Norwegian tech company Kvist has secured €1.3m in funding to simplify sustainability reporting for the construction and real estate sectors.
The investment round saw participation from both new and existing investors, including Kiilto Ventures, DNB Ventures, Alliance Venture, Ferd, Arkwright X, and Squid.
Kvist’s platform aims to streamline compliance with increasingly stringent EU regulations, including the Corporate Sustainability Reporting Directive (CSRD), Sustainable Finance Disclosure Regulation (SFDR), and EU Taxonomy.
These frameworks require large companies and financial institutions to measure and report their sustainability performance, affecting the entire value chain.
The construction and real estate sectors, significant contributors to global greenhouse gas emissions, energy use, and waste generation, face complex compliance challenges under these regulations.
Kvist’s technology is designed to help companies align with these regulations and green building certifications efficiently, potentially saving clients hundreds of hours per project while improving environmental outcomes and data quality.
Matti Rönkkö, Managing Director at Kiilto Ventures, emphasised the importance of such solutions, said: “We see that existing and upcoming regulation in the built world is key for making it more sustainable.
“At the same time, we see the massive workload and the pain of collecting the required data and metrics.”
Kvist plans to use the funds to strengthen its market position and accelerate growth.
As sustainability reporting becomes increasingly crucial in the construction and real estate sectors, Kvist’s platform could play a significant role in facilitating the industry’s green transition while simplifying compliance with complex EU regulations.
