Funding

[Funding alert] Munich-based InPlanet Secures €5.6M in Funding

Nov 16, 2023 | By Startup Rise EU

Munich-based InPlanet secures €5.6M in funding. The German-Brazilian company InPlanet secured a €4,3M Seed round in October 2023, following the €1,3M Euros Pre-seed funding from January.
Team - InPlanet

Munich-based InPlanet secures €5.6M in funding. The German-Brazilian company InPlanet secured a €4,3M Seed round in October 2023, following the €1,3M Euros Pre-seed funding from January.

The investment is from leading impact, climate and deeptech investors, FoodLabs and Salvia, as well as investors from the Pre-Seed Round who invested again, Mudcake, Carbon Removal Partners and Übermorgen Ventures.

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InPlanet’s goal is to build a scalable solution for Carbon Removal through Enhanced Rock Weathering in the tropics and to become the leading company doing so.

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The most recent round of funds will be used to scale the company’s Measurement, Reporting and Verification capabilities, as well as to spread 200,000 tonnes of rock powder to capture 40,000 tonnes of CO2, keeping InPlanet on pace to remove 1M tonnes of CO2 by 2026.

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The company plans to remove its first megaton of carbon by 2026, while developing strong partnerships. The global interest in Enhanced Rock Weathering is largely driven by the demand for regenerative agriculture to produce CO2 neutral products.

Felix Harteneck, CEO of InPlanet said, "The rapid progress we made in the last twelve months is demonstrating the huge potential of ERW as a CDR technology as well as a game changer for farmers. We are excited to pave the way with our partners and investors to establish InPlanet as a thought leader in the tropics! I am especially thankful for our fast-growing, impact-driven team, forming a unique company culture with us founders".

InPlanet accelerates this natural Carbon Removal process by distributing suitable rock powder on agricultural land in the tropics, because climate and soil provide optimal weathering conditions.

Read also - Chasse sur Rhône-based Recyc’ELIT Raises €3.2M in Funding

Co-Founder and COO, Niklas Kluger, who manages operations in Brazil, observed that working with the Farmers and Science community has built their confidence in the carbon removal potential of ERW as well as the co-benefits.

Patrick Noller, General Partner at FoodLabs said, “We are so excited to be a part of InPlanet’s unique journey and continued success - they are creating a huge buzz in the space of ERW and we are confident they will keep delivering on their promise”.

Helmut Jeggle, Founder and Managing Partner at Salvia said, “The climate crisis is one of the largest threats to our planet in modern times. It is important for us to take on responsibility in this matter, which is why we want to support with our experience building innovative companies, to help scale forward-looking technologies, which accelerate the climate transition. We are impressed with the work of InPlanet and excited to be a part of the onward journey”.

About InPlanet

InPlanet goal is to reverse climate change and enhance the regenerative, low-carbon, and sustainable characteristics of tropical agriculture. They are an impact-driven, remote-first, ClimateTech Carbon Dioxide Removal (CDR) startup with headquarters in Germany and Brazil. They take such action to make the earth habitable for next generations.

Read also - Finnish-based Cleantech Startup SpinDrive Raises €3.8 Million in Series A Round Funding

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