Climate tech
Q3 202401.08.2024

Carbon accounting & offsets (2024)

Picture of Freya Pratty

Freya Pratty

at Sifted

Two years ago, VCs were tripping over themselves to invest in carbon accounting startups — which make tools to help businesses measure their emissions. But things were significantly quieter in 2023, and funding levels in 2024 are flat.

Some segments are doing well — carbon offset marketplaces, where businesses can select credits, are popping up around Europe.

Startups are also developing carbon registries — which assess the legitimacy of credits and put a stamp of approval on them — as well as producing data that can be used by companies and asset managers to assess the quality of credits they intend to purchase.

We’re seeing more specialism: startups are increasingly focusing on specific sectors, promising tailored measurements for industries like food and fashion, financial services and real estate.

Another trend: carbon credit marketplaces are turning away from offsets that avoid carbon entering the atmosphere, and towards ‘removals’, which actively remove carbon from the atmosphere.

20 startups to watch

  • CO2 AI logo

    Sifted score

    8.03
    -

    CO2 AI

    • Strong investor(s)
    • Serial founder(s)
    • Hiring

    • Year founded

      2023

    • HQ

      Paris, France

    • Latest round

      Seed
      €11m / Sep 2023

    • Total funding

      €11m

    View company profile
  • Climatiq logo

    Sifted score

    7.83
    -

    Climatiq

    Automated carbon emissions management solution.

    • Strong investor(s)
    • Serial founder(s)

    • Year founded

      2021

    • HQ

      Berlin, Germany

    • Latest round

      Seed
      €6m / Oct 2022

    • Total funding

      €7.8m

    View company profile
  • Vaayu logo

    Sifted score

    7.81
    -

    Vaayu

    Carbon emissions calculation for retailers.

    • Serial founder(s)
    • Hiring

    • Year founded

      2020

    • HQ

      Berlin, Germany

    • Latest round

      Seed
      €10.4m / Apr 2022

    • Total funding

      €11.9m

    View company profile
  • CarbonPool logo

    Sifted score

    7.3
    -

    CarbonPool

    • Serial founder(s)

    • Year founded

      2023

    • HQ

      Zurich, Switzerland

    • Latest round

      Seed
      €10.9m / Jan 2024

    • Total funding

      €10.9m

    View company profile
  • goodcarbon GmbH logo

    Sifted score

    7.3
    -

    goodcarbon GmbH

    • Serial founder(s)
    • Hiring

    • Year founded

      2021

    • HQ

      Berlin, Germany

    • Latest round

      Seed
      €5.3m / Apr 2024

    • Total funding

      €11.8m

    View company profile

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