The funding round was led by KOMPAS VC to support manufacturing expansion and further research and development.
"What makes Material Evolution different is that we don’t believe it will be one material that saves the world. We believe that to rapidly scale across the industry we need to have localised material sources. We have created a product that not only produces lower emissions but is also lower in cost and has a higher performance. There is no silver bullet solution, but we believe that by decentralising cement production and using previously inaccessible waste we can scale our solution on a global level and truly change the cement industry."
The pre seed round was structured by South Pole, QVentures and Portfolion to prepare for a European rollout.
"We are excited to get started and solve a pressing issue around greenwashing and questions that a lot of the corporate sector are asking right now: where do my certificates come from? will they count towards my sustainability targets? are they impactful? can they be matched to my exact consumption? This is why Renewabl was born."
"In 2019, we identified a gap in the market for a solution like Pulse®, and we anticipated that demand for such a solution would be accelerated by prevailing market forces that many had failed to recognise or piece together. In the face of early scepticism the team persevered through some of the most challenging circumstances to bring our vision to life."
The financing round was led by Peter Thiel's Valar Ventures to support the platform's separation from Bitpanda and its development as an independent exchange.
"given its potential, we also knew and planned that its success would naturally make it evolve to become its own business."
