BlueLayer, a European startup operating in stealth mode since late 2022, has secured $10 million in funding to support carbon project developers worldwide in bringing high-quality carbon credits to market. The funds were raised through seed and pre-seed investment rounds, with the seed round being led by Point Nine, a prominent European B2B software-focused VC firm. BlueLayer, with its head office in Berlin and teams in London and Athens, aims to help carbon project developers manage their carbon credits at scale. The company plans to use the funds to expand its platform features to address the emerging and complex needs of developers.
The pathway towards achieving Net Zero begins with companies with Science Based Targets and commitments. Therefore, addressing their value chain emissions through decarbonization efforts is crucial. This is where BlueLayer’s mission comes into play. The startup focuses on assisting developers involved in various carbon projects, such as reforestation, forest conservation, peatland restoration, direct air capture, and enhanced rock weathering. The platform aims to facilitate the connection between corporate leaders committed to Science Based Targets and project developers working on the ground to remove or avoid carbon emissions.
Experts predict that carbon markets need to scale significantly, reaching at least 20% of current global emissions or around 10 gigatons by 2050, representing a 40x increase from their current size. McKinsey & Company projected an increase in global demand for voluntary carbon credits of up to 100x compared to 2020 levels. BlueLayer seeks to contribute to this expansion by supporting developers in scaling carbon projects beyond value chain mitigation efforts. On the demand side, buyers are willing to pay a premium for high-quality carbon credits, supported by reliable data. A report by Ecosystem Marketplace in December last year shows a revealing trend within the voluntary carbon market. It highlighted that despite their higher price, demand concentrates toward high-integrity and high-quality carbon credits, which often offer other benefits that go beyond curbing carbon emissions.
To date, BlueLayer’s platform has managed over 177 million carbon tonnes. The startup, co-founded by Vivian Bertseka, who has a decade-long background as a climate investor, has secured $10 million to address the challenges faced by carbon project developers. Bertseka emphasized the important role of BlueLayer’s technology in raising the quality of the carbon credit market. He stated, “BlueLayer empowers project developers to centralize and display data from different sources into one single set of information, which facilitates following well-established methodologies and understanding the requirements of rating agencies and standards…We also enable them to report and communicate their impact with ease, accuracy, and detail.”
BlueLayer’s team includes Alexander Argyros and Gerardo Bonilla, who have experience in building global software businesses. They have identified the limitations project developers face in scaling high-quality projects due to inadequate resources and tools. The company is currently engaging with over 200 carbon project developers and ecosystem players. BlueLayer discovered that despite increased attention and billions of dollars of funding, developers still struggle with hefty manual processes and rely on outdated systems like spreadsheets. According to an industry report, project developers may lose $2.6 billion by 2030 due to verification delays, costing the voluntary carbon market 4.8 gigatons of carbon credits.
Recognizing these challenges, BlueLayer has developed an all-in-one platform tailored to support developers across the entire project lifecycle. This includes the pre-feasibility stage, credit issuance, inventory tracking, and order management. The platform caters to developers at all stages while offering essential tools for project development, data management, and stakeholder communication. BlueLayer’s enterprise-grade software aims to unlock growth, enhance transparency, and improve carbon project quality. Additionally, it provides immediate value to customers by optimizing revenues, reducing time to market, managing portfolio complexity, and improving data accessibility and auditability. The company works with ecosystem leaders and seamlessly integrates with various third parties, including data providers and registries.
BlueLayer’s $10 million funding has propelled the European startup into the spotlight. With a mission to enhance carbon credit market quality, BlueLayer aims to revolutionize project development and contribute to the significant scaling of carbon markets predicted by experts.