Copenhagen-based Klimate.co, a company focused on addressing climate change through carbon management solutions, announced that it has secured €3.5M in a Seed round of funding.
The investment was co-led by Rockstart, a global early stage VC and accelerator, Eneco Ventures and Helen Ventures, with participation from existing investor the Export and Investment Fund of Denmark (EIFO).
Johan Bitsch Nielsen, Investment Manager at Export EIFO says, “EIFO is dedicated to achieving the net zero-goals. If we are to fulfill the ambitions of the Paris Agreement, we need to establish real and large-scale carbon removal. But the market is still immature. Supply is limited, and it is challenging to decide which technologies and projects are greenwashing or delivers on their promise.”
“We see Klimate.co playing a part in solving these two issues. With their innovative Carbon Purchase Agreement-concept they have the potential to increase the number of projects being financed and as one of the most knowledgeable carbon removal teams out there, they are on a mission to ensure transparency around the quality of the projects,” adds Nielsen.
Brief about Klimate.co
Klimate.co, founded in 2020, focuses on carbon management solutions. Its CO2 asset management platform helps businesses secure high-quality carbon removal solutions, transforming carbon liabilities into valuable assets.
The company claims to strategically distribute funding to carbon removal projects, emphasising environmental responsibility and supporting social and economic development.
Currently, Klimate.co has 11 employees and has clients across northern Europe and the US.
Capital utilisation
Klimate.co will use the funding to expand the team, scale internationally, and further develop it’s software platform, advancing its mission to combat climate change and promote environmental responsibility and social and economic development.
Katja Grothe-Eberhardt, Founder and CEO of Klimate.co says, “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.”
Brief about Rockstart Energy
Rockstart, since 2014, has been a pioneering force in the energy domain, investing in 75 early-stage startups and contributing to a total funding of over €150M.
Rockstart Energy supports startups from pre-seed to series B stage, averaging around 12 investments per year, showcasing their significant impact on the energy sector’s growth and innovation.
Klimate.co is a Rockstart Energy portfolio company.
Max ter Horst, Managing Partner of Rockstar Energy says, “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 optimising 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.”