Kita has announced a highly over-subscribed £4m seed funding round
IN BRIEF:
- The round is led by Octopus Ventures, alongside existing investors Insurtech Gateway, Carbon13 and Climate VC, and new investors Chaucer Group and Hartree Partners
- The funding is being used to launch Kita’s first insurance product, Carbon Purchase Protection Cover for carbon removal financing, and to rapidly scale further product development and regional expansion
- Kita, the carbon insurance specialist, is a first mover in the fast-developing world of carbon insurance for the growing carbon markets, helping reduce risk in carbon credit transactions with insurance products that safeguard the quality and performance of carbon purchases
What does this mean?
Natasha Jones at Octopus Ventures said “carbon removal plays a critical role in the fight against climate change and there is a pressing need to scale these technologies at an unprecedented size and pace. Insurance is essential to enable this rate of growth by de-risking investments into carbon removal solutions and building in incentives that increase the supply of high-quality carbon credits in the market. We are thrilled to have the opportunity to work with Kita in bringing ‘first of its kind’ carbon insurance solutions to market to help unlock billions of dollars of investment into the space, increase transparency in the Voluntary Carbon Market, and fight the climate crisis.”
