- Climate insurtech startup Artio has raised £550k to develop insurance solutions for early-stage carbon removal projects.
- The funding will support Artio's proprietary risk modelling platform aimed at providing risk mitigation for investors.
- There is a growing demand for high-quality carbon removal projects as organizations strive to meet net-zero targets.
- Early-stage projects often face challenges in securing investment due to delivery risks.
- Artio's insurance products are designed to help investors confidently support these projects from the outset.
- The aim is to accelerate market growth and increase the availability of high-integrity carbon credits needed for climate commitments by 2030.
- CEO Bilal Hussain highlighted the need for datasets tailored to early-stage risk modelling, which Artio is developing.
- The company plans to launch its first insurance offerings for carbon removal projects in early 2025.
- These products are being developed in collaboration with experienced insurance partners as part of Lloyd’s Lab.
- The funding round was led by Lifetime Ventures, which brings deep climate tech expertise, alongside SFC Capital, known for pre-seed investments.
- Koshu Kunii from Lifetime Ventures stated that risk transfers are essential to unlock capital for climate solutions and that Artio’s approach offers transparency in the carbon financial market.
- Artio's founders have extensive experience in the carbon and finance sectors, with Bilal Hussain having previously worked at Sylvera and Maya Climate, and COO Ibrahim Sarwar at Deloitte.
Artio Secures £550k to Revolutionise Early-Stage Carbon Insurance
5 Nov 2024
London, November 2024: Climate insurtech startup, Artio, has today announced it has raised £550k to pioneer insurance solutions for early-stage carbon removal projects through its proprietary risk modelling platform.
With organisations worldwide racing to achieve net-zero targets and address historical emissions, there's an urgent need to scale high-quality carbon removal projects. However, early-stage projects struggle to secure investment due to delivery risks.
Artio's insurance products enable investors to confidently back early-stage carbon removal projects by providing risk mitigation from day one. This increased security aims to accelerate market growth and boost the supply of high-integrity carbon credits, critical for helping corporations and governments meet their 2030 climate commitments.
Artio CEO, Bilal Hussain, commented
“I've directly seen carbon project investments fall through due to the risk of under-delivery. We need datasets built for early-stage risk modelling, and that’s what we are building to power our insurance products.”
The funding will accelerate Artio's product development and key hires. The company plans to launch its first insurance products for carbon removal projects in early 2025. This product is being developed with experienced insurance partners as part of Lloyd’s Lab.
The round was led by Lifetime Ventures, leveraging their deep climate tech expertise, alongside SFC Capital, one of the UK's most active pre-seed investors.
Koshu Kunii, General Partner at Lifetime Ventures, said
“We believe that solving climate challenges requires risk transfers to unlock massive capital flows towards climate solutions, and our investment in Artio aligns with our commitment to backing tech-driven solutions. Artio’s scalable approach to insuring carbon credits brings transparency and accountability to a vital carbon financial market, enabling a more effective path to decarbonization”
The founders of Artio bring together leading industry expertise and passion to the company's mission. Bilal Hussain, CEO, has extensive experience assessing carbon projects from his time at Sylvera and Maya Climate. Ibrahim Sarwar, COO, has a robust background in early-stage project finance modelling and risk management from his time at Deloitte.
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