Spotify’s CEO is putting $1 billion of his own money in early tech
1/5
One year later
In February 2021, Daniel Ek, Spotify’s CEO,announced that he was setting up Prima Materia, an investment company that has, in the past year, put money in a green-steel startup as well as on funds focused on artificial intelligence, life sciences and climate.
2/5
Northvolt AB
One of Ek’s early investments after the announcement, Swedish battery maker Northvolt raised $2.75 billion from multiple investors. Northvolt is fast rising as the European rival to Tesla, with more funding coming along.
3/5
H2 Green Steel
The green-steel company is working on technology designed to eliminate almost all carbon dioxide from steel production. The company raised approximately € 2.5 billion in its first phase; production is expected to commence in 2024.
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4/5
Pale Blue Dot
A climate venture fund that invests in European companies that aim to reduce or reverse climate change through changing systems. Some of its early investments range from carbon sequestration to using AI and satellite data to better map the impact of forest fires on trees.
5/5
Helsing
An artificial intelligence company, it is focused on defence and security. Helsing aims to build AI to serve democracies and play a part in protecting them, according to the Prima Materia website. The software they’re creating plans to aid human decision making in security situations.