Carbonfuture raises EUR 5.5 million from existing and new investors to accelerate global growth

Carbonfuture raises EUR 5.5 million from existing and new investors to accelerate global growth

 

Carbonfuture, the digital MRV platform and  marketplace for high-quality carbon removal credits, successfully raised EUR  5.5M in a round led by its existing investors Carbon Removal Partners,  Übermorgen Ventures, and WiVenture. They were joined by tech4good venture  capital fund 4impact capital and value-add investor Sustainable Future  Ventures.

The funding will allow Carbonfuture to further grow its presence with  a focus on the US market, enabling it to meet the growing demand of high ranking customers like Microsoft, Swiss Re, Klarna, and South Pole. This will be  achieved by broadening the range of innovative carbon removal technologies  supported by its platform, as well as by the expansion of its platform services  to additional ecosystem partners. 

The demand for carbon removal credits continues to grow as companies  reduce their greenhouse gas emissions but realize that their internal efforts  alone will not allow them to reach their climate commitments. The market for  carbon credits is growing rapidly and is expected to reach a worth of $50 billion  by 2030 but that growth runs the risk of being undermined by low quality  credits that do not deliver on their claims of additionality or durability.  Carbonfuture has stepped in to provide a critical solution that enables a high quality credit market to scale rapidly, while delivering the promised  environmental benefits. Carbonfuture’s end-to-end platform integrates  carbon tracking, third-party credit standards, and financing tools across  carbon removal technologies, ensuring a new tier of credit quality for buyers  and sellers, as well as reducing friction for rapid industry growth. Customers  include some of the largest carbon removal buyers in the world, such as  Microsoft, SwissRe, Klarna and South Pole. 

Carbonfuture has established the world’s leading MRV (monitoring, reporting,  verification) system for carbon removal. A transparent and auditable system  hosts premium carbon removal credits - carbon removal you can trust – with  the built-in ability to scale across a wide range of carbon removal technologies. 

This approach ultimately de-risks the adoption and long-term commitment to  carbon removal by buyers. “Our seamless digital carbon tracking solution and  strict adherence to independent standards and audits are the main building  blocks that guarantee our carbon removal credits transparently deliver the  climate impact they claim to make. Leading buyers already identified these  trust-building elements as value drivers”, Hannes Junginger-Gestrich, CEO of  Carbonfuture.

“Carbonfuture’s MRV technology enables and vastly accelerates the adoption  of high-quality carbon removal credits. We have been impressed by the  exceptional team and look forward to working with them to create a more  transparent, homogenous, and liquid carbon removal credit market”, Ali  Najafbagy, Founding & Managing Partner of 4impact capital.  

“At Sustainable Future Ventures, we are focused on investing in startups that  can help corporations in the built environment achieve their carbon reduction  goals. While significant progress is being made in reducing emissions through  operational improvements, we know that carbon removal credits will also be a  massive part in reaching these goals. Carbonfuture’s platform plays a critical  role in ensuring that these credits are robust and accurate”, Matthew Chagan,  Partner at Sustainable Future Ventures. 

Zeus grows rapidly in Europe with leading international retailer Primark

Zeus grows rapidly in Europe with leading international retailer Primark

Boost Fund 1 invests in 50% female-founded businesses as maiden startups fund reaches halfway mark

Boost Fund 1 invests in 50% female-founded businesses as maiden startups fund reaches halfway mark