Kita, a Worcester, UK-based carbon insurance company, raised £4M in Seed funding.
The round was led by Octopus Ventures, with participation from existing investors Insurtech Gateway, Carbon13, Climate VC, Chaucer Group and Hartree Partners.
The company intends to use the funds to build its team, scale its underlying technology-based risk modelling, launch its first insurance product, Carbon Purchase Protection Cover, and begin building a wider portfolio of carbon insurance products to cover the full spectrum of risks in the carbon markets.
Founded in December 2021 by Dr. Paul Young, Thomas Merriman and Natalia Dorfman, Kita is a carbon insurance specialist, helping reduce risk in carbon credit transactions with insurance products that safeguard the quality and performance of carbon purchases. Its first product is Carbon Purchase Protection Cover, protecting buyers of purchased carbon removal credits against under-delivery.
FinSMEs
22/02/2023