Ingka Investments makes minority investment in Doconomy

Ingka Investments has made a minority investment in Swedish based climate technology company Doconomy.

Part of IKEA owner Ingka Group, Ingka Investments said the move follows several investments it has made to strengthen the IKEA retail business by supporting the growth of innovative companies in areas such as sustainability, digitalisation and customer fulfilment.

Doconomy helps banks, brands and consumers to measure, understand and reduce their environmental impact. Inga Group’s investment is part of Doconomy latest funding round where investors contributed a total of $19 million of equity capital.

Krister Mattsson, managing director of Ingka Investments, Ingka Group, said: “We are delighted  to invest in Doconomy, which is a market leader in the applied impact field and a company that wants to create a positive impact on the environment. Both Ingka and Doconomy have great ambitions in shaping tomorrow’s sustainable homes through new products and services. 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 help Doconomy to accelerate its expansion, recruit new talent and further develop its Impact Applied portfolio that enables it to make environmental impact calculations on products, financial transactions, lifestyle and corporations.

Mathias Wikström, co-founder and chief executive of Doconomy, said: “With Doconomy the power of the conscious consumer is unleashed. Corporates are increasingly acting on the much needed shift to greater transparency and Doconomy facilitates this at the corporate and product level to empower behaviour change. In addition to the coalition of corporate climate champions that already work with Doconomy, 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.”