Foodlabs, Salvia, Mudcake, Carbon Removal Partners and Übermorgen Ventures are investing 4.3 million euros in Inplanet. The climate tech startup based in Munich was founded in 2022 by Felix Harteneck and Niklas Kluger and focuses on enhanced rock weathering (ERW). The technology involves spreading large quantities of rock dust on agricultural land in tropical regions, which has the potential to sequester gigatons of carbon from the atmosphere. In addition, ERW regenerates tropical soils and fertilizes crops. This allows farmers to reduce their use of limestone, synthetic fertilizers and pesticides.
“The rapid progress we have made over the last 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 establish Inplanet as a thought leader in the tropics! I am particularly grateful for our rapidly growing, impact-oriented team, which together with us founders creates a unique company culture”,
says Felix Harteneck, CEO of Inplanet.
Inplanet: second funding round within a year
In January 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 funding round is intended to support the expansion of the company’s measurement, reporting and verification capabilities as well as the application of 200,000 tonnes of rock dust to sequester 40,000 tonnes of CO2.
Patrick Noller, general partner at FoodLabs, comments on the seed round:
“We are very pleased to be part of Inplanet’s unique journey and continued success. The company is generating considerable excitement in the ERW industry and we are confident that it will deliver on its promise.”
Helmut Jeggle, founder and managing partner at Salvia, says:
“The climate crisis is one of the greatest threats to our planet today. It is important for us to take responsibility here. That is why we want to use our experience in building innovative companies to help scale forward-looking technologies that combat climate change. We are impressed by Inplanet’s work and look forward to being part of the next chapter.”
