# Normative

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/normative

- Industry: Software
- Headquarters: Stockholm, Sweden
- Website: www.normative.io
- Total disclosed funding: $45M
- Latest round: Series B (Jul 21, 2022)
- Investors on record: 8

## About

Normative AB is a carbon accounting software provider that automates carbon emissions calculations and compliance reporting, helping businesses achieve sustainability goals while navigating regulatory complexities.Founded in 2014 in Stockholm, Sweden, Normative AB specializes in carbon accounting solutions. The company was co-founded by Adam Egesa, Kristian Rönn, and Robin Undall-Behrend, with Kristian Rönn currently serving as CEO. Normative has successfully secured EUR 31.00 mn in Series B funding led by Blume Equity on July 21, 2022, with additional participation from Horizons Ventures, ETF Partners, and 2150. The total amount raised by the company now stands at EUR 31.00 mn across three deals.Normative provides a comprehensive carbon accounting platform that automates the calculation of carbon emissions and streamlines compliance reporting, aimed at businesses navigating the complexities of sustainability. The platform captures a full spectrum of carbon emissions across various value chains, including direct operations and supply chain impacts. Normative serves a diverse client base that includes market leaders in sectors such as hospitality, manufacturing, finance, and professional services. Its carbon accounting engine is built on scientific principles, ensuring accuracy and reliability in emissions measurement, particularly targeting Scope 1, 2, and 3 emissions, and is utilized globally with a focus on European markets where regulations such as the Corporate Sustainability Reporting Directive (CSRD) and the Carbon Disclosure Project (CDP) are prominent.In the most recent year, 2022, Normative reported a revenue of EUR 2,273,864.10, while also recording an EBITDA of EUR -10,255,634.40, indicating the financial dynamics associated with its growth phase.Following the successful Series B funding round in July 2022, Normative AB plans to utilize the EUR 31.00 mn raised to expand its business reach and enhance its capacity to provide accurate data for measuring and reducing emissions in the supply chain. The company is focused on launching new features in its carbon accounting platform and plans to enter additional European markets by late 2023, aiming to support businesses in meeting evolving regulatory requirements.

## Funding rounds

- Series B, Jul 21, 2022, $32M — ETF Partners, Horizons Ventures, Blume Equity, 2150
- Series A, Oct 6, 2021, $12M — ETF Partners, byFounders, Luminar Ventures, Lowercarbon Capital, 2150
- Seed, Sep 18, 2019, $2.1M — Wave Ventures, byFounders, Luminar Ventures

## Investors

- Wave Ventures — Seed
- byFounders (https://capitalatlas.ai/funds/byfounders) — Seed, Series A
- Luminar Ventures (https://capitalatlas.ai/funds/luminar-ventures) — Seed, Series A
- ETF Partners (https://capitalatlas.ai/funds/etf-partners) — Series A, Series B
- Lowercarbon Capital (https://capitalatlas.ai/funds/lowercarbon-capital) — Series A
- 2150 (https://capitalatlas.ai/funds/2150) — Series A, Series B
- Horizons Ventures — Series B
- Blume Equity (https://capitalatlas.ai/funds/blume-equity) — Series B