Solid World founders shut down project and raise €2M for a new one

Estonian blockchain startup Solid World will be shut down. Its founders are developing a new project, Soldera, which promises to use artificial intelligence to reduce administrative costs for renewable energy producers. In December, Soldera raised a seed round of over €2M from investors, with David Hinrikus and Lemonade Stand contributing.

Founded in Tartu in 2024 by Stenver Jerkku and Al William Tammsaar, Soldera enables renewable energy producers to generate extra revenue through an automated system for trading certificates of energy origin. These certificates ensure that organizations can claim the use of 100% renewable energy, even when direct transmission from producer to consumer is not feasible. 

Solid World DAO is building a Web3 carbon marketplace that allows the pre-purchasing of carbon credits — permits that allows the owner to emit a certain amount of carbon dioxide or other greenhouse gases. It means that potential carbon projects can get paid upfront and receive the funding that they need to get started. Solid World was founded in 2021 in Estonia by Stenver Jerkku. 

Lemonade Stand is a venture capital fund investing in early stage technology startups from the Baltic States and Eastern Europe. The company was founded in Tallinn, Estonia in 2019 by Siim Teller.