Klimate.co, a startup that helps companies achieve Net Zero by combining the world’s best carbon removal methods into portfolios that match their clients’ budgets and ambitions, secured €3.5 million in seed.
The round was led by Eneco Ventures alongside Helen Ventures and was joined by existing investors Rockstart and the Export and Investment Fund of Denmark (EIFO). The startup plans to use the funding to grow its team, scale internationally, and further develop Klimate.co’s software platform.
The Copenhagen-based startup was founded in 2020 and has quickly established itself as a forward-thinking company dedicated to addressing climate change through innovative carbon management solutions. The company’s CO₂ asset management platform empowers businesses to actively secure high-quality carbon removal solutions, effectively turning carbon liabilities into valuable future assets. Klimate.co strategically allocates funding to carbon removal projects, emphasizing environmental responsibility and promoting social and economic development.
Katja Grothe-Eberhardt, Founder and CEO of Klimate.co, said: “This investment is a testament to our commitment to combating climate change and advancing carbon removal technologies. We are grateful for the support of our investors, and this funding will be instrumental in further accelerating our commercial efforts, enhancing our platform’s capabilities and ultimately drive our mission to scale up carbon removal capacity”
Klimate currently has 11 employees and has clients across northern Europe and The US. As of today, Klimate is among the world’s largest resellers of permanent carbon removal according to CDR.fyi.
Robert Blom, Investment Director, Eneco Ventures, commented: “We are excited to partner with Klimate.co in their quest to make a meaningful impact in the fight against climate change. We believe their CO₂ asset management platform is a game-changer in how businesses manage their carbon removal, particularly for future removals.”
Mikael Myllymäki, Vice President and Head of Helen Ventures, added: “We are excited to join Klimate.co in their mission to advance carbon removal solutions. Carbon neutrality is a huge imperative across sectors. We are highly impressed by both the technical competencies and achieved commercial proof points of the Klimate team as they tackle this significant challenge together with their customers.”
Launched in 2020, the Rockstart Energy fund is Rockstart’s second fund from which it has invested in more than 35 startups to date. The Rockstart Energy portfolio companies have collectively raised more than €75 million in total thus far.
Max ter Horst, Managing Partner of Rockstar Energy, commented: “Klimate operates within the rapidly expanding sector of carbon removal initiatives, a critical component in achieving climate objectives aimed at limiting global temperature increases to less than 2℃.. The startup offers a unique proposition to make such projects bankable and therefore scalable, while supporting offtakers in optimizing their carbon removal portfolios. We are excited to join forces with prominent investors like Eneco Ventures and Helen Ventures in this funding round, who bring in the market knowledge necessary to make Klimate a success.”
Read the orginal article: https://www.eu-startups.com/2023/10/copenhagen-based-klimate-co-secures-e3-5-million-to-address-climate-change-through-carbon-management-solutions/
