Oka raises $2.6 million

Carbon insurance startup Oka has secured $2.6 million in its latest seed round, bringing its total funding to $19.6 million across three rounds. The new capital follows a $10 million raise in March 2024 led by Aquiline Capital Partners, Firstminute Capital, and Overview, and a $7 million round in February 2023 backed by Aquiline Technology Growth and Firstminute Capital.

Founded to address the trust gap in global carbon markets, Oka offers insurance products that transfer risk off the balance sheets of carbon credit buyers, sellers, and developers. The company positions itself as a bridge between carbon and capital markets, aiming to make climate investments more bankable by offering coverage for credit quality, double-counting, and policy-related risks.

The startup is a team of 10 competing with CarbonPool and Kita.