wider range of sustainability goals. The team’s already impressive achievements represent merely the initial phase of the journey as they scale into new markets,” says Myron Seto, Partner at Innovestor.
Read more:
Press Release Kausal, Tue 31st of October 2023
For additional information:
Myron Seto
Partner, Innovestor Venture Capital
myron.seto@innovestor.fi
Kausal
Founded in Helsinki in 2020, Kausal helps cities turn their climate goals into action through a digital platform that enables smarter collaboration around key data. Kausal provides Software-as-a-Service to cities globally, enabling them to set climate targets, create actionable climate plans, and successfully implement them. Kausal’s solutions make climate efforts visible to everyone and engage the community by bringing all stakeholders together, improving decision-making.
Currently, Kausal is a diverse team of 17 people from 10 different nationalities. The team works fully remotely and is currently based in Finland and Austria. Kausal serves a wide range of customers, including small and large public sector organizations in Europe, North America, and Australia. To date, the company has raised €1,1M from Vaens Oy, Innovestor Technology Fund, Zubi Capital, and a syndicate of Nordic VCs and angel investors.
www.kausal.tech
Innovestor is a Finnish investment company focusing on venture capital and real estate. In addition, we offer corporate venturing services. The firm currently manages four VC funds with total capital of over €200 million. Consisting of almost 100 growth companies across multiple sectors of technology and life science & health, it represents one of the largest private venture-backed portfolios in the Nordics. Our mission is to make good money. For more information visit www.innovestorgroup.com LinkedIn Twitter