Normative raises €31 million in a Series B funding round led by Blume Equity, joined by Horizons Ventures, Future Five, ETF Partners and 2150.

Normative, a Stockholm, Sweden-based startup developing a software solution compiling sustainability reports for corporates, raised series B equity round closed at €31 million ($31.6M).

The money was raised from investors led by Blume Equity, and joined by 2150, ETF Partners Horizons Ventures and Future Five.

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.

Normative raised series A in a round closed at €10 million in 2021 and was seeded with $2.1 million. Other investors include Lowercarbon Capital, ByFounders, and Luminar Ventures.