Thallo Raises $2.5M in Seed Funding


Thallo, a Sharm El-Sheikh, Egypt-based climate tech and web3 startup, raised $2.5M in Seed funding.

The round was led by Ripple and lead investors Arcan LLC, Friendly Trading Group 2, as well as Allegory, Cerulean Ventures and Flori Ventures.

The company intends to use the funds to accelerate ongoing development and marketing of its flagship carbon exchange.

Led by CEO Ryan Gledhill, Thallo uses blockchain technology to make it easier for buyers and sellers of carbon credits to find each other. Its flagship carbon exchange will allow businesses and individuals to filter, find and purchase high-quality, verified carbon credits directly from project developers, using blockchain technology to make the process efficient, traceable and transparent.

The company has already built a network of partners and collaborators, including project developers Biofix, InPlanet, TrendCO2e, UNDO, and Ventree Innovations; major web3 players Ripple, Celo, Polygon, and Chainlink; and dozens of other partners.