Ingka Investments makes minority Investment in Doconomy
Ikea’s holding company Ingka Group, through its Ingka Investments arm, has made a minority Investment in Swedish firm Doconomy, whose technology helps banks, brands and consumers to measure, understand and reduce their environmental impact.
This is part of Doconomy’s latest funding round with investors, also including Citi, contributing to a total of $19 million of equity capital.
“Both Ingka and Doconomy have great ambitions in shaping tomorrow’s sustainable homes through new products and services,” says 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.”
The funding will support in accelerating Doconomy’s expansion plans, recruiting new talent to join its rapidly team and supporting the development of its Impact Applied portfolio; enabling environmental impact calculations on products, financial transactions, lifestyle and corporations.
“With Doconomy the power of the conscious consumer is unleashed. Corporates are increasingly acting on the much needed shift to greater transparency and we facilitate this at the corporate and product level to empower behaviour change,” says Mathias Wikström, Co-founder and CEO, Doconomy.
“In addition to the coalition of corporate climate champions that already work with us, we are thrilled to have the support of corporate venture teams at Ingka Group and Citi who recognise the potential and urgency of our mission.”
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