Today is Earth Day and many climate tech startups worldwide are contributing to climate change. At the same time, the buzzwords in the tech space right now such as blockchain, NFTs and web3 are also focusing on bringing about sustainability. As blockchain is making its way across industries and trying to be more energy-saving, the city of Paris has hosted the two-day Paris Blockchain Week Summit this week.
The event saw the participation of industry leaders and over 3,000 crypto enthusiasts. It also involved commentaries regarding topics, including crypto regulation, the SEC lawsuit and digital asset adoption in Europe. Among them, Blockchain.com’s Co-Founder, Nicolas Cary, discussed a number of topics including the vision for democratisation that blockchain instills and how blockchain will lead to a new internet that will empower people globally.
At the time of climate crisis and increased awareness to bring a climate change, several companies are eyeing to reduce their environmental impact. In the past decade, investments in the climate tech sector have drastically increased and the sector has witnessed a whopping $222 billion in 2021, claim reports.
Having said that, here are some blockchain startups from Europe that are opting for the sustainability path to leave a positive impact on the environment on account of Earth Day.
Retraced (Germany)
Founder/s: Lukas Pünder, Peter Merkert, Philipp Mayer
Founded year: 2019
Total funding: $1.1M
German startup Retraced uses blockchain technology to collect data in the value chain of fashion brands, thereby contributing to transparency in the supply chain. Companies use an innovative tool to check and optimise their supply chain, end customers can track how consumer behaviour influences the environment and the lives of those involved in a particular product.
In February 2021, Retraced raised €1 million ($1.2 million) in seed funding from VC firm Samaipata. The investment was meant to be used to improve the cloud-based solution and expand the company.
Circulor (UK)
Founder/s: Veera Johnson, Douglas Johnson-Poensgen
Founded year: 2017
Total funding: $19.5M
Circulor, a London startup uses blockchain and AI to cut the cost of traceability and due diligence in raw materials supply chains. Its pioneer customers include car manufacturers, EV battery manufacturers, commodity traders, and miners who collectively want to pioneer more effective approaches to responsible sourcing.
In June 2021, the provider of supply chain traceability and dynamic CO2 tracking closed $14 million in Series A funding to accelerate the company’s rapid growth.
Tracifier (Germany)
Founder/s: Jako kordi, Mina Kordi
Founded year: 2019
Total funding: NA
Another German blockchain startup that works towards sustainability is Tracifier. This Hamburg-based startup provides food traceability solutions by digitalising transactions and tracking products at each step of the value chain process. The mission of Tracifier is to reduce food fraud in markets and develop sustainability practices in agribusiness worldwide with a blockchain-enabled system for provenance, traceability, and efficiency.
ClimateTrade (Spain)
Founder/s: Francisco Benedito, José Lindo, Pedro Ramon Lopez Garcia
Founded year: 2017
Total funding: $7.7M
ClimateTrade is a Valencian blockchain-based carbon credits trading platform. It helps companies achieve their decarbonisation goals by financing certified carbon offsetting and climate-regenerative projects around the world. Through the marketplace, companies can choose where to invest environmental capital, thereby choosing the projects that are most interesting to each individual company.
Earlier this year, the pioneering blockchain-enabled climate marketplace raised €7 million in an oversubscribed round. It also looking forward to raise another €13 million.
Eiravoto (Ireland)
Founder/s: Steve Cassidy
Founded year: 2015
Total funding: NA
The Irish startup Eiravoto offers a circular waste management solution. Its software leverages artificial intelligence, big data, and blockchain to design and implement waste capture strategies while mitigating risks. By leveraging a dataset of circular materials, it allows companies to capture materials before they end up in waste channels.
Also, it maps and optimises materials’ journey throughout the lifecycle. Its powerful waste classification methodology unlocks the sustainable and economical potential of waste, thereby transforming it into SDG opportunities.
Lablaco (France)
Founder/s: Lorenzo Albrighi, Shih Yun Kuo
Founded year: 2016
Total funding: NA
Lablaco is a universal platform connecting all stakeholders to accelerate digitisation and transition towards a multi-dimensional circular economy for fashion. It is the first blockchain-enabled circular fashion platform, designed to create a next-generation of ecosystem for designer brands.
Cirplus (Germany)
Founder/s: Christian Schiller, Volkan Bilici
Founded year: 2018
Total funding: $3.6M
Cirplus is yet another Hamburg-headquartered startup that brings sustainability with blockchain. It is a global marketplace that develops a digital trading platform for recyclates and plastic waste feedstock. Cirplus works with the mission to make buying and selling recycled plastics easier and more efficient than ever before.
The company’s platform uses AI-powered algorithms and blockchain technology to close the loop for plastics, providing a one-stop-shop for finding, negotiating, contracting, shipping, insuring, and paying for recyclates and plastic waste trades across the globe.
Back in late 2021, Cirplus picked up €3.3 million in funding from international investors.
Empower (Norway)
Founder/s: Carl Nesset, Gjermund Bjaanes, Wilhelm Myrer
Founded year: 2018
Total funding: $938k
Norwegian startup Empower delivers solutions that incentivise transparent and traceable waste collection, sourcing, and recycling. Its eponymous platform certifies recycled plastic and provides access to plastic buyers globally to encourage companies to sell their used plastics. Also, the startup assesses the environmental impact of recycling waste materials into finished products.
Empower has extended the idea behind Norway’s plastic exchange scheme to the global scale by using blockchain.
