Skip to main content

Cemvision raises €10M in landmark climate tech seed round

By Eric Van Rees - 25th March 2024 - 07:59

In the largest known green cement seed round to date, Swedish Cemvision joins forces with its compatriot investors Polar Structure and BackingMinds, and SF-based Zacua Ventures.

The news comes soon after Cemvision announced its first official customer contract and is part of a plan to accelerate the company’s short-term momentum. The cement industry accounts for 8% of global CO2 emissions and is an estimated $400B market globally.

“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,” says Oscar Hållén, CEO of Cemvision. BackingMinds and Polar Structure invest the lion’s share of the €10M, with Zacua contributing an additional amount.

BackingMinds is a VC investing in the blind spots of venture capital. The firm has made more than 20 investments in Europe including innovative technologies and circular business models solving the big global challenges.

”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,” says Susanne Najafi, founding partner of BackingMinds VC.

Read More: Meteorology/Climate Change Business Services

Subscribe to our newsletter

Stay updated on the latest technology, innovation product arrivals and exciting offers to your inbox.