Airmo, a German start-up specialising in air quality and greenhouse gas emissions monitoring from space, has secured €5.2 mln in a pre-seed funding round involving a diverse group of VCs, angel investors and the European Space Agency.
The funding will enable Airmo to launch the first of 12 satellites into orbit to revolutionise monitoring of potent greenhouse gases (GHG) like carbon dioxide and methane which cause climate change.
According to the firm, achieving the goal set under the Paris Agreement of limiting global warming to well below 2 – and preferably 1.5 - degrees Celsius requires precise and reliable data on GHG emissions. ‘This is the context in which Airmo has arisen, a solution designed to address the dire need for transparency and accuracy in monitoring these emissions,’ it said.
Due to its structure, methane traps more heat in the atmosphere per molecule than carbon dioxide (CO2), making it 80 times more harmful than CO2 for 20 years after it is released. This makes large methane leaks that go undetected for weeks or even months particularly harmful for the climate.
Faisal Butt, founder and managing partner at Pi Labs, which participated in the latest funding round, commented: ‘There is a clear affinity between our focus on liveable cities and Airmo’s mission to become the global solution for precise climate risk data for cities.
‘From the get-go, we’ve been impressed by the team’s cutting-edge technology and proprietary micro-LiDAR sensors – empowering decision makers with the most precise data on climate impact and greenhouse gas emissions, which is vital for the transition towards a low carbon future. We’re proud to partner with this incredibly talented and ambitious team with their vision to accelerate the decarbonisation of our built world.”
Airmo was founded by Daria Stepanova, Pavels Razmajevs, Dr. Errico Armandillo, and Harriet von Kügelgen. With decades of combined experience at some of the world's leading space organizations, such as the European Space Agency, and expertise in ESG and carbon management, the co-founders say they are ‘well-equipped to disrupt the industry’, driving ‘more effective climate solutions and contributing to a more sustainable future’.
‘Since the last founding round, we have made significant strides in our mission. We are proud to be an official partner of the Aiming for Net Zero initiative of the OGCI (Oil and Gas Climate Initiative), a testament to our commitment and progress in the fight against climate change’, said Stepanova.
Read also our interview with Pi Labs CEO Faisal Butt on the VC's 2023 Growth Programme
