Normative raised $2.1M from byFounders and Luminar Ventures.

Normative, a Stockholm, Sweden-based startup developing a software solution compiling sustainability reports for corporates, announced the completion of a $2.1M capital investment round.

The backing was provided by investors from Scandinavia, including byFounders, Luminar Ventures, Wave Ventures and angel investor Eric Wahlforss.

The money will be used to expand the company's business in the EU countries and the North American market.

Normative, founded in 2014 and led by CEO Kristian Rönn, built a software as a service solution available for companies to analyses their own or external data about the environmental impact of goods and services. The product automatically calculates carbon usage and emissions for reporting purposes, which is traditionally a time consuming and costly process.

The company behind Normative, Meta Mind AB, is profitable, at a 2018 turnover of almost $1M (SEK 7.6M) coming from clients such as Summa Equity, Bonava and Ikano.