Artio, a climate InsurTech startup based in London, has successfully secured £550k in funding to revolutionise insurance solutions for early-stage carbon removal projects.
The £550k funding round was led by Lifetime Ventures, known for their expertise in climate technology, and included contributions from SFC Capital, a leading UK pre-seed investor.
Artio’s business revolves around developing proprietary risk modelling platforms tailored for early-stage carbon projects. Their products are designed to mitigate investment risks from the outset, thereby enabling investors to support high-quality carbon removal projects with greater confidence. This is crucial for increasing the supply of reliable carbon credits, which are vital for meeting corporate and governmental climate commitments by 2030.
The new capital will be used to accelerate the development of Artio’s insurance products and to expand their team. They plan to launch their first products aimed at carbon removal projects in early 2025. These offerings are being developed in collaboration with experienced insurance partners within Lloyd’s Lab.
Artio’s initiative comes at a time when the demand for dependable solutions in carbon finance is surging. Their approach not only enhances market growth but also introduces much-needed transparency and accountability into the carbon credit sector.
Artio CEO Bilal Hussain highlighted the necessity of their products, saying, “I’ve directly seen carbon project investments fall through due to the risk of under-delivery. We need datasets built for early-stage risk modelling, and that’s what we are building to power our insurance products.”
Lifetime Ventures’ General Partner, Koshu Kunii, also commented on the investment: “We believe that solving climate challenges requires risk transfers to unlock massive capital flows towards climate solutions, and our investment in Artio aligns with our commitment to backing tech-driven solutions. Artio’s scalable approach to insuring carbon credits brings transparency and accountability to a vital carbon financial market, enabling a more effective path to decarbonization”
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