Casper co-founder launches climate tech incubator
Philip Krim, co-founder of Casper, is unveiling his newest endeavor, Montauk Climate. A unique climate tech incubator, Montauk Climate is dedicated to nurturing start-ups that are charged with the important task of tackling climate change issues.
Joining forces with Evan Caron, a former commodity trader, and Sharo Atmeh, a lawyer turned portfolio manager, Krim has built a powerful team. Together, this trio aims to foster innovation and original, breakthrough ideas in the realm of climate tech.
Distinguishing itself from other incubators, Montauk Climate not only ensures financial sustainability, but also focuses on cultivating the perfect mix of talent, ideas and strategies. The businesses developed by Montauk Climate are thus well-supported by robust frameworks, strategies, and adequate funding to allow for significant growth.
Having secured an initial investment of $8.5 million, Montauk Climate isn’t solely focused on hardware solutions.
Casper co-founder’s venture into climate innovation
Instead, it is set to promote vast improvements in energy, software, and infrastructure sectors. The company intends to contribute to these sectors by prioritising efficiency and eco-friendly practices, striving to be a game-changer in global environmental conservation.
Montauk Climate has plans not only to foster innovative startups, but also to create its own venture fund and retain equity shares and board seats in the companies founded within the incubator. Montauk Climate will be concentrating on crucial issues, such as regulating energy consumption in data centers, promoting electrification incentives, consolidating weather data, and exploring the insurance sector.
Several companies nurtured within its supportive framework are set to launch in the second and third quarters of this year. The anticipation builds as these novel ventures reflect an urgent and notable requirement for low-carbon investments, crucial in the ongoing fight against climate change.
