According to an InsurTech Insights report, Aquiline Capital Partners and firstminute capital led the investment along with other strategic partners. This investment is intended to strengthen Oka's risk-based capital requirements and support its operational growth, especially through Oka Syndicate 1922, an inventive Lloyd's syndicate-in-a-box.

Oka, The Carbon Insurance Company, is reducing risks for carbon credit suppliers and consumers, thereby transforming the voluntary carbon market (VCM). By launching a cutting-edge carbon credit insurance program, Oka protects purchasers against unforeseen risks like credit invalidation and reversal that could happen after the credits are issued.

Each credit obtained under Oka's protection is a promise of one metric ton of carbon that has been successfully eliminated from the environment. Our goal is to preserve accounting integrity in the frequently erratic and uncontrolled VCM, which will build trust and stimulate capital inflow into initiatives that promote climate change.

"We're delighted by the vote of confidence in Oka in a difficult market for venture funding and the VCM alike," expressed Chris Slater, CEO of Oka, as he reflected on the successful funding round. With the money contributed by our astute investors and financial partners, we are one step closer to achieving our lofty goal of guaranteeing each and every carbon credit.