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Thursday, April 18, 2024

Zurbarán Abogados guides Conexo Ventures’ investment in ClimateTrade

Zurbarán Abogados has advised Conexo Ventures on its investment in ClimateTrade, the climate marketplace using blockchain technology, that has raised €7 million in a Pre-Series A round, and plans to complete this with an additional €13 million in a US round

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This new capital inflow will be used to grow the startup’s operations in Europe, Asia, and the US, with new offices in four countries, to expand its technology offering and to hire new talent.

The first phase of the round closed oversubscribed, having attracted interest from more than 90 investment funds. The €7 million raised in the European phase was provided by Spanish company GED through its Conexo Ventures fund, US energy, and technology fund ClearSky, blockchain investors Borderless Capital and Algorand, SIX FinTech Ventures, the venture capital arm of Swiss financial infrastructure provider SIX Group, Spain’s Telefónica through its open innovation hub Wayra, the investment arm of Japanese corporation Omron Ventures, climate investment fund Amasia, as well as Valencian impact fund Zubi Capital, created by the founder of payment technology unicorn Flywire, Iker Macaide.

The startup founded by Francisco Benedito is a marketplace born in Spain, which supports global brands in their decarbonisation goals, facilitating the financing of carbon offsetting and climate regeneration projects around the world.

Zurbarán Abogados advised Conexo Ventures on this deal with a team led by partner Ricardo Torres, alonside lawyer Ana Barroso.

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