InPlanet raised an oversubscribed Seed round to increase funding to €5,6M from leading impact, climate and deeptech investors, to become the leading Enhanced Rock Weathering company in the tropics.
– Spreading large amounts of rock powder has the potential to remove gigatonnes of carbon from the atmosphere in a safe and affordable way, and lock carbon away for thousands of years.
– With focus on tropical agriculture, InPlanet will use the funds to scale the company’s Measurement, Reporting and Verification capabilities, and to spread 200,000 tonnes of rock powder to capture 40,000 tonnes of CO2.
– InPlanet is on pace to remove 1M tonnes of CO2 by 2026.
November 9th 2023 – The German-Brazilian based 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. 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.
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.
“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”, says Felix Harteneck, CEO of InPlanet.
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.
Throughout earth’s history, most of our atmospheric carbon dioxide has been removed through weathering of silicate rocks, which react with water and CO2 and as a result, dissolved bicarbonates are produced. Eventually they wash away through groundwaters and rivers to oceans where they form carbon rich sediments. 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.
In addition to the ability to remove carbon from the atmosphere, Enhanced Rock Weathering regenerates tropical soils and fertilises crops. This allows farmers to reduce the input of limestone, synthetic fertilisers and pesticides. Therefore, InPlanet also contributes to emission reductions and a more sustainable way of farming, growing healthier and more nutritious food.
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.
InPlanet’s team continues to grow and many of them are leading experts in their respective fields of expertise. InPlanet’s investors have commented on the importance and scalability of the company’s work to mitigate climate change:
“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”, says Patrick Noller, General Partner at FoodLabs.
“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”, says Helmut Jeggle, Founder and Managing Partner at Salvia.
Read the full press release here: Press Release – InPlanet Seed Round Funding