Senken
AI-powered marketplace for vetted, high-integrity carbon credits.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | N/A | - | |
| Total Funding | 000k | ||
Senken operates a climate finance platform focused on the voluntary carbon market, providing businesses with access to high-quality carbon credits. Founded in 2021 by Adrian Wons and Djamel Mekibes, the Berlin-based company aims to address the opaqueness and fragmentation of the traditional carbon market by leveraging technology for transparency and efficiency. Senken has offices in Berlin and Cape Town.
The company's platform serves as a marketplace where businesses can plan and execute their carbon offsetting strategies. It guides clients through determining the volume and type of carbon credits to purchase based on their sustainability goals, creating customized portfolios, and managing reporting. Senken utilizes an AI-powered quality framework that analyzes over 600 data points for each climate project, ensuring that only the top-tier projects (approximately the top 3-5%) are offered on the platform. The platform provides access to a wide range of credits from nature-based solutions like forest protection and regenerative agriculture, to technology-based solutions such as biochar and enhanced weathering.
Senken's business model targets companies aiming to offset significant carbon footprints, typically over 5,000 tonnes of CO2. By using blockchain technology, the platform offers enhanced data security, traceability, and transparency for all transactions. This on-chain infrastructure allows for clear project information, ratings, and pricing, simplifying the process of comparing, investing in, and retiring credits. The company also introduced a financial instrument called Carbon Forwards, allowing for the pre-funding of climate projects that are still in development at a reduced price, enabling organizations to hedge against future carbon price exposure. In January 2023, Senken raised $7.5 million in a Series A funding round led by Obvious Ventures to expand its marketplace.
Keywords: carbon credits, climate finance, voluntary carbon market, decarbonization, offsetting strategies, on-chain marketplace, AI quality framework, regenerative finance, climate tech, emissions offsetting, nature-based solutions, technology-based solutions, corporate sustainability, net-zero, carbon reporting, blockchain, impact investing, greenwashing prevention, carbon removal, climate projects