Kvist, a Norwegian tech company helping the construction and real estate sectors plan, improve, and report on sustainability performance, has raised €1.3M to strengthen its market position and accelerate growth.
The funding round attracted both existing and new investors. Among the new investors is Kiilto Ventures, part of the Kiilto Family Group, a leading supplier of materials for the construction sector in the Nordics, Poland, and the Baltics. Kvist also secured continued backing from current investors such as DNB Ventures, Alliance Venture, Ferd, Arkwright X, and Squid.
"We see a clear market demand for solutions that simplify compliance with increasingly stringent regulations. Kvist has developed a unique tool that addresses this need, and we look forward to supporting their continued growth" says Matti Rönkkö, Managing Director at Kiilto Ventures.
A sector in desperate need of a green shift
The built environment includes the spaces where we live, work, and play. Globally, this sector is responsible for 37 % of greenhouse gas (GHG) emissions, 33% of final energy use, and generates one third of the worlds waste.
To meet these goals, the EU has implemented stringent regulations, including CSRD, SFDR, and the EU taxonomy. These frameworks require large companies and financial institutions to measure and report their sustainability performance, impacting the entire value chain. While these measures are crucial for directing capital toward green initiatives, compliance can be complex and costly. The EU estimates CSRD compliance alone could cost companies around €320,000 annually, with collective audit costs reaching €1.4 billion per year.
In the construction and real estate sectors, compliance is especially complex. It demands detailed, project-specific documentation and performance improvements for each building or construction project. These individual requirements must then be consolidated to provide comprehensive insights at the portfolio level.
Kvist’s platform enables companies in the construction and real estate sectors to plan, improve, and report sustainability performance in alignment with regulations like the EU taxonomy and green building certifications.
"Our technology enables sustainability leaders and specialists to focus more on environmental initiatives since time spent on reporting is cut down with Kvist. Knowing our platform makes a tangible difference is incredibly motivating" says Fabian Utigard, CEO of Kvist.
Developed in close collaboration with industry leaders, Kvist’s technology helps clients save hundreds of hours per project while improving environmental outcomes and data quality in their portfolios. Kiilto sees this is crucial for a green shift.
“We see that existing and upcoming regulation in the built world is key for making it more sustainable. At the same time, we see the massive workload and the pain of collecting the required data and metrics. We think that solutions like Kvist not only help with the workload of new reporting standards but above all create trust in the thrive towards sustainability, by making sure the data is correct increasing the value of reporting and certificates" says Matti Rönkkö, Managing Director at Kiilto Ventures.
Media contact:
Sonja Ulma
Communications Manager, Kiilto
sonja.ulma@kiilto.com
+358 44 3407 020
Image bank can be found here.
About Kvist
Founded to simplify sustainability compliance in the built environment, Kvist offers a technology platform that helps construction and real estate companies navigate complex environmental regulations, plan their path to compliance, and ensure that the right measures are implemented for each building or project. By reducing administrative costs and providing data-driven insights into sustainability performance, Kvist enables the sector to focus more on environmental improvements and less on documentation and admin. www.kvistsolutions.com
About Kiilto
Kiilto is a family-owned company based in Finland with over a hundred-year history. Kiilto develops, produces, and markets chemical industry solutions in the fields of construction, industrial adhesives and fireproofing, professional hygiene, and consumer goods. Kiilto’s operations span 9 countries. In 2023, the group's net sales amounted to 227 M€. Kiilto Ventures is the corporate VC of Kiilto. It invests in and builds early-stage startups. www.kiilto.com