Daphne Technology raises an additional CHF 4 million to scale up the company

16.03.2022 09:25, Isabelle Mitchell

Daphne Technology, a climatetech startup focused on solving the greenhouse gas (GHG) challenge, has raised an additional CHF 4 million from Swisscom, private investors introduced through UBS Growth Advisory, and ONE CREATION to scale up the company. Daphne Technology won Venture Kick in 2018, was a Venture Leader China in 2020, and was one of the TOP 100 Swiss Startups from 2019 to 2021. 

The transition to sustainable energy sources is fundamentally reshaping the global economy. A dramatic reduction of greenhouse gas (GHG) emissions is necessary to meet the Paris Agreement goals and International Maritime Organization (IMO) regulations. Daphne Technology focuses on solving the GHG challenge in tough-to-decarbonize industries by developing next-generation climate mitigation technology. 

Swisscom, private investors introduced through UBS Growth Advisory, and ONE CREATION invested in the second closing of Daphne Technology’s equity offering. The company also raised CHF 10 million in October 2021 from strategic investors, including Shell Ventures, Trafigura, AET Tankers, and Saudi Aramco Energy Ventures. 

“We are proud to continue attracting best-in-class investors committed to working together, with Daphne, for an economically sustainable energy transition,” said the founder and CEO of Daphne Technology, Dr. Mario Michan. “With this investment, we will be able to accelerate the development of next-generation climate mitigation technology. Global momentum is building to achieve net-zero in GHG emissions—and Daphne Technology is right in the middle of it. Getting there will require exceptional levels of technological innovation.” 

Jennifer Webb, Investment Director at Swisscom Ventures, commented: “An investment into Daphne is a novel and deep technology approach to reduce warming and toxic emissions in the shipping sector. Swisscom believes this will substantially lower the transition cost for shipping owners and charterers, indirectly benefiting companies and consumers who might otherwise face higher emissions or higher shipping costs.”  

Res Witschi, delegate for Sustainable Digitization at Swisscom, added: “Swisscom aims to contribute to climate protection by reducing CO2 emissions by 1 million tons until 2025 through intelligent solutions like Daphne’s. Daphne can have a substantial impact on lowering Greenhouse Gas (GHG) emissions with its sophisticated hardware and software and contribute to a more climate-friendly supply chain for Swisscom.” 

Furthermore, Fulvio Maccarone, Private Equity Manager, stated: “Daphne Technology embodies the kind of companies addressing important climate-change-related issues that ONE CREATION is looking to support.”

Daphne Technology won Venture Kick in 2018, was a Venture Leader China in 2020, and was one of the TOP 100 Swiss Startups from 2019 to 2021.