Opna has secured $6.5 million (£5.2m) in seed funding, led by VC firm Atomico. The round saw participation from previous investors like Pale Blue Dot, MCJ Collective, Angelinvest, and Tiny VC.
Opna’s mission is to restore trust in voluntary carbon markets, which enable carbon emitters to purchase carbon credits generated from initiatives that reduce greenhouse gas emissions. Opna offers a unique platform for corporates to discover, finance, and manage these climate initiatives.
With this funding, Opna plans to increase platform awareness, expand the selection of carbon projects, enhance their technology, and recruit new talent.
Opna’s founder, Shilpika Gautam, emphasised the increasing trend of corporates directly financing carbon projects to meet their net zero commitments. However, businesses often find it challenging to mobilise capital due to factors like lacking expertise, steep transaction costs, and outdated infrastructure. The firm noted that currently, only 7% of companies are on track to meet their net zero pledges. Opna aspires to be the bridge connecting corporates to carbon projects, addressing these challenges.
Opna founder Shilpika Gautam remarked, “To achieve their net zero commitments, an increasing number of corporates are seizing control by directly financing the carbon projects underlying the carbon credits.”
Gautam further added, “However, these businesses are having a hard time mobilising their capital due to a lack of in-house expertise, high transaction costs, analogue infrastructure, and time-consuming processes.”