TLDR:
- Oka, a carbon insurance company based in Park City, UT, raised $10M in funding led by Aquiline Capital Partners and firstminute capital, and Overview Capital.
- The company aims to use the funds to support its risk-based capital requirements and operational growth.
In a recent development, Oka, a Park City-based carbon insurance company, secured $10 million in funding in a round led by Aquiline Capital Partners, firstminute capital, and Overview Capital. The company, led by CEO Chris Slater, specializes in de-risking the voluntary carbon market for buyers and sellers of carbon credits by providing a carbon insurance solution. This solution offers financial protection to buyers in case of unforeseen post-issuance risks such as reversal and invalidation.
Chris Slater expressed his satisfaction with the investment, noting that in a challenging market for venture funding and the voluntary carbon market, Oka is grateful for the support from its investors and capital partners as they work towards insuring every carbon credit to unlock significant market scale. The capital infusion will be crucial in meeting the company’s risk-based capital requirements and driving operational growth.
This funding round signifies a vote of confidence in Oka’s business model and vision to transform the carbon credit industry through innovative insurance solutions. With early customer traction and strong investor backing, the company is well-positioned to achieve its ambitious goals and further establish itself as a key player in the carbon insurance market.
