Kolum funding news – Berlin-based Kolum Raises €2.1Million in Pre-Seed Funding

Leading the funding round was FoodLabs, with participation from prominent business angels with expertise in Customs, B2B SaaS, and ClimateTech. These individuals included Janine Lampprecht, Managing Director of Grenzlotsen, Markus Sudhoff, Managing Partner of Climate Founders, Markus Linder, Founder of Zoovu, Inoqo, and Anna Alex, Co-Founder of Outfittery, Planetly, and Nala Earth.

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The end-to-end software solution from Kolum is made to make it easier and more efficient to comply with laws governing carbon pricing, like the EU's Carbon Border Adjustment Mechanism (CBAM). Beginning on October 1, 2023, EU businesses importing specific commodities from non-EU nations are required to adhere to CBAM, which sets a price for these imported items' CO2 emissions. This rule creates serious data reporting requirements and possible fines for non-compliance, even if it reduces carbon leakage and fosters fair competition.

Marius Sprenger, Co-Founder of Kolum, highlighted the impact of CBAM: “The EU CBAM alone is expected to save up to 100M tons of CO2 annually when fully implemented. However, affected organisations face significant challenges in tracking supply chain emissions and managing carbon pricing costs. The Kolum software integrates with existing processes to help organisations stay compliant and manage carbon costs efficiently.”

Kolum's solution will continue to be developed with the help of the additional investment, with the goal of building a comprehensive platform for managing carbon price. With the aid of this platform, businesses globally will be able to effectively handle adherence to diverse carbon pricing legislation and emission trading systems, facilitating well-informed decisions concerning product sourcing and location.

Patrick Noller, General Partner at FoodLabs, expressed confidence in Kolum’s vision: “Currently, there is not only a lack of reporting solutions but an overall lack of understanding on how to report in a CBAM-compliant way. Kolum is one of the first players entirely focusing on this new regulation, and we believe the team is in a strong position to establish a dominant role early on.”

About Kolum

Kolum is developing technology that enables EU businesses to adhere to all rules under the Carbon Border Adjustment Mechanism (CBAM). Organise and categorise your imports, compute your emissions automatically, ask manufacturers and suppliers for emission information, and easily generate your CBAM reports.