The construction and property sector accounts for just over a fifth of Sweden’s climate impact, according to Boverket. For the past year, developers have been legally required to submit climate declarations for new buildings.

Plant has created a service that calculates the climate impact of construction. Using a project’s 3D models allows large parts of the calculation to be automated.

“The construction industry is undergoing an enormous transition. More and more organisations are fully committing to circular, sustainable materials. Even so, much of today’s climate calculation work takes place in Excel spreadsheets without system support,” says Pelle Tunell, CEO of Plant.

The company is now on track for revenue of SEK 16 million, has been breaking even since November and has just closed a SEK 6 million funding round, with AGV Invest joining as a new investor.

“AGV is like Norrsken House for PropTech. It is where everything is happening right now. The primary purpose of this share issue is to bring their unique industry expertise closer to us,” says Pelle Tunell.

AGV is backed by organisations including Jernhusen, Akademiska Hus, Hemsö and Fabege. Its advisory board includes prominent figures such as Maria Rankka, Peter Wågström, Peter Ingman and Charlotte Hybinette. Felix Sandquist is responsible for its investment activities.

“Plant is a tenant at AGV, and we were impressed by its capable team very early on. They have found the best people in both software development and sustainable construction. I also frequently hear property companies praise Plant as the very best in climate calculations. Demand for climate calculations is undoubtedly growing, and Plant is at the forefront. We look forward to supporting the company on its journey,” says Felix Sandquist, CEO of AGV Invest.

During the year, Plant will raise further capital, expand into the Nordic market and appoint a new professional board.

Published: 16 February 2023