Ukrainian startup Carbominer raises funding from SMRK

A Ukrainian project, Carbominer, has raised a seed investment from a Ukrainian SMRK VC Fund. The company does not disclose its valuation and the amount of funding raised. The news reported to AIN.UA by representatives of the fund.

About the project

Carbominer is a hardware startup, which develops technology to produce carbon dioxide (CO2) from open air. The startup plans to sell the resulting CO2 to greenhouse operators that use carbon dioxide to accelerate the growth of plants, and other companies as well.

The founders of the startup are Mykola Oseiko and his daughter Viktoria. Mykola has over 25 years of experience in the finance and HR field, and Viktoria has 3 years of experience in digital marketing.

Last year, the startup won the national final of ClimateLaunchpad and then entered the world’s top 16 projects of this contest in Amsterdam.

Where will the investment go?

As Carbominer told AIN.UA, the startup is going to use the raised funds to create industrial modular units for CO2 capture using its technology, as well as to expand the team. Currently, the company recruits production workers.

Carbominer plans to produce the first units of equipment and place them for testing in greenhouses by the end of 2020.

The company is also looking for partners to enter Western markets. First of all, the company is interested in Spain, Holland, Turkey, and other countries with a developed greenhouse industry.

SMRK comment

“We got to know the startup and were very inspired by its technology to capture CO2 directly from the open air using modular units. Carbon Capture is one of the most promising ways to reduce CO2 levels, and we believe that Carbominer can innovatively solve this problem. Understanding the importance of the problem to be solved, the market prospects, and considering the first results of the team – we decided to support the project with financing,” commented in the company.