StageSeed VC | Alive
Last Raised$4.83M | 4 mos ago
Kita develops parametric insurance products to remove carbon delivery risk from buyers. The company offers carbon removal insurance to reduce transactions in the voluntary carbon markets. It was founded in 2021 and is based in Worcestershire, United Kingdom.
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Kita's Products & Differentiators
Carbon Purchase Protection Cover
Protects buyers of forward purchased carbon credits against delivery risk
Expert Collections containing Kita
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Kita is included in 2 Expert Collections, including Insurtech.
Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience
Companies developing tech to decarbonize operations.
Latest Kita News
May 31, 2023
PUBLISHED :May 30, 2023 - 15:49 UPDATED :May 30, 2023 - 17:08 Containers are lined up for overseas shipment at the port of Busan on May 1. (Yonhap) South Korea's semiconductor industry, which has been experiencing repeated downturns since August last year, is expected to revive in the latter half of the year, a Korean trade lobby group said on Tuesday. “I anticipate that our semiconductor industry will recover, reaching the level of the second quarter of last year by the fourth quarter. I expect that production cutbacks will be reversed and the overall economy will improve, particularly with the reopening of China playing a significant role in this positive trend,” Korea International Trade Association Vice Chairman Jeong Marn-ki said during a press conference held in Samseong-dong, Seoul. KITA's positive outlook about the semiconductor industry in the second half of 2023 aligns with the Bank of Korea's expectations, as stated in a report by the latter released on Monday, which anticipated China's reopening gradually leading to the recovery of the Korean chip industry. Korea reached over $10 billion in monthly semiconductor exports for 17 consecutive months, from May 2021 to September 2022. However, starting from August 2022, semiconductor exports have been suffering from a prolonged downturn. According to KITA, semiconductor exports have continued to decline significantly for five consecutive months this year, with on-year decreases of 44.5 percent in January, 42.5 percent in February, 34.5 percent in March, 41.0 percent in April and 35.5 percent from May 1 to 20. In terms of semiconductor product categories, memory chips experienced a larger decline compared to non-memory chips. In terms of regions, the decline in semiconductor exports was significant in major export destinations such as China, Vietnam and the US. Also, the ongoing decline in semiconductor exports has caused the proportion of semiconductors in Korea's total exports to drop to 13.4 percent for January to April period. This is the first time since 2016 that the semiconductor share in South Korea's overall exports has dropped below 15 percent. Regarding this figure, Jeong emphasized that the country has long been excessively dependent on semiconductors, so the current proportion that chips account for in the total exports seems to be "normal." Jeong also acknowledged the sluggishness in Korea's overall exports thus far during the press conference. Korea's total exports from Jan 1 to May 20 showed a 13.5 percent decrease on-year, and imports also decreased by 6.6 percent. As a result, the trade balance during this period showed a deficit of $29.5 billion, according to KITA. Additionally, until last month, the monthly trade deficit had been steadily decreasing. However, this trend did not continue in May. The trade deficit reached a peak in January of $12.5 billion, but showed improvement in February ($5.2 billion), March ($4.6 billion) and April ($2.6 billion). Nonetheless, during the period of May 1 to May 20, the trade deficit increased again to $4.3 billion.
Kita Frequently Asked Questions (FAQ)
When was Kita founded?
Kita was founded in 2021.
Where is Kita's headquarters?
Kita's headquarters is located at Britannia Court, Worcestershire.
What is Kita's latest funding round?
Kita's latest funding round is Seed VC.
How much did Kita raise?
Kita raised a total of $5.27M.
Who are the investors of Kita?
Investors of Kita include Carbon13, Climate VC, Octopus Ventures, Chaucer, Hartree Partners and 6 more.
Who are Kita's competitors?
Competitors of Kita include Parhelion and 1 more.
What products does Kita offer?
Kita's products include Carbon Purchase Protection Cover.
Compare Kita to Competitors
Parhelion is an energy and climate risk finance company specializing in non-traditional risk issues.
We2Sure offers insurance-based solutions. It provides insurance for accelerating planet decarbonization, supporting the transition to green technologies, strengthening fundamental human resilience, and enhancing new platform technologies in a socially responsible world. The company was founded in 2021 and is based in Dublin, Ireland.
Goodvest offers life insurance products that focus on transparency and aligns with the Paris Agreement. The money invested by its customers is only used to finance companies whose development strategy is aligned with a trajectory of global warming estimated at 2°C. Goodvest is an insurtech platform that caters to consumers in France. It was founded in 2020 and is based in Paris France.
Possible operates as a United Kingdom climate charity. It is running tree-planting days, vegan feasts, and heat-camera treasure hunts. The company was founded in 2019 and is based in London, England.
investing green operates as an investing platform for sustainable and future-oriented projects. It offers crowd-investing solutions. It provides services such as consultation, advertising, planning, and construction of the renewable generation plant. It aims to support climate protection, decarbonization, and the expansion of renewable energy sources. It was founded in 2021 and is based in Vienna, Austria.
Carbon4 Finance offers a set of climate data solutions covering both physical and transition risks, as well as biodiversity footprint. The proprietary methodologies allow financial organizations to measure the carbon and biodiversity footprint of their portfolio, assess the alignment with a 2°C-compatible scenario and measure the impacts that arise from events related to climate change and biodiversity loss. It was founded in 2016 and is based in Paris, France.
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