SQUAKE, a Berlin-based climate tech startup, has raised €3.5 mln in funding led by Simon Capital, along with Schenker Ventures and Rivus Capital.
Simon Capital is an early-stage venture capital fund based in Germany, while Rivus Capital is a Munich- and Berlin-based investor that backs established companies and start-ups.
Existing investors, Neosfer and Backbone Ventures, also participated in the round, along with business angels Michael Riegel and Matthäus Niewodniczanski – all joining Lufthansa Group on the cap table.
The new capital, which takes Squake’s total funding to date to €5 mln, will be used for technology research and development, and operational hires to meet customer demand, fuelling growth in strategic markets.
Its product is designed to power accurate carbon calculations and provide tangible compensation for travel and logistics emissions. It can be used for flights, shipping, car rentals, and hotels, among other things.
It was started in 2020 by Philipp von Lamezan as CEO and Dan Kreibich, operating from Lufthansa’s Innovation Hub.
