Berlin Climate-Tech Startup eco.mio Secures Seven-Figure Seed Funding to
Promote Sustainable Business Travel

Issuer: eco.mio GmbH / Key word(s): Financing
Berlin Climate-Tech Startup eco.mio Secures Seven-Figure Seed Funding to
Promote Sustainable Business Travel (news with additional features)

18.06.2024 / 12:15 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Berlin, June 18th 2024

The startup eco.mio, founded by Katharina Riederer, Mario Blatter, and Sarah
Benarey, has successfully completed a low seven-figure seed funding round.
The goal is to expand beyond Germany and diversify its product offerings.
The financing is led by IBB Ventures, identity.vc, and the Hans(wo)men
Group, with support from N&V Capital, Partners in Clime, Robert Jacobi,
Alfred Luger, Volker Rofalski, Patrick Diemer, Lea-Sophie Cramer, and Nicole
Büttner.

Katharina Riederer, Co-Founder and CEO, comments: "This funding allows us to
scale our solutions to become a European leader and significantly expand our
product range. With the support of our investors, we will significantly
accelerate our vision of making sustainability a core element of every
business trip."

Forward-Looking Approach for More Sustainable Business Travel

eco.mio is leading the transformation of the business travel world with a
forward-looking approach. By integrating modern technologies and
sustainability strategies into traditional booking systems of large
corporations, such as Cytric and SAP Concur, the startup has expanded its
user base to 40,000 and already reduced its clients' CO2 emissions by 26%.

The urgency of immediate action is underscored by the EU regulations (CSRD)
coming into effect next year, which require the disclosure of CO2
footprints, reduction targets, and transition plans. eco.mio offers a
critical solution to meet these new requirements, as traditional methods
like mere compensation payments are insufficient to achieve the
science-based targets. Moreover, companies are increasingly focusing on
business travel in their CO2 reduction strategies, as it is not only
frequently visible to most employees and shapes corporate culture, but also
expected to generate significant positive ripple effects.

Cindy Beckel from IBB Ventures says: "The strong founding team of eco.mio
impressively combines sustainability with economic viability, making it a
valuable addition to our Impact Fund. We are firmly convinced of their
potential and look forward to supporting eco.mio on their path to success."

Til Klein from identity.vc adds: "The ability to integrate directly into the
existing systems of business customers makes eco.mio's solution extremely
valuable. This is a crucial factor for our investment decision."

Strategic Product Diversification and Expansion also Outside of Germany

The fresh capital will be specifically used to expand eco.mio's
international presence. In addition, new applications for hotels and rental
cars will be introduced, as well as advanced solutions in the area of
sustainability governance covering internal CO2 taxation and budgets.

Strong Industry Partnerships and Customer Success

eco.mio has built significant partnerships with some of the industry's
biggest providers, including Cytric by Amadeus, Lufthansa City Center,
Advito (BCD Travel), and Deutsche Bahn. These partnerships not only
strengthen eco.mio's market position but also help the company implement its
solutions through interfaces on a broad scale. Reference customers already
benefiting from the eco.mio platform include companies such as Roland Berger
and Kearney. eco.mio was on top awarded the prestigious Business Travel
Sustainability Award in 2023.

Hansi Hansmann, Hans(wo)men Group, underscores: "As an investor, I look for
teams that not only have a groundbreaking idea but also the ability and
passion to implement it. eco.mio has shown both, and I am proud to support
their vision."


Image link:
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Image title: asd

About eco.mio: Founded in 2021 in Berlin, eco.mio aims to drastically reduce
CO2 emissions through business travel. By combining technology and
behavioral changes, the platform enables companies to make more sustainable
decisions and actively pursue their climate goals.

About IBB Ventures: IBB Ventures has been providing venture capital to
innovative Berlin-based companies since 1997 and has established itself as
the market leader in early-stage financing. The funds are primarily used for
development and market launch of innovative products or services as well as
for business concepts from creative industries. In addition to the two VC
funds for technology and creative companies with a volume of EUR 90 million,
an impact VC fund with a volume of EUR 30 million has been in the investment
phase since 2022. All VC funds are financed by the Investitionsbank Berlin
(IBB) and the European Regional Development Fund (ERDF), managed by the
State of Berlin. IBB Ventures has already invested in more than 260 creative
and technology companies in Berlin; in syndicates with partners, the
start-ups received approx. EUR 1.8 billion, of which IBB Ventures has
invested EUR 275 million as lead, co-lead or co-investor. IBB Ventures is
the parent brand for the VC activities of IBB Beteiligungsgesellschaft.

About identity.vc: identity.vc is Europe's first venture capital impact fund
backing LGBTQ+ entrepreneurs. The EUR50 million impact fund (Art. 9 SFDR)
invests in startups with LGBTQ+ representation in the leadership team,
targeting early-stage companies across all sectors from pre-seed to Series A
in Europe and beyond. identity.vc was founded by Til Klein (Zurich), a
former BCG partner and FinTech founder, together with Jochen Beutgen
(Berlin), a family office investor with a 20-year track record in venture
capital. Mari Luukkainen (Helsinki) joined as a Principal, adding experience
as an ex-growth operator and an investor at Icebreaker.vc.

About Hans(wo)men Group: The Hans(wo)men Group, founded by the Austrian
super angel Hansi Hansmann, now includes a portfolio of over 50 startups
from across Europe. Hansi Hansmann has been investing in startups for over
10 years and has already had several successful exits: Shpock, Runtastic,
MySugr, Durchblicker, and Busuu.

Contact for Media Inquiries: Katharina Riederer, E-Mail: k@ecomio.com

High-Resolution Photo & Logo: See attached fact sheet.

Website: https://ecomio.com/


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Additional features:

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File description: Fact Sheet

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