ClimateView, the Swedish climate action technology company, has secured €10M in funding to enhance its ClimateOS platform and make it available in additional markets in Europe, North America and beyond. The funding round was led by CommerzVentures, the specialist fintech investor, and NordicNinja, the Nordic-Japanese venture capital fund. Norrsken, 2050.VC and Gaingles also took part in the round, bringing the company’s total investment to €14.5 million.

Launched at the start of 2021, ClimateOS was initially developed by ClimateView for the Swedish government to make their decarbonisation plans publicly available. Now supporting over 30 cities and municipalities across Sweden, the UK, Germany, Switzerland, Spain and Canada, ClimateOS helps a growing number of cities with net zero commitments identify the most cost-effective route to decarbonise their economies.

More than 700 cities have already committed to reaching net zero by 2050, but they have complex economies and to plan effective action they must understand emissions from thousands of activities and develop comprehensive plans to decarbonise key sectors such as transport, buildings, industry, energy and waste.

ClimateOS offers a unique range of functions that helps cities such as Newcastle, Mannheim and Bern develop, implement and manage comprehensive climate action plans and accelerate action to decarbonise their economy. It creates a digital twin city reflecting the complexity of each city’s economy, using the best data available from national and international statistics and the city’s own sources. It models the impact of low-carbon initiatives, allowing leaders to explore different ways of meeting their carbon targets, and identify the best transition path to meet local needs.

Tim Rippon, Senior Climate Change Advisor with Newcastle City Council, said: “The wholesale decarbonisation of a city is something that’s never been done before and the challenge is absolutely enormous. ClimateView gives us the platform we need to develop and roll out an ambitious climate action plan. By breaking the net zero challenge down into bite-size chunks you can understand how each will contribute to cutting carbon, start setting year by year transition targets, and then build a robust set of actions on this framework.”

The new funding will be used to roll out enhanced functionality in early 2022 which will allow cities to identify the costs of each of the numerous shifts they can take to cut emissions, from encouraging uptake of EVs to retrofitting old buildings to make them more energy efficient. It will also identify additional benefits, such as better health through cleaner air and warmer homes. This will make it easier for cities to make the economic case for their climate plans, minimise financial risk, and win support for investment. As well as developing the ClimateOS platform, funding will go towards driving further market expansion across Europe and into North America.

“Cities around the world are placing carbon reduction at the heart of their agenda and looking to cut emissions across every sector of their economy. ClimateView’s technology makes this complex challenge manageable, enabling effective decarbonisation strategies that can deliver thriving and sustainable economies. ClimateView have unlocked the vital ability for cities to win greater investments into robust climate action plans and we’re delighted to be investing in this essential business,” commented Paul Morgenthaler, Partner at CommerzVentures.

Tomosaku Sohara, Managing Partner at NordicNinja, added: “I understand the struggle cities face to identify their best route to climate neutrality and to coordinate action on many fronts. That’s why I knew the moment I met ClimateView that it has the solution cities all over the world are seeking. We are thrilled that our investment will allow it to expand globally and help cities make a faster transition to net zero.”

The founder and Chief Product Officer of ClimateView, Tomer Shalit, commented: “Cities have to cut carbon fast, but it’s hard to plan how to meet their commitments while maintaining a thriving economy. ClimateOS enables them accelerate climate action, helping them identify their best route to net zero, make the right investments, and manage a successful transition in one living climate action plan.”

About ClimateView

ClimateView is a Swedish climate action technology company that helps cities transform climate planning into progress. It combines data, agent-based modelling and interface design to help cities successfully manage the transition to net zero carbon economies. Visit www.climateview.global

About NordicNinja VC

Launched in 2019, NordicNinja VC is a series A focused €101M fund based in the Nordic-Baltic region. Combining Nordic innovation, Japanese networks, and Silicon Valley mindset, the fund was established to feed Japan’s hunger for digital innovation and offer the next set for global scaling. Visit www.nordicninja.vc

NordicNinja VC has made an investment in Varjo, the leader in industrial-grade VR/XR hardware and software. In this round of Series C funding, NordicNinja VC, TESI (FI), and Swisscanto Invest (CH) are among the new investors contributing to the round, in addition to follow-on investment participation from existing investors including Lifeline Ventures (FI), Atomico (UK), EQT Ventures (SE) and Volvo Cars Tech Fund. The company also announced the appointment of Timo Toikkanen (previously president and COO of Varjo) as the new CEO. Co-founder and previous CEO, Niko Eiden, will continue to drive the company’s technological innovations as CXO and a board member. In addition, NordicNinja Managing Partner Rainer Sternfeld will join the Board of Directors of Varjo.

