Terms
- Announced
- 17 Oct 2023
- Instrument
- Equity
- Amount
- US$3.70mReported as EUR 3.5m, converted at 1.0566 USD/EUR (October 2023 average)
- Source
- rockstart.com
Parties
- Project developer
- Klimate.co
- Recipient type
- Marketplace
- Country
- Denmark
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis Eneco Ventures Investor US$0.74m Estimated: an even share, 1 of 5 Helen Ventures Investor US$0.74m Estimated: an even share, 1 of 5 Rockstart Investor US$0.74m Estimated: an even share, 1 of 5 Export and Investment Fund of Denmark (EIFO) Investor US$0.74m Estimated: an even share, 1 of 5 The Footprint Firm Investor US$0.74m Estimated: an even share, 1 of 5
Carbon
- Pathway
- Carbon market infrastructure
What happened
- Eneco Ventures and Helen Ventures co-led; Rockstart and EIFO are existing investors. Kromann Reumert advised and is not a provider. The 2021 pre-seed investors, including Vaekstfonden, belong to that earlier round; EIFO absorbed Vaekstfonden on 1 January 2023, so the Danish state is credited once.
Kumo note
- Two European utility venture arms, one Dutch commercial and one owned by the City of Helsinki, led a seed into a carbon removal buyer rather than a supplier, which is an unusual place for utility strategic money to sit.
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