Deeds adds fresh funding, closes more than $1M in 6 months.
Deeds, a Stockholm, Sweden-based company working to launch a mobile app for energy saving, announced securing SEK 6M ($710k) in seed funding from undisclosed private investors located in Toronto, London, Amsterdam, Manila, Copenhagen and Stockholm,
According to the company, contacted by Nordic 9, the money adds to the SEK 2.3M ($270k) raised in the summer of 2017, thus totalling a $1M capital investment which will be used for finishing the product and taking it to the market.
At the same time, Deeds also received more than a SEK 1M ($120k) in grants from the Swedish Environmental Protection Agency and from Vinnova to develop the version for municipalities and organizations.
Deeds was founded as SDG12 in 2016 by Monika Martinsson, Niclas Persson (CEO), Anders Åkerlund and Daniel Dellham. The company works on a digital platform that will be able to keep track of the user's carbon footprint and encourage a more sustainable lifestyle, like choosing train travel instead of a flight. The estimated time of launch of the product is in the first part of 2018.