Course Corrected closes €80M Fund II for European energy and resource transition startups

Course Corrected has reached the final close of its second fund at €80 million. The European Investment Fund is the anchor investor with €35 million. Other backers include Swedish state-owned investor Saminvest, SEB Life & Pension, SEB-Stiftelsen, a Swedish foundation and private investors.

The Stockholm firm was founded in 2021 by Christine Ahlstrand, Kerstin Cooley and Katja Bergman. Fund II will back 20 to 30 early-stage companies in energy systems, industrial optimisation and automation, electrification and resource-smart solutions. It invests only in Europe. The first fund focused entirely on climate tech.

Seven investments are already made, including battery storage company Tavion, textile fibre recovery startup Renasens, ecomID and Skye.

Ahlstrand said Europe has the technology and the founders, and that the open question is who finances and owns the companies they build.