German-based Squake, a carbon accounting startup for travel and logistics emissions, has raised EUR 3.5 million (USD 3.8 million) in a venture funding round led by Simon Capital. This brings the company's total funding to EUR 5 million (USD 5.5 million).

The fresh funding raised by Squake will be used to support R&D activities, team expansion and fuel growth in strategic markets.The round was supported by Schenker Ventures, Rivus Capital, and existing investors Neosfer and Backbone Ventures.

Founded in 2021, Squake emerged from the Lufthansa Innovation Hub. The company offers an API integration tool for calculating carbon emissions on travel booking sites and logistics software. In addition to flights, the company calculates emissions for shipping, car rentals, hotels, and logistics. The company also offers carbon removal and offset solutions via its platform offering, including sustainable aviation fuels (SAF), direct carbon capture (DAC), and reforestation initiatives. Squake works with Convelio, Aviatar, Viatu, DIB Travel, Quicargo, time:matters, RYDES, logistics.cloud, BizAway, Lufthansa Cargo.