Nordic & Dutch startup eyes European expansion after raising €25M for carbon-negative construction tech

Paebbl has closed $25 million in a Series A round led by Capnamic with participation from Amazon‘s Climate Pledge Fund, Holcim MAQER Ventures, GOLDBECK‘s family office Aurum Impact, and several European industrial family offices, including the Family office of Antti Herlin. Existing investors, including 2050, Pale Blue Dot, and the Grantham Foundation, also increased their stakes. Paebbl specializes in decarbonization technology that transforms captured CO2 into carbon-storing construction materials, providing a sustainable alternative to conventional cement. The new funding will accelerate Paebbl’s scale-up efforts, including the completion of a demonstration plant in Rotterdam, expansion into new hubs across Europe, and solidifying partnerships to bring their carbon-negative materials to market.

Founded in 2021 by serial founders Andreas Saari and Jane Walerud, applied researcher and mineralization veteran Pol Knops, and former venture capitalist Marta Sjögren, focuses on addressing carbon emissions within the construction sector. By converting captured CO2 into durable building materials, the company provides a carbon-negative alternative to traditional cement, which is known for its high emissions. Founded in 2021, Paebbl uses a mineralization process to store CO2 permanently, integrating it into construction products to help reduce the overall carbon footprint of the built environment. The company has facilities in several European locations, including Rotterdam and Helsinki, and plans to expand further to support wider adoption.

Capnamic Partner Christian Knott who led the investment commented: “I have been following the decarbonisation efforts of this industry for a while now and am very impressed by the speed that the team at Paebbl displays in getting to first commercial traction. The combination of diligent engineering and best practices from the software industry, like rapid prototyping, can pave the way for unprecedented speed in this industry.”

“We’re incredibly proud of the progress our team has made in such a short time, but for us this still feels like day zero. This funding enables us to execute even faster with our customers and leap ahead towards our objective to make the built environment a cornerstone of the decarbonized economy,” said Andreas Saari, Co-CEO and Co-Founder of Paebbl.

Looking forward, Paebbl is expanding its presence across Europe, with new hubs planned for the UK, alongside existing locations in Helsinki, Rotterdam, and Stockholm. Collaborating with major players like Amazon and Holcim, Paebbl aims to lead the charge in creating carbon-storing buildings, bringing their vision of a decarbonized economy closer to reality. The company’s unique, nature-inspired technology positions it at the forefront of sustainable industrial innovation, with ambitions to make a global impact in the coming decade.

“We are thrilled to welcome early mover leaders in their respective fields, Amazon and Holcim, as first commercial partners that will help bring our vision to the market rapidly. Aligning interests is at the core of our commercial ethos,” added Marta Sjögren, Co-CEO and Co-Founder of Paebbl.

Amazon’s Climate Pledge Fund expressed excitement about partnering with us: “We are excited to partner with Paebbl to advance our Climate Pledge and help decarbonize our own value chain. Paebbl’s innovative approach to CO2 sequestration in the built environment aligns perfectly with our commitment to sustainability, and we believe this partnership will be instrumental in driving forward our goals,” said Phoebe Wang, Partner at the Amazon Climate Pledge Fund.

Holcim, the global leader in building materials, also shared their enthusiasm: “Paebbl’s pioneering technology offers a game-changing pathway to creating truly climate-aligned building materials, and together, we aim to bring these innovative solutions to market, setting new standards for sustainable construction,” said Nollaig Forrest,, Chief Sustainability Officer at Holcim.

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