Berlin-based climate tech startup Ucaneo, which develops lung-inspired tech to capture CO2 from the air, has secured €6.75 million in a seed funding round and grants to build one of Germany's largest DAC testing and development facilities. The investment was co-led by Smart Energy Innovationsfonds (SEIF) of Energie 360° and IBB Ventures.
- Founded in 2022 by Carla Glassl and Florian Tiller, Ucaneo develops a biomimetic direct air capture technology inspired by the human lung to remove carbon dioxide from the atmosphere at scale.
- The technology operates at room temperature, capturing 500-1000 tons of CO2 per unit, and can be easily deployed and scaled in a plug-and-play manner, allowing flexible, customizable capacities near CO2 utilization, storage, and energy sources.
"To scale carbon removal, we need accelerated hardware development! Ucaneo's technology is designed for rapid iterations, our own so called interchangeable modular product architecture. To reach cost-effectiveness already at a smaller scale, we are leveraging proven components, established supply chains and a modular design suitable for global deployment," Co-founder and CTO of Ucaneo, Carla Glassl, commented.
Details of the deal
- The fresh seed round was co-lead by Smart Energy Innovations fonds (SEIF) by Energie 360° and IBB Ventures, a Berlin-based venture capital firm with a portfolio of around 105 startups, over 300 investments, and 126 exits.
"Ucaneo’s tech is a game-changer—affordable, energy-efficient DAC solutions that turn CO2 into useful products. They've developed a game changing technology and functional lab-scale prototype in 2 years, showing real talent and ambition," Senior Investment Manager at IBB Ventures, Marvin Martsch, stated.
- The round also saw participation from new and existing investors Plug and Play Sustainability Fund, The Grantham Foundation for the Protection of the Environment Environmental Trust, Carbon Removal Partners, Nucleus Capital, Apprecia Capital, and notable angels including Jochen Engert and Pjotr van Schothorst.
- The capital raised will allow Ucaneo to build Germany's largest DAC testing and development facilities, while advancing their first industrial product. This supports the company's mission to remove 0.5 GT of CO2 from the atmosphere by 2035, equivalent to the weight of all humans on Earth or about 1% of global annual CO2 emissions.
