MUNICH
,
July 5, 2022
(press release)
–
Pina Earth is building an online platform to certify a forest’s carbon storage and connect landowners to carbon credit buyers. Since its launch in 2021, the startup founded by Dr. Gesa Biermann, Florian Fincke, and Jonas Kerber revolutionizes how forest carbon projects are created and certified. Over 60% of EU forest biomass is at risk due to climate change. Carbon markets pose a way to realign ecology and economy, but setting up a forest carbon project currently entails high costs, long lead times, and requires expert guidance. These antiquated processes create intransparency and block market access, especially for smaller forest owners. The Munich-based climate tech startup has closed a $2.5 million seed funding round. The round is led by XAnge with participation from Nordstar, 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 round follows Pina Earth’s pre-seed funding by Silicon Valley investor Y Combinator earlier this year. Co-Founder and CEO Dr. Gesa Biermann is excited about the new investors, “The support of this group of top-tier investors is a tribute to the speed at which we have made progress since founding just a year ago,” she explains, “All of this is possible because we have a team of A-players working together on an urgent mission: making Europe’s forests future-proof”. “XAnge is proud to continue investing in climate tech and support European forest adaptation. Pina Earth’s technology generates high-quality European nature-based carbon credits, for which demand will continue increasing. This investment is a contribution to protecting both the financial and the environmental value forests provide,” say Nadja Bresous, Partner (Paris) and Astrid Moullé-Berteaux, Associate (Berlin) of XAnge. The new funds will be used for several key hires and product development. Moving from pilot projects in Germany, the team aims to scale their impact to forests EU-wide. If you are interested in further information or an interview with the founders, please contact press@pina.earth.
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