CarbonCapture, a Los Angeles, CA-based direct air capture (DAC) company, raised $80M in Series A funding.
The round was led by Prime Movers Lab, with participation from Idealab X, Marc Benioff’s TIME Ventures, Neotribe Ventures, Alumni Ventures. New investors included Amazon’s Climate Pledge Fund, Aramco Ventures, and Siemens Financial Services.
The company intends to use the funds to continue technology development and field deployments of DAC systems.
Led by CEO Adrian Corless, CarbonCapture develops and deploys direct air capture (DAC) machines that can be connected in large arrays to remove massive amounts of carbon dioxide from the atmosphere. With a patented modular open systems architecture, its DAC systems allow for plug-and-play upgrades, mass production, unlimited scalability, and rapid technology iterations.
To date, the company has pre-sold over $26M in carbon removal credits to many companies, including Microsoft, Boston Consulting Group, Alphabet, Meta, Stripe, Shopify, McKinsey & Company, and JPMorgan Chase & Co.
FinSMEs
14/03/2024