Copenhagen-based Klimate.co has secured €3.5 million in a seed funding round led by Eneco Ventures and Helen Ventures. It was also joined by existing investors Rockstart known for investing in Dexter Energy and Helio and the Export and Investment Fund of Denmark (EIFO). With this round, the total funding raised by the company accounts for €75 million.
The financing round will facilitate the company in further accelerating its commercial efforts, enhance the platform’s capabilities and succeed in its mission to scale up the carbon removal capacity available for companies willing to reduce and offset emissions.
Addresses climate change
Founded in 2020 by Katja Grothe-Eberhardt and Simon Bager, Klimate.co helps companies achieve Net Zero by combining the world’s best carbon removal methods into portfolios that match their clients’ budgets and ambitions. It is 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, emphasising environmental responsibility and promoting social and economic development.
It provides an integrated platform for high-quality carbon removal strategy and action where its clients, climate responsible companies. The platform allows for integration with companies’ emission data, target years it has determined and the scopes of removal it wants to implement. This way users can choose from and start planning which methods and projects to include in their strategy.
Katja Grothe-Eberhardt, Founder and CEO of Klimate.co, said: “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”
Robert Blom, Investment Director, Eneco Ventures, commented: “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.”
Mikael Myllymäki, Vice President and Head of Helen Ventures, added: “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.”
Max ter Horst, Managing Partner of Rockstar Energy, commented: “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.”
