Speedinvest leads €1.5М round for French carbon credit issuing and selling startup Riverse
The Paris-based carbon credit issuing and selling platform Riverse has raised €1.5 million in a new funding round led by Austrian Speedinvest. The startup plans to use the investment to further grow its technical offering and accelerate the expansion into the German and UK markets, Tech.eu reports.
- Launched in 2021, Riverse develops a carbon credit standard and a tech solution to digitize the measurement, reporting and verification (MRV) process for carbon credit issuance. This includes:
- a comparative life cycle assessment to determine the impact of each project
- a digital report generated and sent to independent third-party auditors for credit validation
- automated verification of project impact
- information on certified projects listed transparently on a registry connected to a network of carbon credit resellers.
- Currently, the startup focuses on SMEs operating in the fields of biogas, reconditioning of CO2-intensive equipment, biochar or bio-based construction materials.
- The round was co-led by Vienna-based VC fund Speedinvest and Techstars Berlin, with participation from another angel investors. Speedinvest recently joined＄4.2 million round for German Blocktorch.
- The startup plans to use the investment to further grow its technical offering and to expand into the German and UK markets.