Oslo-based PropTech startup Telescope announced today it has successfully raised €3.7 million in Seed funding, aiming to help the European real estate industry shift sustainability risk from being merely a "compliance checkbox" to transforming it instead to become a "strategic advantage." The funding round was led by Scale Capital and Dreamcraft Ventures, with additional participation from Curiosity VC and OBOS Oppstart.
Gustav Haaland, CEO and Co-founder of Telescope, addressed the prevailing challenges facing real estate owners: "Every conversation I have, real estate owners tell me the same thing – they’re drowning in ESG reports, consultant slide decks, and EU acronyms, yet they’re still asking: ‘What does this actually mean for my buildings?’ We’re not here to add more paperwork. Unlike existing solutions, Telescope turns sustainability from an abstract compliance riskinto tangible, financially driven decisions." This commitment to practical, understandable sustainability is at the core of Telescope's vision.
Founded in 2022 by Gustav Haaland, Marit Bjerkreim, and Mathias Wahl, the Telescope team combines deep expertise across sustainability, data science, and PropTech sectors. Their primary goal is to reshape how property owners navigate and handle climate-related risks. The platform enables real estate organizations to comprehend, manage, and mitigate these risks effectively, producing actionable insights from complex climate data. This enhances asset value protection, provides access to green financing, and ensures compliance with current regulations.
With growing pressure from European regulators urging businesses to thoroughly assess and disclose climate risks, Telescope realizes the urgency surrounding these issues. Its platform adeptly translates climate risk data, translating it to actionable insights at the portfolio level. This empowers property owners to quantify and manage various climactic risks such as biodiversity loss, physical climate threats, and regulatory transition risks.
Haaland likens Telescope's mission to helping customers learn: "One way I like to look at this isthat we’re taking our customers from trying to learn a language by reading a dictionary to using Duolingo instead.” This framing emphasizes the ease and efficiency of utilizing Telescope's platform as compared to traditional methods.
Since its inception, Telescope has made notable strides. By 2024, the startup signed multiple real estate firms across Norway, propelled by its dedicated team of only eight and minimal marketing spend. Now, Telescope is scaling its operations and set to launch initiatives in Denmark, Sweden, and the Netherlands, broadening its scope to serve financiers and investors within the real estate sector.
Joachim Schelde, Senior Associate at Scale Capital, remarked on Telescope’s potential impact, saying: "What caught our attention was the team’s deep understand of real estate owners’ pain points ... signals a massive opportunity to redefine how the industry approaches climate risk." His comments highlight the industry's recognition of Telescope’s innovative solutions.
Similarly, Matilde Lyet, Principal at Dreamcraft Ventures, points to Telescope's unique positioning within the crowded sustainability technology market, stating: "Telescope stands out with its laser focus on real estate. Their platform quantifies both climate risks and upsides ... enabling property owners to make financially impactful decisions, whether investing in renovations or securing green financing." This assessment reflects confidence not only from investors but also from the industry about Telescope's projected growth.
With proven success already seen within Norway and now armed with fresh capital, Telescope is strategically set to assist property owners throughout Europe. The company's ambition is clear: to convert the challenges posed by climate readiness from obligations to significant strategic strengths.