Kita Earth Limited, an appointed Gateway Platform Services Limited representative for Insurance Distribution activities, announces $4,797,000 in their seed funding round funded by. Octopus Ventures, with participation from Insurtech Gateway and Carbon13.

Founded in 2021 by Paul Young, Thomas Merriman and Natalia Dorfman as part of the Carbon13 climate tech venture builder in Cambridge, Kita's vision is to be the carbon insurer for the climate crisis by sponsoring projects that mitigate against the impacts of climate change with a focus on forest protection and reforestation.

Through this investment, Kita will expand its team, scale its technology-based risk modelling, and launch their first insurance product, Carbon Purchase Protection Cover. As a result of the investment, Kita will also be able to build a broader portfolio of carbon insurance products to cover all carbon market risks.

"To prevent the worst impacts of climate change, we must remove gigatons of CO2 from the atmosphere annually for the remainder of the 21st century. This is a mammoth task, requiring de-risking and access to capital for carbon removal solutions. Insurance can act as a fundamental enabler - by removing risk and increasing trust in the market; insurance will help drive capital to help quality carbon removal projects scale.  Kita’s passion is developing these insurance products, and we are delighted to be bringing our first product, Carbon Purchase Protection Cover, to market.” Natalia Dorfman, CEO and Co-Founder, Kita