PARK CITY, UTAH, Feb 23, 2023 – Oka, The Carbon Insurance Company™, has announced its seed round, attracting over $7M in funding. The round was led by Aquiline Technology Growth, a prominent investor in early and growth-stage companies that are bringing innovation to financial services, who will help fuel Oka’s vision to ensure all carbon credits are insured.
The voluntary carbon market (VCM) is experiencing significant growth and is projected to reach $1 trillion by 2037, highlighting the scale of the opportunity. Oka, The Carbon Insurance Company, is currently focused on providing insurance that will replace credits if destroyed or invalid, providing security and confidence to the VCM market. The investment will be used to scale Oka’s innovative carbon credit insurance offerings, addressing the risks that large U.S. corporations face when buying carbon credits to offset their emissions and meet net-zero targets.
“We are honored to have the support of Aquiline in accelerating the growth of our company and achieving our vision for making insurance an integral part of the voluntary carbon credit market,” said Chris Slater, Founder and CEO of Oka, The Carbon Insurance Company. “With their help, we are confident that we will accelerate the growth of our company and achieve our mission of insuring the transition to net-zero.”
“Chris and the team at Oka have a compelling vision for maturing the carbon credit market through its insurance offerings,” said Max Chee, Partner and Head of Aquiline Technology Growth. “We are excited about our partnership and look forward to seeing the lasting impact Oka will have on the voluntary carbon market.”
The funding round also included Firstminute, a founder-led fund focused on climate tech.
About Oka, The Carbon Insurance Company™
Oka, The Carbon Insurance Company, is a leading provider of insurance solutions for companies and organizations engaging in the carbon credit market. Oka, The Carbon Insurance Company, provides insurance that will replace credits if destroyed or invalid – we aim to deliver security, confidence, and protection in an unregulated and opaque market. Our dedicated team of experts is helping our clients navigate the complex and ever-changing landscape of the carbon credit market while ensuring they can achieve their sustainability goals. We insure the transition to net-zero.