CVX Ventures is investing in the Swedish B2B SaaS platform Deedster, specializing in the quantification and reduction of CO2 emissions. Deedster is on track to achieve a revenue of approximately 8.5 million Danish Krone in 2023.
CVX Ventures is leading a new investment round in the Swedish company Deedster. The solution has already been used by 80+ large corporates, banks and financial institutions worldwide. Deedster operates in the carbon accounting market, sized of approximately 35 billion US dollars by 2030.
Deedster is a B2B platform specializing in emissions quantification and engagement. Deedster’s mission is to assist companies and users in accurately measuring, reporting and reducing their CO2 emissions while promoting sustainable choices.
CVX partners are investing up to approximately 21 million Danish Krone at a ‘pre-money’ valuation of around 76 million Danish Krone. With the investment, Deedster will expand its commercial team, enhance customer success and delivery, and further invest in product development.
“As the world becomes more environmentally conscious about climate change, there is increasing emphasis on reducing carbon emissions and adopting sustainable practices. Deedster’s focus on carbon emissions quantification and engagement aligns with this trend, positioning us well to serve large banks and companies looking to reduce their CO2 footprint,” says Niclas Persson, CEO and co-founder of Deedster.
Deedster has been selected and diligenced by the investment committee at CVX Ventures, which sees significant potential in Deedster for several reasons.
“Many regions and industries are implementing stricter rules regarding CO2 emissions reporting and reduction goals. Deedster’s services help companies meet these requirements efficiently. Furthermore, companies are increasingly recognizing the importance of corporate social responsibility and sustainability in their operations. Deedster’s platform helps companies demonstrate their commitment to sustainability to customers, investors, and other stakeholders,” says Sara Nahon, Investment Manager at CVX Ventures.
Deedster’s digital solutions optimize the emissions quantification process, making the platform more efficient and accurate compared to manual methods. This saves organizations significant amounts of time and resources. Additionally, Deedster utilizes gamification to engage users in sustainability efforts, which can be a powerful motivator. As the demand for sustainability-related solutions continues to grow, Deedster is in a strong position to expand its client base and increase its market share.