Oka, a Park City, UT-based carbon insurance company, raised $10M in funding.
The round was led by Aquiline Capital Partners and firstminute capital, and Overview Capital.
The company intends to use the funds to support its risk-based capital requirements and operational growth.
Led by CEO Chris Slater, Oka, The Carbon Insurance Company™ , is de-risking the voluntary carbon market (VCM) for buyers and sellers of carbon credits. Its carbon insurance solution provides buyers with financial compensation in the event of unforeseeable and unavoidable post-issuance risks, including reversal and invalidation.
Commenting on the news, Chris Slater said: “In a difficult market for venture funding and the VCM alike, we’re delighted by the vote of confidence in Oka. The capital committed by our brilliant investors and capital partners puts us one step closer to realizing our ambitious vision of insuring every carbon credit. Coupled with our early customer traction, their invaluable support reinforces our thesis that insurance is the “missing piece” required to unlock transformational market scale.”
FinSMEs
28/03/2024