Cham-based startup ARTEM has raised €1.5 million in seed funding to develop its comprehensive software and hardware platform to help EU companies and non-EU producers ensure CBAM compliance and enable the transition to net-zero manufacturing.
The funding round was led by Vireo Ventures, a Berlin-based Article 9 SFDR venture capital firm, with a focus on driving the energy transition and decarbonisation.
Nanxi Ding, Founder & CEO of ARTEM, said, “There has been significant development and growth in national and supranational carbon compliance and pricing mechanisms such as CBAM. Currently, USD 45 billion worth of goods are impacted by CBAM, with this figure expected to rise to USD 90 billion by 2030. The challenge for companies lies in finding a compliance solution that addresses the specific needs of each industry and helps them overcome cultural, jurisdictional, and informational barriers in the process of reporting. As carbon pricing and emissions trading expand globally, authorities and markets will demand more reliable emission data.”
Founded in 2024 by Nanxi Ding, Leo Rees-Murphy, and Ofir Weinstock, ARTEM offers a combination of software and hardware tools to help EU importers and non-EU producers collect, verify, and report greenhouse gas (GHG) emissions data. Nanxi Ding was inspired to found ARTEM after navigating the complexities of CBAM while managing her family’s automotive manufacturing business.
Recognising the challenges and opportunities of compliance, she and her co-founders built ARTEM to help companies adapt to a regulatory landscape increasingly prioritising decarbonisation and transparent emissions reporting.
The company’s technology streamlines compliance for sectors like cement, steel, aluminium, fertilisers, electricity, and hydrogen, which are among those most impacted by CBAM regulations set to fully take effect in 2026.
ARTEM’s platform includes Continued Emission Measuring Systems to provide accurate real-time emissions data collection, along with software to predict the financial impact of carbon pricing on goods. The system facilitates compliance reporting for importers, improves supply chain transparency, and promotes GHG reductions at the manufacturing level.
“ARTEM assists companies collect, verify and report real emission data from suppliers worldwide using compliance software with an integrated hardware measurement device, enabling end-to-end GHG tracing across cross-border supply chains. The synergies between different national carbon markets are expected to create unprecedented and cataclysmic growth in the decarbonization market. We are privileged to have the support of Vireo Ventures, an Article 9 SFDR Fund with a wealth of industrial expertise and a strong commitment to the energy transition,” added Ding.
The EU’s CBAM, the world’s first border adjustment mechanism for carbon pricing, mandates importers of high-emission goods to track emissions and purchase CBAM certificates. ARTEM’s proposed solution addresses the complexities of compliance while reducing risks of costly penalties for non-compliance.
The platform is poised to serve a growing market, with global emissions monitoring valued at USD 16.98 billion in 2024 and projected to reach USD 61.43 billion by 2029, according to ARTEM.
“CBAM compliance is vital for achieving a climate-resilient, decarbonized future. ARTEM stands out as one of the first automated platforms focusing entirely on CBAM compliance infrastructure. The team’s progress, deep industry insights, as well as producer and freight forwarder network put them in a strong position to establish a leading market player early on,” said Matthias Engel, Managing Partner at Vireo Ventures.
Read the orginal article: https://www.eu-startups.com/2024/12/green-gets-easier-with-artem-as-it-raises-e1-5-million-for-ghg-emissions-tech/
