EcoNetix, a climate-tech start-up based in Vienna, recently closed a significant 7-digit seed investment round in March 2024. The round was led by Voltares Ventures, with participation from Persistent and asc impact.
EcoNetix is creating a data-driven technology solution for monitoring and tracking CO2 savings (dMRV) while also establishing a global carbon credit portfolio. Working alongside local partners, EcoNetix is dedicated to developing and certifying large-scale reforestation, coastal restoration, and renewable energy projects in Africa. As stated by McKinsey & Company, the CDR market is projected to experience significant growth in the coming years and could potentially reach a value of $1.2 trillion by 2050.
“Our mission is to save 100 million tons of CO2eq by 2030 and bring back trust into the carbon market” say managing directors Jakob Zenz (Founder and CEO) and Paul Nimmerfall (Co-Founder and COO), adding “the carbon market was rightly criticized in the past for lacking transparency, we have started EcoNetix to change that”. David Salzgeber (Co-Founder and CTO) specifies that “being able to gather live data from very remote places is a real game changer. Through our tech solution we collect huge amounts of data via satellites, on-ground sensors, cameras, and weather stations. This ensures high-quality carbon credits”.
EcoNetix is currently operating in 6 countries across 3 continents, including Tanzania, DRC, Kenya, Angola, UAE, and EU. The company has a workforce of over 150 employees and is working with project partners worldwide. With the funding from the seed round, the management aims to expand the core team from 5 to 15 employees and establish 9 country desks within the next 9 months of 2024.
The Seed Round has been led by Voltares Ventures, co-led by Persistent, and financially supported by asc impact.
About the investors:
Voltares is a group of companies dedicated to clean energy, based in Vienna. They are committed to addressing the climate crisis by developing renewable energy projects in the Global South and investing in climate tech companies.
“We are excited to partner with EcoNetix to join the ongoing transformation of the CO2 savings market towards a more transparent, efficient and impactful monitoring. As investors and developers with ongoing projects in Georgia, India and Sri Lanka we eagerly anticipate utilizing the EcoNetix platform from the first moment on” – Cornelius Patt, Founder & CEO.
Established in 2012, Persistent is a key player in Africa’s Climate Venture Builder. The company is at the forefront of investment in off-grid energy and e-mobility sectors in Sub-Saharan Africa, with a portfolio of over 25 early-stage investments in various solar and e-mobility companies. Through its investments, Persistent has positively impacted 5 million lives, powered 600,000 households, avoided over one million tons of CO2e, and generated 15,000 jobs.
“EcoNetix represents the newest generation of innovative carbon project development companies, complementing our existing portfolio and unlocking new revenue streams for the broader climate sector in Africa. We believe companies like Econetix will make carbon markets reliable and trustworthy again and enable carbon finance to accelerate the vital transition required for climate change mitigation. We are also excited to get exposure to the African nature-based solutions space through their work” – Tobias Ruckstuhl, Managing Partner.
“We see EcoNetix’ mission as crucial for the success of the broader carbon market. In a short time Jakob, Paul and their team have shown great initiative and ethics on the ground. They combine creative solutions to problems of the carbon markets and are putting in the hard work wherever it is needed. We were able to compare their work to many other firms: It is our conviction that EcoNetix can deliver high-value and transparent carbon certificates. We are happy to support the Seed Round with a substantial financial commitment in order to strengthen our partnership” – Karl Kirchmayer, Managing Partner.
Pochodzenie wiadomości: pap-mediaroom.pl
