Total amount raised
$100 Millions
Latest funding date
Location
Charm Industrial has secured $53 million in offtake agreements, marking a significant milestone in its fundraising journey. The company focuses on innovative carbon removal technology, converting agricultural residues into bio-oil for underground storage.
Keep reading to explore the intricacies of Charm Industrial's fundraising journey and the investors backing this innovative platform.
What Is Charm Industrial?
Charm Industrial is a company dedicated to carbon removal technology, focusing on converting agricultural residues into bio-oil for underground storage. The company collects biomass, processes it through pyrolysis, and ensures permanent CO₂ sequestration by injecting the bio-oil underground.
Unfortunately, the founding year, location, founders' names, and the number of employees were not found in the provided sources. The information requested was not available on the security verification page from Crunchbase or the main content of Charm Industrial's website.
How Much Funding Has Charm Industrial Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial carbon removal technology.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and scale the company's carbon removal technology.
- Series B
- Amount Raised: $100 million
- Date: June 2023
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Charm Industrial's Colorado facility, build a fleet of mobile pyrolyzers, and accelerate technology and operations.
Total Amount Raised: $100 million
Current Valuation: Not publicly disclosed
Key Investors
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. They focus on transformative investments across various sectors, including technology, healthcare, and consumer services.
- Investment Focus Areas: Technology, Healthcare, Consumer Services
- Notable Investments: Stripe, Airbnb, Snap
- Lowercarbon Capital
- Details: Lowercarbon Capital is a venture capital firm that focuses on climate tech investments. They aim to back companies that are working on solutions to reduce carbon emissions and combat climate change.
- Investment Focus Areas: Climate Tech, Carbon Reduction, Renewable Energy
- Notable Investments: Carbon Clean Solutions, Twelve, Brimstone Energy
- Thrive Capital
- Details: Thrive Capital is a venture capital firm that invests in internet and software investments. They focus on companies that have the potential to create significant impact and value.
- Investment Focus Areas: Internet, Software, High-impact Technology
- Notable Investments: Instagram, Slack, GitHub
- Exor Ventures
- Details: Exor Ventures typically invests in innovative companies across various industries. They are known for their strategic investments and long-term value creation.
- Investment Focus Areas: Various Industries, Innovation, Long-term Value
- Notable Investments: Not publicly disclosed
- Kinnevik
- Details: Kinnevik focuses on investing in digital consumer businesses. They aim to back companies that leverage technology to create significant consumer value.
- Investment Focus Areas: Digital Consumer Businesses, Technology, Consumer Value
- Notable Investments: Zalando, Tele2, Babylon Health
What's Next for Charm Industrial?
Charm Industrial stands at the cusp of significant growth, driven by its recent $100 million Series B funding. The company plans to expand its Colorado facility and build a fleet of mobile pyrolyzers, capitalizing on the increasing corporate interest in carbon credits and sustainable technologies. With offtake agreements for 140,000 tons of CO₂ from major corporations like JPMorgan Chase and the Frontier consortium, the opportunities are vast.
Future fundraising seems likely as Charm scales its operations and technology. The company may seek additional funding rounds to support its ambitious plans, including expanding bio-oil production and transport capacity. However, challenges such as scaling operations, managing logistics, and navigating regulatory landscapes could pose hurdles. Despite these challenges, the potential for growth and impact in the carbon removal industry remains substantial.
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