Bardo
Stockholm, SE · Founded 2024 · 24 employees on LinkedIn · 1 known investors
Bardo provides product-level carbon accounting that calculates emissions from the actual products a company purchased, tracing each figure back to source documents such as invoices and verified supplier LCAs. It serves corporate sustainability and finance teams needing auditable Scope 1, 2, and 3 emissions data.
Also known as Bardo
Investors · 1
Company profile
researched Aug 2026Bardo is a Stockholm-based carbon accounting and carbon intelligence platform. Its software ingests a company's existing financial data — PDFs, ERP exports and invoices — identifies the specific products and suppliers behind each transaction, and maps those purchases to verified supplier life-cycle assessments (LCAs) in order to calculate emissions from what was actually bought rather than from spend multiplied by category averages. Outputs cover Scope 1, 2 and 3 emissions across entities, with each figure traceable back to its source document so that an auditor can sample activities and statistically verify the wider dataset.
The platform positions itself around auditability and analysis rather than estimation: it is presented as GHG Protocol aligned, SOC 2 Type II, EU-hosted, end-to-end encrypted and geared to CSRD reporting. Alongside inventory reporting, the product surfaces drill-down explanations of period-over-period changes (for example attributing a Scope 3 increase to a specific office's travel expenses) and identifies categories where switching products or suppliers can reduce both emissions and cost. Because calculations are product-level, the company states that supplier changes such as shifts in fuel mix or electricity contracts become visible where spend-based methods would miss them.
Bardo was conceptually developed inside Stegra (formerly H2 Green Steel), the developer of a fossil-free steel plant in northern Sweden, before being incorporated as a separate company by Carl-Johan Westring, Oskar Klingberg, Ingemar Rask and Erik Sandström.
Founding story
Bardo was conceived within Stegra, formerly named H2 Green Steel, which is building a fossil-free steel plant in northern Sweden, and was then established as a standalone company by Carl-Johan Westring, Oskar Klingberg, Ingemar Rask and Erik Sandström. It was founded in 2024 and emerged from stealth mode in November 2024. The company describes itself as having been created in Stockholm to address a problem it says existing tools on the market could not solve.
Business model
Bardo sells a software platform to companies that need to measure and report greenhouse gas emissions, converting their financial transactions into carbon activity data. Prospects are offered an analysis of a sample of their invoices as an entry point.
The company markets a B2B software platform to corporate customers; specific pricing terms are not disclosed publicly.
Traction
Bardo reports over 100 companies using its carbon data and that 100% of clients continue after seeing their results. Customer references are drawn from Swedish groups including Aura Group, Bjäre Kraft, First Camp, Ernströmgruppen and KEYTO Group.
Latest developments
Bardo emerged from stealth mode on 29 November 2024, announcing a €3 million investment from Cherry Ventures on top of approximately €1.7 million previously raised from Stegra and angel investors.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
The company describes itself as the default provider for product-level carbon accounting and states that more than 100 companies rely on its carbon data.
Bardo contrasts its product-level, invoice-traceable calculation approach with spend-based estimation, arguing that spend-times-average methods conflate cost inflation with emissions changes, obscure supplier-level shifts and are difficult to defend in audit. Its claimed advantages are audit-defensible traceability to source documents, genuine year-over-year comparability, and visibility of emissions hotspots hidden inside category averages.
Technology
The platform reads financial documents in varied formats, resolves line items to specific products and suppliers rather than broad categories, and links each product to verified supplier LCA data that is quality graded. Calculations are automated from existing financial data and every number retains a trace to its source document. Stated controls and standards include GHG Protocol alignment, SOC 2 Type II, EU hosting, end-to-end encryption and CSRD-ready reporting.
Go-to-market
Direct enterprise sales supported by customer case studies and testimonials, with a free sample analysis of a prospect's invoices used to demonstrate results.
Corporate sustainability, procurement and finance functions — including sustainability managers, ESG managers, group sustainability controllers and CFOs — particularly at organisations with CSRD reporting obligations. Named reference customers include Aura Group, Bjäre Kraft, First Camp, Ernströmgruppen and KEYTO Group.
Geography
Headquartered in Stockholm, Sweden, with data hosted in the EU; disclosed customer references are Swedish organisations.
History
The company was founded in 2024 after being incubated conceptually inside Stegra. It raised SEK 20 million (approximately €1.7 million) in equity from Stegra and angel investors before publicly launching, and announced a €3 million investment from Cherry Ventures on 29 November 2024 when it came out of stealth.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 2
launches, deals, and filingsBardo emerged from stealth mode and announced a €3 million investment from Cherry Ventures, bringing total equity raised to close to €4.7 million.
Prior to exiting stealth, Bardo had raised SEK 20 million (around €1.7 million) in equity funding from Stegra and angel investors, according to filings with the Swedish Companies Registration Office.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- Bardobardo.se · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Bardo do?
- Stockholm-based carbon intelligence platform that calculates product-level emissions from a company's financial transactions.
- Who are Bardo's investors?
- Bardo's investors include Cherry Ventures.
- Where is Bardo headquartered?
- Bardo is headquartered in Stockholm, SE.