Foodlabs, Salvia, Mudcake, Carbon Removal Partners, and Übermorgen Ventures are investing €4.3 million in Inplanet. The Munich-based climate tech startup was founded in 2022 by Felix Harteneck and Niklas Kluger and focuses on enhanced rock weathering (ERW). This involves spreading large quantities of rock flour on fields in tropical regions, which has the potential to capture gigatons of carbon from the atmosphere. ERW also regenerates tropical soils and fertilizes crops, enabling farmers to reduce the use of limestone, synthetic fertilizers, and pesticides.
"The rapid progress we've made over the past twelve months demonstrates the enormous potential of ERW as a CDR technology and as an opportunity for farmers. We look forward to working with our partners and investors to pave the way for Inplanet to establish itself as a thought leader in the tropics! I'm especially grateful for our rapidly growing, impact-oriented team, which, together with us founders, forms a unique corporate culture."
says Felix Harteneck, CEO of Inplanet.
Inplanet: Second financing round within a year
In January of this year, Carbon Removal Partners, Übermorgen Ventures, Trellis Road, Katapult and the Carbon Drawdown Initiative already invested 1.2 million euros in the company. The latest round of financing will be used to expand the company's measurement, reporting and verification capabilities, as well as to spread 200,000 tons of rock flour to capture 40,000 tons of CO2.
Patrick Noller, General Partner at FoodLabs, comments on the seed round:
"We are thrilled to be part of Inplanet's unique journey and continued success. The company is generating significant excitement in the ERW industry, and we are confident it will deliver on its promise."
Helmut Jeggle, Founder and Managing Partner at Salvia, says:
"The climate crisis is one of the greatest threats facing our planet today. It's important to us to take responsibility in this regard. That's why we want to use our experience in building innovative companies to help scale pioneering technologies that accelerate climate change. We're impressed by Inplanet's work and excited to be part of the journey ahead."
