Sweden-based climate tech company Cemvision raised EUR 10 million in funding. The round took place on March 22, 2024. The seed round is the largest known green cement seed round so far. Investors such as Polar Structure and BackingMinds and SF-based Zacua Ventures joined the company’s financing team.
Purpose of the financing for the company
With the latest financing, the company seeks to expand its operations & business reach.
What the company’s official has to add
Oscar Hållén, CEO of Cemvision, said, “This investment will accelerate our near-future operations right before we make the next jump, which is not too far away. Having met and retained interest from VCs worldwide, we concluded some of the very best ones were right around the corner, and we are delighted to have them doubling down on Cemvision. Furthermore, Zacua’s global understanding of the green transition of the built environment is the most impressive we’ve ever come across.”
What the investors have to comment
Susanne Najafi, founding partner of BackingMinds VC, further added, “Cemvision is addressing a $400 billion market, precisely meeting the increased environmental and regulatory needs of the industry. With the overwhelmingly positive market response, we’re thrilled to keep backing the Cemvision team as they pioneer global sustainable construction.”
In addition, Tobias Emanuelsson from Polar Structure said, “We are constantly in search of innovations that can help us develop and scale the essential solutions required to achieve net zero emissions. Cemvision’s technology to produce fossil-free cement, backed by their exceptional team, exemplifies our commitment to such innovations.”
Juan Nieto, General Partner, at Zacua Ventures, added, “Cemvision’s potential is nothing short of extraordinary – it’s poised to lead the net-zero cement game. With a top-notch team bringing serious industry chops and a fresh take on decarbonisation of cement, they’re primed to shake things up big time. We are beyond excited to take this journey together with the team and our esteemed co-investors.”
About the company
The products from Cemvision provide a substitute for conventional Portland cement, lowering CO2 emissions by over 95% without compromising strength and functionality. It is made in significantly lower temperatures in kilns driven by green electricity and recycled industrial waste as basic materials. Productivity can be enhanced since Cemvision’s cement develops early strength up to five times quicker than Portland’s. Three seasoned executives from established global cement companies created the business.
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