Kwota aims to establish global quota standards, lands €1.5 million

Using NFTs and other Web3 technologies, Tallinn-based Kwota aims to establish a global standard that will validate and trade carbon emissions savings from using recycled materials in production
Kwota aims to establish global quota standards, lands €1.5 million

Tallinn-based cleantech startup Kwota has raised €1.5 million in a pre-seed funding round. The company aims to establish a global standard that will validate and trade carbon emissions savings from using recycled materials in production. 

“We have a clear vision on how to achieve the global change in the material industry. We drive the global disruption for the material manufacturing industry by bringing more money to those who use recycled materials in their production,” commented founder and CEO Rain Vääna.   

The company plans to use NFT and Web3 technologies to establish this accountability factor.

“Recycled materials will get a digital footprint that guarantees unique transparency of carbon savings reporting and trading,” added Vääna.

Kwota’s €1.5 million pre-seed round was led by Change Ventures with Wise Guys Ventures, Lemonade Stand, Greenco Ventures, Vestman Energy, and angel investor linkedin.com/in/janiskrums/ participating.

“Kwota is re-writing the rules in the carbon credits market in a couple of key ways. First - Kwota flips the economics of CO₂ credits from 20%-80% in favor of consultants to 80-20% in favor of carbon reducers. Second – Kwota revamps the economics of recycling in favor of reusing more existing materials,” commented Change Ventures’ Yrjö Ojasaa.

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.