Carbonfuture, the digital MRV (monitoring, reporting, verification) platform and marketplace for high-quality carbon removal credits, successfully raised €5.5 million in a round led by its existing investors Carbon Removal Partners, Übermorgen Ventures, and WiVenture. They were joined by tech4good venture capital fund 4impact capital and value-add investor Sustainable Future Ventures.
The fresh funding will allow Carbonfuture to further grow its presence with a focus on the US market, enabling it to meet the growing demand of high-ranking customers like Microsoft, Swiss Re, Klarna, and South Pole. This will be achieved by broadening the range of innovative carbon removal technologies supported by its platform, as well as by the expansion of its platform services to additional ecosystem partners.
The demand for carbon removal credits continues to grow as companies reduce their greenhouse gas emissions but realize that their internal efforts alone will not allow them to reach their climate commitments. The market for carbon credits is growing rapidly and is expected to reach a worth of $50 billion by 2030 but that growth runs the risk of being undermined by low quality credits that do not deliver on their claims of additionality or durability.
Carbonfuture has stepped in to provide a critical solution that enables a high-quality credit market to scale rapidly, while delivering the promised environmental benefits. Carbonfuture’s end-to-end platform integrates carbon tracking, third-party credit standards, and financing tools across carbon removal technologies, ensuring a new tier of credit quality for buyers and sellers, as well as reducing friction for rapid industry growth. Customers include some of the largest carbon removal buyers in the world, such as Microsoft, SwissRe, Klarna and South Pole.
Founded in 2020, Freiburg-based Carbonfuture has established a fast-growing MRV system for carbon removal. A transparent and auditable system hosts premium carbon removal credits – carbon removal you can trust – with the built-in ability to scale across a wide range of carbon removal technologies. This approach ultimately de-risks the adoption and long-term commitment to carbon removal by buyers.
“Our seamless digital carbon tracking solution and strict adherence to independent standards and audits are the main building blocks that guarantee our carbon removal credits transparently deliver the climate impact they claim to make. Leading buyers already identified these trust-building elements as value drivers“, Hannes Junginger-Gestrich, CEO of Carbonfuture.
“Carbonfuture’s MRV technology enables and vastly accelerates the adoption of high-quality carbon removal credits. We have been impressed by the exceptional team and look forward to working with them to create a more transparent, homogenous, and liquid carbon removal credit market“, Ali Najafbagy, Founding Managing Partner of 4impact capital.