Image credits: ClimateTrade
ClimateTrade, a Valencia-based blockchain-enabled climate marketplace, announced on Monday that it has secured €7M in a Pre-Series A round of funding.
Conexo Ventures, ClearSky, Borderless Capital and Algorand, SIX FinTech Ventures, Wayra, Amasia, and Zubi Capital participated in the oversubscribed round.
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The Spanish company is looking to raise another €13M in a US-focused round in the next five months for international expansion.
Fund utilisation
ClimateTrade says the new funding enables it to grow its activities in Europe, Asia, and the US with new offices, expand its technology product offering, and hire new talent.
“For four years, ClimateTrade’s vision has been to enable climate action through technological innovation. Our blockchain-backed marketplace allowed companies to offset almost 2 million tons of CO2 in 2021 alone. This oversubscribed funding round is a testament to the impact ClimateTrade has already generated, and we are excited to further our action against climate change with this new infusion of capital,” says Francisco Benedito, ClimateTrade’s CEO.
ClimateTrade: What you need to know
Founded in 2017, ClimateTrade helps companies achieve their decarbonisation goals by financing certified carbon offsetting and climate-regenerative projects globally.
The company uses blockchain technology to provide transparency on carbon offset projects.
The Spanish company has recently launched an API and widget to allow companies to offer carbon-neutral products and services to their customers.
ClimateTrade US will be headquartered in Miami, given the city’s interest in combating the climate crisis and its emergence as a global hub for the decentralised economy.
Right now, the company’s clients include Cabify, Banco Santander, Telefónica, Correos and Telégrafos, and Prosegur, among others.
Investors
Based out of Madrid, Conexo Ventures invests in individuals with a passion for solving hard challenges and bringing disruptive innovation to high-growth markets.
ClearSky is a Florida-based venture & growth equity firm investing in tech/services for enterprise customers, with a focus on the power sector.
Boston-based Borderless Capital is a Blockchain-focused venture capital group.
Zurich-based SIX FinTech Ventures is the corporate venture capital arm of Six Group. It invests in global early-stage startups in the financial technology space.
California’s Amasia is a venture capital investment firm that invests from Seed to Series B stages.
The Spanish company Zubi Capital is the investment arm of Zubi Labs that offers financial services to socially and environmentally responsible companies.
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