SQUAKE closes €3.5m Seed round
by Startacus Admin
SQUAKE closes €3.5m Seed round to enable travel and logistics players to make more sustainable choices – completing €5m of total funding
SQUAKE – the climate tech startup powering accurate carbon calculations and providing tangible compensation for travel and logistics emissions – has announced it has raised €3.5 million in funding led by Simon Capital, with participation from Schenker Ventures and Rivus Capital.
Existing investors Neosfer and Backbone Ventures also participated in the round, along with business angels Michael Riegel and Matthäus Niewodniczanski -- all joining Lufthansa Group on the cap table. The new capital – which takes SQUAKE’s total funding to date to €5 million – will be used for technology R&D and operational hires to meet customer demand, fuelling growth in strategic markets.
Founded in 2020 by Philipp von Lamezan (CEO) and Dan Kreibich (CPO), Berlin-based SQUAKE born from the Lufthansa Innovation Hub, is operating
independently since 2021. Through one single API, SQUAKE blends seamlessly into the backend of any digital infrastructure to make precise carbon calculations for all types of travel and logistics activities – such as flights, shipping, car rentals, and hotels – based on national and international standards. In the process, SQUAKE bridges the tremendous gap in emission awareness across these industries, triggering information-based decision-making by shining a spotlight on more sustainable choices.
Even with more choice, carbon emissions remain rife, which is why compensations are needed. SQUAKE focuses mainly on carbon removal through its portfolio. By connecting customers with principled and established partners globally – including sustainable aviation fuels, direct carbon capture, and reforestation providers – SQUAKE automates the carbon reduction and removal process. Through this rigorously qualified network of partners, SQUAKE makes meaningful climate action accessible to everyone.
End users, such as travellers and logistics buyers, now have a reliable way to be pragmatic with their emissions without any friction, thanks to SQUAKE’s technology underpinning the digital infrastructure they already use. This ranges from booking tools and travel agencies to freight ordering platforms. Beyond this, working with external auditors optimises the platform’s data security, building awareness and trust.
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Published on: 22nd June 2023
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