Crux, a NYC-based sustainable finance technology company, raised $18.2M in Series A funding.
The round, which brought the total amount to over $27M, was led by Andreessen Horowitz. Existing investors Lowercarbon Capital, New System Ventures, Overture, and The Three Cairns Group participated. David Haber, General Partner at Andreessen Horowitz who specializes in technology investments and financial services, will join the board.
The company intends to use the funds to grow its team to 30+, drive annual volumes of transferable credits to the billions, and expand offerings to other parts of the capital stack for clean energy and decarbonization projects.
Co-founded by Alfred Johnson and Allen Kramer, Crux is a sustainable finance technology company which specializes in clean energy and decarbonization projects are financed in the U.S. Its first offering is the ecosystem for buyers, sellers, and intermediaries to transact and manage transferable tax credits.
Since its launch in 2023, Crux has raised $27M in funding from venture capital and strategic investors and built a team that merges expertise from energy, finance, government, and technology to empower the clean energy transition.
Andreessen Horowitz joins a group of venture and strategic investors including Ardent Venture Partners, Canapi Ventures, QED Ventures via Bolt, LS Power, Ørsted, Hartree, CIV, and Commonweal Ventures.
Commenting on the news, Alfred Johnson said: “This new round of funding will help us build even faster, grow the transferable tax equity market at a critical moment, and expand our services — furthering our mission of making sustainable finance more efficient and interconnected.”
FinSMEs
31/01/2024