Terms
- Announced
- 3 Jun 2024
- Instrument
- Equity
- Amount
- US$4.31mReported as EUR 4m, converted at 1.0765 USD/EUR (June 2024 average)
- Source
- ecolocked.com
Parties
- Project developer
- ecoLocked GmbH
- Recipient type
- Technology company
- Country
- Germany
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis Matterwave Ventures Investor US$0.72m Estimated: an even share, 1 of 6 Climentum Capital Investor US$0.72m Estimated: an even share, 1 of 6 Counteract Investor US$0.72m Estimated: an even share, 1 of 6 SFO Investor US$0.72m Estimated: an even share, 1 of 6 Sabanci Building Solutions Investor US$0.72m Estimated: an even share, 1 of 6 VOYAGERS Climate-Tech Fund Investor US$0.72m Estimated: an even share, 1 of 6
Carbon
- Pathway
- Biochar
What happened
- Matterwave Ventures and Climentum Capital co-led; the rest are existing investors. The company writes SFO and Voyagers.
Kumo note
- A seed co-led by two funds and otherwise filled entirely by existing backers, including a Turkish building materials group investing strategically in the product it would buy. The removal is locked into concrete rather than soil, which puts the permanence question on the life of the structure.
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