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HomeFunding Kyiv-based Climatetech Startup Carbominer Raises €1.5Million in Funding

[Funding alert] Kyiv-based Climatetech Startup Carbominer Raises €1.5Million in Funding

Climatetech Startup Kyiv Carbominer raises €1.5million in funding and is eligible for up to €7.5 Million in equity at the later stages of the project.

Kyiv-based Climatetech Startup Carbominer raises €1.5million in funding and is eligible for up to €7.5 Million in equity at the later stages of the project.

EIC Accelerator is one of the biggest funding opportunities in Europe supporting innovative startups and high-risk small and medium-sized businesses that might contribute to rapid economic growth and sustainability transition.

Read also – Eindhoven-based Scinvivo Raises €4.7 Million in Funding

Each year around 3000 startups and SMEs apply for funding from the EIC Accelerator, and the average success rate from the first short submission to awarding is around 7%. One of the awardees was Carbominer, a climate tech startup founded in 2020 by a Ukrainian innovator with an engineering and corporate background Nick Oseyko.

The whole grant application process took 8 months and included short application preparation, long application, review time by the Commission and the final interview in October with seven experts from a different background – from engineering to venture capital.

Read also – Darmstadt-based Threedy Raises €9.6 Million in Series A Round Funding

The team firmly believes that CO₂ is a valuable feedstock rather than a dangerous waste and can bring good use for various types of customers around the globe. And, as a DAC technology provider, Carbominer can serve any industry that needs fossil-free or high-purity CO₂.

The first focus area where the team aims to make an impact is Indoor Agriculture. The vision driving the team is to enable more sustainable and efficient food production by supplying green atmospheric CO2 to indoor farmers.

Read also – Copenhagen-based Spektr Secures €5 Million in Funding

Carbominer is the second Ukrainian startup to receive financing under the new EIC Accelerator program, operational since 2021. In 2022 same type of financing was received by another Kyiv-based project Releaf Paper.

ABOUT CARBOMINER

Carbominer is a modular Direct Air Capture technology provider from Ukraine. The main product offering is the sustainable CO₂ captured from the open air. With this fossil-free CO₂, farmers can sustainably promote crop yield by 30% in their greenhouse or vertical farm.

Read also – Tallinn-based Cognitiwe Secures €1Million in Funding

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