German climate tech startup CEEZER raises €4.2M to help businesses reduce carbon footprint

Berlin-based CEEZER, a digital-first carbon bank that provides guidance to companies on the complex voluntary carbon market, announced that it has raised €4.2M in a fresh round of funding.

The round was led by Carbon Removal Partners with participation from Norrsken VC and existing investor Picus Capital.

Tove Larsson, General Partner at Norrsken VC, says, “We are very impressed with the CEEZER team and their approach to the voluntary carbon credits market. With a strong focus on the supply side of this equation, they have built a platform that helps project owners manage and scale their carbon-reducing solutions, thereby addressing one of the key bottlenecks in this industry.”

Capital utilisation

CEEZER claims it will use the proceeds to grow its impact and sourcing team, which will concentrate on making removal technologies more affordable for corporate purchasers. The team will be managed by Dr Carla Woydt, a former associate director of the Carbon Disclosure Project. 

Additionally, the company will keep expanding the range of products available to help credit suppliers and buyers reach long-term offtake agreements and better prepare for a future with supply constraints.

Magnus Drewelies, founder and CEO of CEEZER, says, “We are incredibly excited to partner with two of the most exciting investors in the climate space, alongside our existing investor Picus. We think this is a perfect set-up to further strengthen our ties in the still emerging climate tech ecosystem.”

A digital-first carbon bank

When it comes to the removal and reduction of external carbon, businesses now confront a wide range of difficulties and uncertainties. The majority of businesses must acquire negative emissions in order to satisfy compliance and scientific goals. But choosing and purchasing the appropriate credits can be challenging.

Many businesses find it difficult to balance impact, budget, and risk because of the competing regulations, sometimes incorrect information on credit quality, and forcing consumers to pay high rates for subpar credits (price ranges between $5 and $500 per tonne). This is where CEEZER wants to make a difference.

Founded in 2021 by Magnus Drewelies, CEEZER is a digital platform that provides corporations with access to and support for the complex voluntary carbon market. Organisations use CEEZER to partner with high-quality carbon projects guided by data to fuel their net-zero ambition with maximum impact.

The company claims to make it simple to plan, purchase, and monitor complex compensation portfolios. To do so, it partners directly with project owners who aim to mitigate climate change by providing the “best way” to promote projects to buyers, facilitate transactions and manage credit inventories.

With its direct trade infrastructure, CEEZER enables sellers to sell both current credits and credits from projects that are still in the planning stages by connecting them directly with the relevant purchasers. 

With this approach, sellers no longer waste time and money on bespoke contracts with corporates but can rely on a harmonised legal framework for all transactions. At the same time, buyers also have access to a wide range of credits under primary market conditions, which ensures a better impact for every dollar spent in the carbon market.

Currently, CEEZER serves over 50 corporate customers ranging from DAX30 to startups and scale-ups in Europe and the US. It works with leading project developers, including the world’s largest developer South Pole and leaders in carbon removal such as X-Prize winner CarbonBuilt.