44.01 Secures $5 Million Additional Series A Investment
Deal News | Feb 06, 2025 | Zawya
Omani climate tech startup 44.01 has raised an additional $5 million in its Series A funding round, bringing the total to $42 million. The latest investment comes from Nysn Climate Investments, Norway's sovereign climate fund, and MENA-focused VC fund Jasoor Ventures. The Series A round had initially been led by Equinor Ventures in July 2024 and included investors such as Shorooq Partners, Air Liquide Venture Capital, Alumni Ventures, Amazon's Climate Pledge Fund, and others. Existing backers like Breakthrough Energy Ventures also participated. This funding underscores growing international interest in 44.01's mineralisation technology, which offers a modular and cost-effective solution for carbon storage. The company plans to expand globally, with projects in the UAE and planned expansion in Norway, reflecting its commitment to promoting a sustainable approach to reducing greenhouse gas emissions.
Sectors
- Climate Technology
- Venture Capital
Geography
- Oman – The company's headquarters are in Oman and it plays a pivotal role in the article.
- Norway – Norwegian investors have significantly contributed to the recent funding, underlining Norway's interest in climate technology.
- United Arab Emirates – 44.01 has ongoing projects and partnerships in the UAE, marking it as a vital geographic region in the company's expansion strategy.
Industry
- Climate Technology – The article focuses on 44.01, a startup specialized in climate technology aimed at reducing greenhouse gas emissions through carbon mineralisation.
- Venture Capital – The investment update involves several VC and other types of investment firms, highlighting the article's relevance to the venture capital industry.
Financials
- $5 million – Additional investment in 44.01's Series A funding round.
- $42 million – Total raised in 44.01's Series A funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 44.01 | Target Company | Company | An Omani climate tech startup that focuses on carbon mineralisation technology. |
| Nysn Climate Investments | Investor | Company | Norwegian sovereign investor focused on climate tech investments. |
| Jasoor Ventures | Investor | Company | A MENA-focused venture capital fund that participated in the funding round. |
| Equinor Ventures | Lead Investor | Company | Led the Series A investment round initially. |
| Shorooq Partners | Investor | Company | A venture capital firm from the UAE involved in the investment round. |
| Air Liquide Venture Capital (ALIAD) | Investor | Company | Participated as an investor in the Series A round. |
| Alumni Ventures | Investor | Company | One of the participating investors in the Series A round. |
| Amazon's Climate Pledge Fund | Investor | Company | Amazon's investment initiative focused on technologies tackling climate change. |
| Breakthrough Energy Ventures | Investor | Company | Existing investor that also participated in the new funding. |