Kwota announced a pre-seed round of €1.5 million.

Kwota, a Talinn, Estonia-based startup building a carbon credits marketplace, announced a pre-seed funding round closed at €1.5 million ($1.7 million).

The money was raised from multiple investors from Estonia, including Change Ventures and Startup Wise Guys Ventures (both led the round), Lemonade Stand, Greenco Ventures, Vestman Energy, and angel investor Janis Krums.

Kwota, founded in 2021 by Rain Vääna, is working for the development of a digital platform that aims to offer digital validation and trading services for recycled material CO2 emissions. The product is yet to be launched publicly.