Ikea holding company invests in climate data platform

Ikea parent company Ingka Group has invested in Swedish climate data platform Doconomy, via its Ingka Investments arm.

Doconomy, founded in 2018, provides a platform which allows consumers and businesses to measure their C02 output.

The funding round was led by venture capital investor CommerzVentures and Citigroup’s venture capital team Citi Ventures also participated.

Existing investors Mastercard and Ålandsbanken also joined the round.

Doconomy claims its platform is used by companies such as BNP Paribas, Klarna, Nordic bank Nordea, and Standard Chartered.

Ingka Group was active in terms of making investments in 2022, it purchased a $22.5 million stake in Buy Now, Pay Later (BNPL) company Jifiti in September 2021.

In March 2021, the group invested around £12 million in London-based location technology start-up what3words.

“Both Ingka and Doconomy have great ambitions in shaping tomorrow’s sustainable homes through new products and services,” said Krister Mattsson, managing director at Ingka Investments, Ingka Group. “With Doconomy we see a big potential in developing solutions to support people and products and services suppliers to measure, understand and reduce climate impact.”

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