Orrick Advises Green City Solutions on seven-figure first round financing
The Biotech and Internet-of-Things (IoT) Start-up Green City Solutions GmbH
headquartered in Berlin announces the successful completion of its first round financing with LITTLEROCK GmbH (Düsseldorf), coparion GmbH & Co. KG (Cologne, Berlin) as well as DON Ventures II GmbH & Co. KG (WOLFMAN.ONE GmbH / Prof. Nietzer, Dr. Doll Holding GmbH, Heilbronn) and one smart money investor not mentioned by name.
Every day 90 % of cities’ inhabitants breathe polluted air which causes every 7th death worldwide. In addition this leads to a yearly economic damage in the amount of more than 5 trillion US Dollar. The unique and patented product of Green City Solutions aims to solve this global problem by providing clean and cool air in urban environments. The smart concept combines cutting-edge In-ternet-of-Things (IoT) technology with specific moss cultures and plants that eat particulate matter (PM) and nitrogen dioxide – offsetting 240 Tons of CO2 equivalents per year in total. The so-called “CityTree” has the same environmental impact as 275 urban trees but requires only the space of 3m².
“It was a pleasure to advise Green City Solutions and its founders on their first investment round. They are up to a great start and we are thrilled to help them on their mission to tackle one of the urban world’s biggest problems”, said Sven Greulich who led the Orrick team.