OCELL secures $5 million in seed funding to accelerate climate-friendly forest management and develop high-value carbon credits
Munich, 11th May 2023 - Munich-based startup OCELL announces a $5 million seed funding round to further develop its 'Dynamic Forest' software for sustainable forestry and to launch high-quality carbon credits.
The seed round was led by impact venture capital AENU, which previously backed climate tech startup Zolar, and Summiteer, an investor in Germany's first green unicorn Enpal. Additional capital comes from business angels Maximilian Thaler, Max Viessmann and the BOSCOR Group, Germany's leading service provider for sustainable agriculture and forestry. OCELL's previous business angels also participated in the financing round.
OCELL's software digitizes all processes involved in professional forestry operations, and is the first provider that enables forest managers to optimize both timber production and carbon storage in forests.
The newly acquired capital will enable the team, led by co-CEOs David Dohmen and Christian Decher, to expand and further develop the existing cloud-based software. OCELL will also invest significantly in a new product, using collected data to develop high-quality carbon credits. These will differ from existing credits particularly in terms of greater transparency and precision, as well as their immediate impact. The first projects based on this new methodology are currently being established in close collaboration with forest managers, auditors and other stakeholders.
David Dohmen, Co-Founder and Co-CEO of OCELL: "I am very pleased with the trust placed in us, especially in these difficult times. With AENU and Summiteer, we have experienced partners on board who share our vision of a more climate-friendly forest industry."
Ferry Heilemann, founder and partner of AENU: “We are big fans of the OCELL team. Their holistic forest management software and state-of-the-art primary data collection enables commercial forest owners globally to unlock high-quality carbon credits. Thus increasing their profitability while storing more carbon on their land.”
Sven Schulz, founder of Summiteer and former Akasol CEO: “We are very impressed by the quality of the OCELL team and how fast they gained momentum in rolling out its proprietary management software to some of the largest forestry companies in Europe. We are much looking forward to our joint journey to digitalize the forest industry and to facilitate local, high-quality forestry-related carbon credits”.
Press contact:
OCELL GmbH
Kathrin Kirchler
Senior Brand & Comms Manager
Tel.: +4915150642997
E-Mail: kathrin.kirchler@ocell.io
About OCELL:
OCELL is a leading provider of forestry software that enables better and more efficient forest management, thus contributing to a better climate. For this purpose, aerial photographs are processed with other data sources and artificial intelligence to create digital twins of the forest, which provide information about, among other things, forest growth and current carbon storage capacity, as well as being able to predict optimal forest management. This allows the forest to fully realize its potential as a sustainable resource as well as a highly efficient carbon storage. OCELL has more than 170,000 hectares of sustainable forest land under contract from customers in Europe and North America.
About AENU:
AENU is an evergreen impact fund that invests in early-stage climate-tech and social impact companies based in Europe. AENU drives systemic transformation in venture capital towards impact, accessibility and stakeholder-alignment.
About Summiteer:
Summiteer is an investment company founded by serial entrepreneur and former Akasol CEO Sven Schulz, which invests in startups and growth companies with scalable, sustainable and innovative business models. Summiteer sets its sights on creating sustainable value with the companies in their portfolio, thereby supporting the prosperity of our company while also playing an active role in creating an environmentally friendly future.