Klimate.co secures €3.5M in seed round to advance carbon removal technologies and ensure transparency
Amsterdam, Netherlands, October 17, 2023: Rockstart, global early stage VC and accelerator, announces its co-investment in Klimate.co, a Rockstart Energy portfolio company. 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.
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 capacityKatja Grothe-Eberhardt, Founder and CEO, Klimate.co
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.Robert Blom, Investment Director, Eneco Ventures
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.Mikael Myllymäki, Vice President and Head of Helen Ventures
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, says Johan Bitsch Nielsen, Investment Manager at Export and Investment Fund of Denmark, EIFO.Johan Bitsch Nielsen, Investment Manager at Export and Investment Fund of Denmark, EIFO.
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.Max ter Horst, Managing Partner, Rockstar Energy
Since 2014, Rockstart has been accelerating and investing in energy startups, which makes Rockstart a forerunner in the energy domain with 75 early-stage startup investments. Collectively, these portfolio companies have raised over €150 million to date. Rockstart Energy invests in and accelerates startups at the pre-seed stage and continues to support them alongside other investors until series B. On average, Rockstart invests in approximately 12 energy startups per year.
Klimate.co is a pioneering company founded in 2020, specializing in carbon asset management. Its platform enables businesses to proactively secure high-quality carbon removal solutions, transforming carbon liabilities into valuable future assets. By strategically financing carbon removal projects, Klimate.co is dedicated to scaling and accelerating the development of carbon removal methods and technologies essential to combating climate change. Klimate is based in the heart of Copenhagen, Denmark, and currently has 11 employees. Klimate has clients across northern Europe and The US. Klimate is among the world's largest resellers of permanent carbon removal according to CDR.fyi.