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Carbon Credit Insurtech Kita Grabs $4m

Things To Know About Kita

Kita is basically an insurance based company founded in 2021 and headquartered in London. The company holds specialty in carbon insurance. Kita has a vision to be a carbon insurer in climate crisis. The firm focuses on excluding carbon exposure from the environment. 

As per the reports from UK Tech News, the following funding round was led by Octopus Ventures, with an active participation of Chaucer Group, Hartree Partners, and existing investors Insurtech Gateway, Carbon13, and Climate VC as well.

About Kita’s First Carbon Product 

Kita’s first product, Carbon Purchase Protection Cover, insures the buyer of forward purchased carbon credits with an assurance of minimal delivery risk, removing a significant protection gap. It promises to protect against the risk which afforestation project doesn’t generate verified high-quality carbon credits.

Which results in extreme loss such as the forestry project developer making an error in the planting phase. This, The funding will go towards the contribution of launching of the company’s first product, the Carbon Purchase Protection Cover.

What Are The Views Of Leading Members Of The Firm On This Natalia Dorfman, co-founder and CEO of Kita, said, “To prevent the worst impacts of climate change, we must remove gigatons of CO2 from the atmosphere annually for the remainder of the 21st century. This is a mammoth task, and it requires de-risking and access to capital for carbon removal solutions. Insurance can act as a fundamental enabler – by removing risk and increasing trust in the market, insurance will help drive capital to help quality carbon removal projects scale.”

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