London, United Kingdom-based climate emergency venture builder, Carbon13 closed its seed round with more than USD 2.2 million in funding. The round took place on July 20, 2023. Silicon Valley-based venture capital firm focused on early-stage technology startups True Ventures, joined in the funding. In addition, a range of family offices and venture firms provided the investment.
Purpose of financing for Carbon13
With the latest financing, Carbon12 seeks to boost its operations significantly. In addition, it has plans to fuel current and future ventures towards the key target of 400 million tonnes of decarbonization.
The new injection of funding for Carbon13 will enable a significant increase in climate startup production and a scaling of ambition. Carbon13 ventures currently possess an annual mitigation potential of more than 420 million tonnes of CO2e. The current potential is now set to rise further, as is the number of invested ventures built through Carbon13 programmes since 2021 (currently 46). The company’s Venture Builder aims to support more than 1,000 entrepreneurs to build at least 200 startups by 2025.
What the company’s official has to add
CEO and Founder of Carbon13, Chris Coleridge, said: “This investment from True Ventures and four family offices is crucial to Carbon13’s plans for scaling our support to entrepreneurs tackling the most urgent global challenges in decarbonization and carbon capture.”
He further added, “Climate change is not just a scientific challenge, it is not just a business innovation challenge, it is also a people challenge. We have found that remarkable things happen when you bring together some of the world’s most talented people who are all highly motivated by the mission to fight the climate emergency. True’s investment is, therefore, a valuable recognition of our people-first approach. I’m also delighted that Carbon13 is joining True’s community of decarbonization startups. Launching and scaling ventures with credible claims to significant emissions mitigation was a foundational principle when I was developing Carbon13 with my cofounders. Again, it is our people-first approach which drives this, as our programmes inculcate carbon intelligence within the founding team to empower them to make strategic decisions based as much on carbon reduction as on commercial value. Ultimately, in the world of Net Zero 2050, there will be no distinction between the two.”
What the investor have to add
Priscilla Tyler, Vice President at True Ventures, said, “Our investment in Carbon13 and its focused support of carbon-neutralizing technology is an incredible complement to our portfolio of climate tech investments. What’s more, the Carbon13 team aligns deeply with our values and belief in the creative entrepreneur. They invest in people first and tech second. We’re thrilled for this partnership and to help embolden their important work around mitigating climate change.”
About the company
Chris Coleridge, Michael Langguth, Nicky Dee, and Ranjeet Bhalerao launched the company in 2019. Carbon13 grew out of the Cambridge ecosystem of technology, academia and innovation. The company further expanded to Berlin, its new base in the EU.
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