Senken Secured Investment from Inflection
Senken secured investment from Inflection and other VC,s amounting to $7.5 million US Dollars. The round was led by Obvious Ventures with significant participation from Offline Ventures, Inflection, and Kraken Ventures, along with other existing investors including Climate Capital. This investment strengthens Senken for the foreseeable future to continue to make climate finance more transparent and accessible.
Since the foundation of Senken in 2021, the platform has worked tirelessly to create a marketplace. Allows companies and investors to easily purchase, trade, and offset carbon credits. The platform now offers the widest selection of climate assets (+20 million carbon credits) and ensures the quality and integrity of the projects by adding data layers containing project information (such as vintage, credit type, and additionality), carbon ratings, pricing, and MRV data.
The challenges of the carbon markets
Currently, the carbon markets are fragmented and opaque. Impact leaders looking to fight climate change have limited access to climate projects and risk greenwashing accusations. Combine this with the absence of price discovery, corporations have unknowingly paid exorbitant prices in search of quality; sometimes as much as an increase of 20 to 400%! This means that the opaqueness of the OTC market reduces the ability to scale the market.
At Senken, they believe they can have the biggest impact as a company on fighting climate change. They are creating transparent carbon markets. By providing orientation and clarity Senken aim to enable sustainability leaders to make the right decisions to reach their net zero ambitions.
“In order to power a future global economy that is more efficient and carbon-free. We need new frameworks and solutions to help finance the massive changes requires. Adrian and the team have created a powerful new model for carbon investment in a short period of time and we are proud to lead this investment round.” — Andrew Beebe, managing director, Obvious Ventures
“senken is uniquely positioned to establish global carbon markets at minimize cost and with the highest transparency standards. The firm leverages crypto technologies allowing market participants to verify a project’s quality and any carbon asset’s chain of ownership. Through Defi legos, senken unlocks a universe of carbon products like forward futures or insurance contracts which is composes and interacted with programmatically while sharing a public source of truth. At Inflection, we couldn’t be more excited about the symbiosis of climate and crypto technologies.” — Alexander Lange, managing director of Inflection.
Senken is an easy-to-use platform to access the largest selection of climate assets for transparent climate action and finance.