“We are seeing tremendous demand for virtual and mixed reality use cases, particularly as much of the world continues to work remotely,” said Timo Toikkanen, CEO of Varjo. “When you combine the photorealistic resolution and accurate, integrated eye tracking found in our devices with the broad software compatibility we offer, the possibilities for creating, training and running research in immersive environments are endless. With support from our growing group of investors, we look forward to scaling our operations and delivering the cutting-edge technology our customers need to transform the way they work.”

Varjo has gained widespread international interest, with the United States and Japan becoming the main markets. NordicNinja will support this expansion, as well as add its expertise in 3D modeling, data management, and developer ecosystems. “We are strong believers in Varjo’s potential, which has already established itself as a proven industry leader,” says Rainer Sternfeld, Managing Partner at NordicNinja VC. “Varjo’s spatial computing platform leapfrogs developers’ ability to design and simulate complex products, both in the physical as well as the virtual world. It blends together real and virtual worlds in a seamless workflow like you have never experienced before, giving creators boundless opportunities to express their creativity.” “On top of the fact that Japan is already one of Varjo’s key markets, we will contribute to this journey by grasping further growth opportunities through collaborations with more Japanese enterprises,” added Shinichi Nikkuni, Managing Partner of Nordic Ninja VC.

With this latest infusion of capital, the company has raised a total of $100 million, which will allow Varjo to accelerate its global expansion and development of industry-leading hardware and software products. Varjo is the first and only company in the world to deliver human-eye resolution virtual and mixed reality devices to meet the most demanding enterprise applications across training and simulation, design and engineering and research. Already several global enterprises use the company’s XR-1 Developer Edition, VR-2 and VR-2 Pro devices to conduct immersive astronaut and pilot training, design the cars of the future, streamline product development, and more.

This round of funding comes on the heels of a year marked by company success and product innovation. Recent milestones include:

• Expansion of the company’s global operations and reseller network to over 40 countries in North America, Europe, the Middle East and Asia Pacific with the launch of sales and direct shipping to key markets including Singapore, Israel, South Korea, Australia and New Zealand.
• Strong quarter-over-quarter customer growth with new customer acquisition of visionary enterprise companies including Boeing Starliner, Siemens, KIA, and Lockheed Martin.
• A commercial partnership with MeetinVR to deliver photorealistic virtual collaboration, a much-needed solution for users to be able to collaborate remotely with colleagues, customers and partners around the world in an immersive and realistic environment.
• The launch of real-time chroma key and marker tracking functionality so XR-1 Developer Edition users can seamlessly blend real and virtual content.

About Varjo
Varjo (pronounced var-yo) is based in Helsinki and is creating the world’s most advanced VR/XR hardware and software for industrial use, merging the real and virtual worlds seamlessly together in human-eye resolution. www.varjo.com

About NordicNinja VC
NordicNinja VC is an official auxiliary name of JB Nordic Ventures Oy, which is a Helsinki-based joint venture by JBIC IG Partners and BaltCap. JB Nordic Ventures provides investment advisory to JB Nordic Fund I SCSp.

NordicNinja VC has made a seed investment in Ziticity, Lithuanian last-mile delivery service. The investment was made together with Superhero Capital VC (FIN), Practica Capital (LT) and Superangel VC (EE) to fund Ziticity’s expansion in Europe.

Founded in 2017, Ziticity empowers local business owners to compete with Amazon dominance by providing the platform for affordable same-day deliveries. With an on-demand solution, local e-shops and restaurants can optimize and distribute deliveries in real-time without usual distribution centers and paying high commission fees to shipping companies or food delivery platforms.

According to Ziticity’s data, 60% of last-mile deliveries are within a five-kilometer radius from pickup to the drop-off location. Short delivery distances widen the possibility for couriers to use any means of transportation including cars, bicycles, e-scooters, etc.

