Pina Earth receives seed capital for forest conversion projects
- Pina Earth enables forest owners to realizecarbon projects through a range of digital data collection, monitoring and certification solutions
- After being accepted into the highly competitive Y Combinator earlier this year, Pina Earth has now received € 2.4 million from high-profile investors
- The new investors include XAnge, Nordstar, Climate Capital, Gustaf Alstromer (partner at Y Combinator) and Lea-Sophie Cramer (founder of Amorelie)
Munich, July 2022 - Pina Earth is developing an online platform to certify the carbon storage of forests and connect forest owners with buyers of carbon credits. Since its founding in 2021, the startup founded by Dr. Gesa Biermann, Florian Fincke and Jonas Kerber has been revolutionizing the certification of forest carbon offset projects.
Over 60% of forest biomass in the EU is currently threatened by climate change. CO₂ markets offer an opportunity to reconcile ecology and economy. However, the sale of carbon credits from forest carbon offset projects is currently associated with high costs and long lead times for certification. Many manual process steps and intermediaries create a lack of transparency and block market access, especially for smaller forest owners.
Munich-based ClimateTech startup Pina Earth has closed a €2.4 million seed financing round. The round is led by XAnge and Nordstar, with participation from business angels such as Gustaf Alstromer (Partner at Y Combinator) and Sundeep Ahuja (Partner at Climate Capital) as well as serial founders such as Lea-Sophie Cramer (Amorelie) and Anselm Bauer-Wohlleb (Alasco, Stylight). The financing round follows the pre-seed financing of Pina Earth by Silicon Valley investor Y Combinator earlier this year. Co-founder and CEO Dr. Gesa Biermann is delighted with the new investors: "The support from this group of high-profile investors is a confirmation of the speed at which we have made progress since our founding just one year ago," she explains, "All of this is possible because we have a strong team working together on an urgent mission: Making Europe's forests climate resilient."
"XAnge is proud to continue investing in climate tech and supporting the climate resilience of European forests. Pina Earth's technology produces high-quality Europen carbon credits for which demand will continue to grow. This investment is a contribution to protecting the financial and environmental value of our forests", say Nadja Bresous, Partner (Paris) and Astrid Moullé-Berteaux, Associate (Berlin) of XAnge.
The new funds will be used to fill several key roles in the team and for further product development. Starting with pilot projects in Germany, the company intends to expand its activities to forests throughout the EU.
If you are interested in further information or an interview with the founders, please contact press@pina.earth.
