Ecolocked receives 1.8 million euros

This is the first round of financing for the young Berlin-based start-up. The money comes from British venture capitalist Counteract, among others.

Carbontech startup Ecolocked has raised €1.8 million in its first round of funding. The round is led by British venture capitalist Counteract, which specializes in carbon mining startups. Money is also coming from business angel club Better Ventures - Gwen Schröter (Golzern VC), Christoph Behn (Kartenmacherei), Anne, and Stefan Lemcke (Ankerkraut) invested through the network.

Ecolocked is working on the development and marketing of CO2-optimized formulations for concrete based on biochar. The startup plans to use the money to carry out initial pilot projects and accelerate the market launch of its first CO2-reduced formulations, scheduled for the first half of 2023. "A massive increase in CO2 capture through biochar production in the coming years is essential," says Mario Schmitt, CEO of Ecolocked. Without it, the goal of limiting global warming to 1.5-degrees could no longer be met. Together with CTO Micheil Gordon and CCO Stefanie Gerhart, Schmitt founded the startup in September 2021.

"Concrete is responsible for nearly eight percent of all emissions. That's why we're excited to support Ecolocked," said Tina Dreimann, co-founder and managing director of Better Ventures. "Their solution will not only revolutionize the construction industry, but can play an important role in achieving our climate goals."