Since its launch, Ziticity has been a success in France and the Baltics, used by over 220 companies like Telia, Tele2, Pizza Hut, and Euroapotheca pharmacies’ network. Thanks to urban batching logic, the reached average delivery time is 42 minutes and couriers are able to complete 4-6 deliveries per hour. This keeps prices affordable to the shopper, while couriers are able to earn +15% more per hour than in competing platforms.

The company has been steadily growing 22% month over month ever since the launch with a sharp 44% revenue increase during COVID-19.

“Local e-commerce cannot compete on product price with Amazon and Alibaba. To have a fighting chance with global tech giants that are building monopolies in e-commerce and restaurant delivery space, we have been able to build a direct service for local merchants to compete locally,” says Laimonas Noreika, the founder and CEO of ZITICITY who built the company out of personal frustration.

“The delivery industry is expected to increase dramatically and 2.1 billion people are expected to buy goods online by 2021. On top of that, current global pandemic changes people’s behavior and habits – how they buy, sell and eat – at an unprecedented rate of change. We believe that Zitycity’s solution is a kind of silver lining approach for the industry and end-users which need to adjust for new normal,” added Tomosaku Sohara, Managing Partner at NordicNinja VC.

After successful piloting, Ziticity is preparing for entering several countries in Europe.

About Ziticity
Ziticity helps local merchants to compete with Amazon and Alibaba dominance by providing affordable same-day deliveries. Zitycity connects their e-commerce stores with urban hubs, optimizes routes and distributes heavy-batched deliveries to on-demand couriers for maximum efficiency. www.ziticity.com

About NordicNinja VC
NordicNinja VC is an official auxiliary name of JB Nordic Ventures Oy, which is a Helsinki-based joint venture by JBIC IG Partners and BaltCap. JB Nordic Ventures provides investment advisory to JB Nordic Fund I SCSp.

NordicNinja VC together with ITOCHU, one of the largest Japanese trading companies, has made a series A investment in Sensible 4, a Finnish autonomous driving technology pioneer.

The Finnish technology startup specializes in autonomous driving software for demanding and harsh weather conditions. Challenging weather and limited sensor visibility have long been a problem for driverless vehicles. The company’s solution — which is first in allowing for self-driving in snow, fog and heavy rain — has attracted growing attention from major automotive players since the startups’ inception in 2017.

“We are very proud to have such strong investors joining Sensible 4 as shareholders. We are still one of the few companies in this field that can drive autonomously in all weather conditions. With the investment we will be able to develop the technology to a level that allows us to integrate this to commercial use,” says Harri Santamala, co-founder and CEO of Sensible 4.

In 2019 Sensible 4 released the autonomous shuttle bus GACHA in cooperation with Japanese retail company MUJI, which has sparked significant interest in Japan. The company is already one of the most well-known Nordic startups in the country. GACHA has won the “GOOD DESIGN GOLD AWARD” – the number one recognition for design in Japan as well as the prestigious Beazley Designs of the year award in the Transport category at the Design Museum in London.

The first phase of the investment round before commercial production is now completed. The total round is expected to double and to be completed by the summer. The funding will be used to further develop the software and part will be used to build more GACHA busses, which aims to enter the Japanese and Chinese market at the end of the year.

“The global autonomous driving solutions still struggle to work in particular conditions like heavy snow, fog or typhoons. Sensible 4’s approach based on their long-term research for autonomous driving is totally different from other existing approaches. Their unique technology enables any kind of autonomous vehicle to drive anywhere and anytime. We are so excited to make this dream reality together with the “dream team” of autonomous driving vehicles,” says Tomosaku Sohara, Managing Partner at NordicNinja VC.

“We are very pleased to partner with Sensible 4 which provides with a unique LiDAR-based software built with state-of-the-art sensor fusion technology that makes self-driving cars operate safely in all weather conditions. Amidst the rapid advance of the progress and spread of 5G network worldwide, we believe Sensible 4’s self-driving technology will for sure contribute to developing mobility of the future with global auto manufacturers. In addition, we are very happy with the alliance with Sensible 4 and NordicNinja VC since it will also strengthen the close relationship between Itochu and Finland,” said Shunsuke Noda, Chief Digital & Information Officer at Itochu.

