Cemvision raises EUR10m in landmark climate tech seed round
In the largest known green cement seed round to date, Sweden-based Cemvision joins forces with its compatriot investors Polar Structure and BackingMinds, and SF-based Zacua Ventures. BackingMinds and Polar Structure have invested the largest share of EUR10m, with Zacua contributing an additional amount for Cemvision to further develop its alternative to traditional Portland cement, reducing CO2 by more than 95 per cent while retaining durability and performance.
Cemvision is produced using raw materials recycled from industrial waste and kilns powered by green electricity at much lower temperatures than traditional cement production. Cemvision’s cement builds early strength up to five times faster than Portland cement, allowing for increased productivity, claims the company.
“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.
