Helsinki-based startup Sustashift has secured an investment round led by Greencode Ventures, with participation from Wave Ventures. The investor shared the announcement in its Linkedin page.
About Sustashift
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Sustashift, founded in 2023 and based in Helsinki, provides companies with ready-made templates and automated digital mark-up for sustainability reports.
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The company has experienced exceptional growth in 2024, scaling up rapidly to meet the growing demand for automated and regulatory-compliant sustainability reporting, particularly in light of the upcoming Corporate Sustainability Reporting Directive (CSRD) in the European Union.
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In May 2024, Sustashift also received a €50,000 investment from The University of Helsinki Funds through the HELSEED student entrepreneurship program.
“CSRD reporting is a big and rapidly growing market with strong tailwinds. Sustashift has been able to capitalize exceptionally strong traction in the market, closing to a million in revenue in 2024. As company foundations are built by lawyers, customers can rely on the CRSD solution to truly meet the complex regulatory requirements. These are the reasons why we believe Sustashift has a unique position in the market,” comments Terhi Vapola, Founder & Managing Partner at Greencode Ventures.
Investment details
Greencode Ventures led the round, with Wave Ventures also contributing to it. Although the investment amount was not disclosed, it will help Sustashift in its mission to provide the best software solution for CSRD reporting across Europe.
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GreenCode Ventures, a Helsinki, Finland-based venture capital firm founded in 2022, focuses its investments on European companies in the clean energy, information technology, clean technology, climate technology, infrastructure, and micro-mobility & mobility technology sectors.
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Wave Ventures is an impact investor focused on early-stage companies. Their mission is to back exceptional founders who are building market-leading companies that address critical social and environmental issues.
Sustashift will use the new funding to accelerate its growth and meet the increasing demand for automated, regulatory-compliant sustainability reporting.