Sensible 4’s growth is a result of industry collaboration with top automotive companies as well as funding from European and Finnish governmental grants and loans. “Our Finnish engineering hearts are overwhelmed with the positive feedback we’ve received for our technology from Asia, especially after our cooperation announcements with MUJI and Softbank’s SB Drive. With the investment we will be able to react and build on this interest with a much faster pace,” says Santamala.

ABOUT SENSIBLE4
Sensible 4 is a Finnish technology startup developing software for autonomous vehicles. Their entirely in-house developed software allows for complete automation of vehicles. Sensible 4’s unique combination of LiDAR-based software and sensor fusion makes self-driving cars able to operate in even the most challenging weather conditions. The company is a spin-off from one of the first mobile robotics research groups in the world and is backed up by more than 30 years of experience in the field.

ABOUT NORDICNINJA VC
NordicNinja VC is an official auxiliary name of JB Nordic Ventures Oy, which is a Helsinki-based joint venture by JBIC IG Partners and BaltCap. JB Nordic Ventures provides investment advisory to JB Nordic Fund I SCSp.

Leading Estonian entrepreneur and technology executive returns from Silicon Valley to help build a bridge between Japan and the Nordic-Baltic region, by investing in mission-driven companies with cutting edge technology in mobility, healthcare, energy, insurance, robotics, AI, geospatial, and climate risk. Prior experience as General Manager of Trusted Data Platforms at Intertrust Technologies and founder of Planet OS, and experience in international organizations a key asset.

Rainer Sternfeld, an Estonian entrepreneur and technology executive, is joining NordicNinja VC’s partnership. Rainer has extensive experience in building data-driven technology businesses, and working with diverse cultures between Silicon Valley, Europe, and Japan. Before joining NordicNinja, Rainer served as General Manager and Vice President of Trusted Data Platforms at Intertrust Technologies, where he helped to launch the Intertrust Modulus Trusted Data Rights Management Platform, and focused on ecosystems in renewable energy, parametric insurance, and climate risk. In 2012, Rainer founded and led Planet OS, a leading geospatial big data company focused on interoperability, virtualization, and analytics of distributed data sets until its acquisition by Intertrust in 2017. Prior to founding Planet OS, Mr. Sternfeld led new business initiatives and operations of ABB Baltic States, including designing the world’s first nationwide fast-charging infrastructure for electric cars, deployed in Estonia.

“We are pleased to welcome Rainer as a Managing Partner at NordicNinja, where he will focus on building heart-to-heart relationships between Japan and the Nordic-Baltic region,” said Tomosaku Sohara, NordicNinja’s Managing Partner, adding: “His expertise in building data-driven businesses and his Silicon Valley experience is extremely valuable, and has a wide network around the world to help our portfolio companies take their businesses to a global market.”

Rainer has extensive experience in international organizations, serving on the Board of Directors of the World Ocean Council, as a contributor at the White House Open Data Roundtable. Mr. Sternfeld is a 2017 Millennium Fellow at the Atlantic Council, an advisor to the early angel fund Superangel, hosts a regular podcast “Global Estonians”, and is a Board Director at Eesti 2.0, a nonprofit dedicated to inspire and teach Estonian students to build companies and learn to program. He has co-designed the Statue of Liberty of Estonia, and holds a MS in Mechatronics from Tallinn University of Technology.

“NordicNinja represents the special relationship and mutual understanding between Japan and the Nordic-Baltic region, which has the drive, outstanding talent, and sense of purpose that can produce meaningful companies that benefit society,” Rainer said, adding: “While I will miss my Intertrust family, I am excited to be working with the newly-formed NordicNinja team on this mission.”

Rainer will split his time between NordicNinja’s hubs in Tallinn, Stockholm, and Helsinki, and will travel frequently in the Nordics and the Baltics, to meet and work with entrepreneurs in this vibrant and innovative region.

About NordicNinja VC

NordicNinja VC started with over 100 million euros in January 2019 and is backed by Japanese blue-chip companies, Honda, Omron, and Panasonic, as well as the Japan Bank for International Cooperation. It aims to support scale-up goals in the Nordic and Baltic region through supporting the region’s startups expand into and develop business opportunities in Japan. NordicNinja VC is an official auxiliary name of JB Nordic Ventures Oy, which is a Helsinki-based joint venture by JBIC IG Partners and BaltCap. JB Nordic Ventures provides investment advisory to JB Nordic Fund I SCSp.

