Cham-based startup ARTEM has raised €1.5 million in seed funding to develop its complete software program and {hardware} platform to assist EU firms and non-EU producers guarantee CBAM compliance and allow the transition to net-zero manufacturing.
The funding spherical was led by Vireo Ventures, a Berlin-based Article 9 SFDR enterprise capital agency, with a give attention to driving the power transition and decarbonisation.
Nanxi Ding, Founder & CEO of ARTEM, mentioned, “There was important growth and progress in nationwide and supranational carbon compliance and pricing mechanisms similar to CBAM. At present, USD 45 billion price of products are impacted by CBAM, with this determine anticipated to rise to USD 90 billion by 2030. The problem for firms lies find a compliance answer that addresses the particular wants of every business and helps them overcome cultural, jurisdictional, and informational obstacles within the means of reporting. As carbon pricing and emissions buying and selling increase globally, authorities and markets will demand extra dependable emission knowledge.”
Based in 2024 by Nanxi Ding, Leo Rees-Murphy, and Ofir Weinstock, ARTEM provides a mixture of software program and {hardware} instruments to assist EU importers and non-EU producers accumulate, confirm, and report greenhouse fuel (GHG) emissions knowledge. Nanxi Ding was impressed to discovered ARTEM after navigating the complexities of CBAM whereas managing her household’s automotive manufacturing enterprise.
Recognising the challenges and alternatives of compliance, she and her co-founders constructed ARTEM to assist firms adapt to a regulatory panorama more and more prioritising decarbonisation and clear emissions reporting.
The corporate’s expertise streamlines compliance for sectors like cement, metal, aluminium, fertilisers, electrical energy, and hydrogen, that are amongst these most impacted by CBAM rules set to totally take impact in 2026.
ARTEM’s platform contains Continued Emission Measuring Programs to offer correct real-time emissions knowledge assortment, together with software program to foretell the monetary impression of carbon pricing on items. The system facilitates compliance reporting for importers, improves provide chain transparency, and promotes GHG reductions on the manufacturing stage.
“ARTEM assists firms accumulate, confirm and report actual emission knowledge from suppliers worldwide utilizing compliance software program with an built-in {hardware} measurement gadget, enabling end-to-end GHG tracing throughout cross-border provide chains. The synergies between totally different nationwide carbon markets are anticipated to create unprecedented and cataclysmic progress within the decarbonization market. We’re privileged to have the assist of Vireo Ventures, an Article 9 SFDR Fund with a wealth of business experience and a powerful dedication to the power transition,” added Ding.
The EU’s CBAM, the world’s first border adjustment mechanism for carbon pricing, mandates importers of high-emission items to trace emissions and buy CBAM certificates. ARTEM’s proposed answer addresses the complexities of compliance whereas decreasing dangers of expensive penalties for non-compliance.
The platform is poised to serve a rising market, with world emissions monitoring valued at USD 16.98 billion in 2024 and projected to succeed in USD 61.43 billion by 2029, in accordance with ARTEM.
“CBAM compliance is significant for reaching a climate-resilient, decarbonized future. ARTEM stands out as one of many first automated platforms focusing solely on CBAM compliance infrastructure. The workforce’s progress, deep business insights, in addition to producer and freight forwarder community put them in a powerful place to ascertain a number one market participant early on,” mentioned Matthias Engel, Managing Accomplice at Vireo Ventures.
