On Target for 400m Tonnes of Decarbonisation - Carbon13 Closes Successful Seed Round of Over $2.2m
20.7.2023 09:33:00 EEST | Business Wire | Press release
Carbon13, the venture builder for the climate emergency, is today announcing the close of its latest seed round, resulting in over $2.2m.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230719330116/en/
L-R, Jonathan Cumming, Chief Financial Officer & Managing Director, Dr Chris Coleridge, Founder & CEO, Dr Nicky Dee, Co-founder & Chief Sustainability and Innovation Officer, Michael Langguth, Co-founder & Chief Strategy Officer (Photo: Business Wire)
The new funding is set to boost Carbon13’s operations significantly and propel Carbon13’s current and future ventures towards the key target of 400 million tonnes of decarbonisation.
The successful funding round was made possible thanks to a range of family offices and venture firms, including True Ventures, a Silicon Valley-based venture capital firm focused on early stage technology startups.
The new injection of funding for Carbon13 will enable a significant increase in climate startup production and a scaling of ambition. Currently, Carbon13 ventures possess an annual mitigation potential of over 420 million tonnes of CO2e – this potential is now set to rise further, as is the number of invested ventures built through Carbon13 programmes since 2021 (currently 46).
In addition, since 2021, Carbon13 has now supported over 350 startup founders through its three programmes (Venture Builder Europe, Venture Builder UK, and Venture Launchpad). This number is also set to grow significantly thanks to the new funding. By end of 2025, Carbon13's Venture Builder is on course to support over 1,000 entrepreneurs to build at least 200 startups.
Commenting on the successful funding round, 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 decarbonisation and carbon capture.
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 decarbonisation 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.”
Also commenting, 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.”
- ENDS -
About Carbon13
Carbon13 is the Venture Builder for the Climate Emergency. Since 2021, three programmes of the Venture Builder Europe, Venture Builder UK, and Venture Launchpad, have invested in 46 startups, and worked with over 350 founders. Carbon13 grew out of the Cambridge ecosystem of technology, academia and innovation, and has expanded to Berlin, our new base in the EU. Notable Carbon13 alumni include Kita, Infyos, Nium, Biozeroc, Materials Nexus and Tierra Foods. Kita and Tierra Foods are both nominated for Earthshot 2023 prizes.
Carbon13 media pack available here: https://carbonthirteen.com/media/
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