For more information:

Claes Mikko Nilsen
Investment Director
Nordic Ninja VC
+358 5049 13001
claes.mikko@nordicninja.vc

Venture capital firm NordicNinja VC has invested into Estonian company Bolt, formerly Taxify.

Bolt is the leading European transportation platform that focuses on making urban travel easier, quicker and more reliable. Bolt launched in 2013 and is currently one of the fastest-growing transportation platforms in Europe and Africa with investors including Daimler, Didi Chuxing, Korelya Capital and TransferWise co-founder Taavet Hinrikus. The company has more than 25 million users in over 30 countries globally.

“We are extremely impressed by Bolt’s achievement in positioning the company as a leading ride-hailing platform and we will support the company to build the future of transportation in the world,” says Tomosaku Sohara, the Managing Partner of NordicNinja VC.

The €100 million NordicNinja VC started operating in January 2019 and is backed by Japanese blue-chip companies Honda, Omron, and Panasonic, as well as the Japan Bank for International Cooperation. It aims to support scale-up goals in the New Nordics (Nordic and Baltic region) through supporting startups expand into and develop business opportunities in Japan.

About NordicNinja VC

The official name of NordicNinja VC is JB Nordic Ventures Oy which is a Helsinki-based joint venture by JBIC IG Partners and BaltCap. JB Nordic Ventures provides investment advisory to JB Nordic Fund I SCSp.

For more information, please contact:

Tomosaku Sohara
Managing Partner
E-mail: tomosaku@nordicninja.vc
Website: https://nordicninja.vc

Claes Mikko Nilsen
Investment Director
E-mail: claes.mikko@nordicninja.vc
Phone: +358504913001
Website: https://nordicninja.vc

Today it was announced that the newly established venture capital firm NordicNinja VC has made its first startup investment into the Finnish all-in-one mobility service provider MaaS Global.

MaaS Global is behind the first all-inclusive MaaS solution commercially available on the market, mobility service application called Whim. Whim was launched in Helsinki in 2017 and has since then expanded into two other cities in Europe: Birmingham (UK) and Antwerp (BE). “People’s interest has surpassed our expectations and we have been able to prove the functioning of the service. We are now ready for global expansion,” says Sampo Hietanen, the CEO and Founder of MaaS Global.

MaaS Global has also been successful in gaining wide interest globally, including Japan where Whim is one of the best-known Finnish startup brands today. Thus, the investors include several Japanese ones as well. The company was the first one using the term Mobility-as-a-Service (MaaS) and offering an all-inclusive service of variety of transportation alternatives within one app including taxis, public transport, rental cars and bicycles.

“We are extremely excited to be part of the MaaS Global’s growth goals, as there was already a great amount of international interest towards the investment round,” says Tomosaku Sohara, the Managing Partner of NordicNinja VC.

The €100 million NordicNinja VC started operating in January 2019 and is backed by Japanese blue-chip companies Honda, Omron, and Panasonic, as well as the Japan Bank for International Cooperation. It aims to support scale-up goals in the New Nordics (Nordic and Baltic region) through supporting startups to expand into and develop business opportunities in Japan.

About NordicNinja VC

The official name of NordicNinja VC is JB Nordic Ventures Oy which is a Helsinki-based joint venture by JBIC IG Partners and BaltCap. JB Nordic Ventures provides investment advisory to JB Nordic Fund I SCSp.

About MaaS Global & Whim

MaaS Global is the world leader in the field of Mobility-as-a-Service (MaaS) with its award-winning Whim app which provides users all city transport services in one step. With over four million trips made since its launch in November 2017, Whim is the first all-inclusive MaaS solution commercially available on the market. Whim allows users to journey where and when they want with public transport, taxis, cars, and many other options, all under a single monthly subscription. Whim has revolutionized users’ travel habits, in favor of sustainable modes. MaaS Global was founded in 2015 and is headquartered in Helsinki, Finland. The company is funded by Toyota Financial Services, Karsan Otomotiv, Transdev, Aioi Nissay Dowa, Denso and Veho, and the total amount of investments from previous rounds is €24.2 million.

https://whimapp.com/about-us/

For more information, please contact:

Claes Mikko Nilsen
Investment Director
E-mail: claes.mikko@nordicninja.vc
Phone: +358504913001
Website: https://nordicninja.vc