Octopus Ventures led the oversubscribed seed round alongside participants including Insurtech Gateway and Chaucer Group.
"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."
The seed round was led by 24Haymarket with participation from Oxford Innovation EIS Growth Fund 2 to support commercial scale-up.
"Our continued research and innovative work has resulted in a coloured carbon fibre composite that is light and strong, without compromise, pushing the boundaries of design and technology."
The oversubscribed round was led by Bosch Ventures with backing from Porsche SE and British Patient Capital.
"The support of leading technology investors enables us to realise our vision of a quantum computer built using standard foundry processes. This support, along with the continuing UK national quantum programme and European initiatives, provides a step-change in our capabilities. We have assembled a world leading team and with the funding and support in place, we are ready to scale and deliver on our vision."
The funding round was led by Zouk Capital alongside new investor Vortex Energy.
"We’re super excited to welcome Vortex Energy as our new growth investor alongside our long-term and trusted partner, Zouk Capital. The combined knowledge, international experience, and funding capacity will accelerate our growth, expand geographic reach, and drive innovation to deliver an ever-advancing suite of solutions to our customers not only in the UK and Europe but in fast-growing markets like North America."
