Photo: Kwota founders Rain Vääna and Argo Rannamets
Our member Change Ventures leads the €1.5M pre-seed investment round to KWOTA with Startup Wise Guys Ventures, Lemonade Stand, Greenco Ventures, Vestman Energy, and angel investor Jānis Krūms participating.
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.“We have a clear vision of how to achieve 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.
“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’ partner Yrjö Ojasaar