Kita Raises £4 Million for Carbon Insurance Expansion
Kita, a promising carbon insurance company based in Worcester, UK, has successfully raised an impressive £4 million in Seed funding. This significant round of funding was spearheaded by Octopus Ventures, a key player in the venture capital space, with additional contributions from existing investors such as Insurtech Gateway, Carbon13, Climate VC, Chaucer Group, and Hartree Partners. The financial backing will allow Kita to expand its operations, strengthen its technological capabilities for risk modeling, and enhance its service offerings in the fast-evolving market of carbon insurance.
Founded in December 2021 by the innovative trio of Dr.
Paul Young, Thomas Merriman, and Natalia Dorfman, Kita specializes in providing insurance solutions tailored to mitigate risks associated with carbon credit transactions. The company's focus is on developing products that ensure the quality and effectiveness of carbon purchases, a critical aspect in the fight against climate change. Their inaugural insurance product, known as Carbon Purchase Protection Cover, is designed to protect buyers of carbon removal credits from the risk of under-delivery, thereby promoting confidence and reliability in carbon markets.
The acquisition of this funding will enable Kita to assemble a robust team and broaden its technological advancements in risk assessment. In addition to launching Carbon Purchase Protection Cover, the company has ambitious plans to create a comprehensive portfolio of carbon insurance products that can address a wide array of risks present in carbon markets. By actively engaging in this burgeoning sector, Kita aims to play a pivotal role in supporting sustainable practices and facilitating investment in carbon offset initiatives, ultimately contributing to global efforts in combating climate change.
They've invested in Kita
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| Investors | Investment Focus | Startup Investments | Round Size | Connect |
|---|---|---|---|---|
 Octopus Ventures( ) This venture capital firm focuses on investing in sectors such as B2B Software, ... London  | ||||
 Insurtech Gateway( ) Insurtech Gateway is a specialist insurtech incubator investing early in mission... London | ||||
 Climate VC( ) | ||||
 Hartree Partners( ) NYC, US  | ||||
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