Total amount raised
$36 Millions
Latest funding date
01/01/2023
Location
Living Carbon has successfully raised funding through a Series A round, attracting investment from notable backers such as Lowercarbon Capital and Toyota Ventures. The company focuses on combating climate change by genetically enhancing CO2 capture and storage in trees.
Keep reading to explore the intricacies of Living Carbon's fundraising journey and the investors backing this innovative platform.
What Is Living Carbon?
Living Carbon, founded in 2019 by Maddie Hall and Patrick Mellor, is a public benefit company based in San Francisco, California. The company focuses on combating climate change through biotechnology, specifically by genetically enhancing the CO2 capture and storage capabilities of trees.
With a team of 11-50 employees, Living Carbon develops genetically modified trees that show increased biomass growth and metal accumulation traits. They also engage in reforestation projects on degraded lands, aiming to restore ecosystems and improve biodiversity.
In addition to their reforestation efforts, Living Carbon creates high-quality carbon removal projects for corporations and develops fast-growing poplar trees for biomass feedstock. Their innovative approach not only helps in carbon sequestration but also generates income for landowners and partners near processing facilities.
How Much Funding Has Living Carbon Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: July 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their biotechnology solutions for enhanced CO2 capture.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further research and development of genetically modified trees.
- Seed 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 expand their team and scale initial projects.
- Series A
- Amount Raised: $15M
- Date: February 2022
- Lead Investors: Felicis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the deployment of photosynthesis-enhanced trees and fund additional R&D.
- Series A
- Amount Raised: $21M
- Date: January 2023
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To produce and plant 4-5 million photosynthesis-enhanced seedlings and develop carbon projects.
Total Amount Raised: $36M. Current Valuation: Not publicly disclosed.
Key Investors
- Temasek Holdings
- Details: Temasek Holdings is an investment company headquartered in Singapore with a net portfolio value of S$403 billion (US$297 billion) as of March 31, 2022. It has 12 offices in 8 countries and focuses on sustainability and catalyzing solutions to global challenges.
- Investment Focus Areas: Sustainability, global challenges, financial, human, social, and natural capital.
- Notable Investments: Various investments focused on sustainability and global challenges.
- Lowercarbon Capital
- Details: Lowercarbon Capital is a venture capital firm founded by Chris and Crystal Sacca. It focuses on companies that reduce CO2 emissions and remove carbon from the atmosphere.
- Investment Focus Areas: CO2 emissions reduction, carbon removal, climate solutions.
- Notable Investments: Companies that slash CO2 emissions and remove carbon from the atmosphere.
- Toyota Ventures
- Details: Toyota Ventures is a venture capital firm based in the San Francisco Bay Area, investing in early-stage startups with a focus on disruptive technologies and business models. It manages more than $500 million in assets.
- Investment Focus Areas: Artificial intelligence, cloud computing, autonomy, mobility, robotics, smart cities, digital health, financial technologies, materials, energy, and carbon neutrality.
- Notable Investments: Startups in artificial intelligence, cloud computing, autonomy, mobility, robotics, smart cities, digital health, financial technologies, materials, and energy.
- Felicis Ventures
- Details: Felicis Ventures is a venture capital firm that invests in early-stage companies across various sectors. It has a track record of backing transformative technologies and innovative business models.
- Investment Focus Areas: Technology, healthcare, consumer, enterprise, and financial services.
- Notable Investments: Not explicitly detailed in the provided sources.
- Other Strategic Angels
- Details: Various individual investors who have participated in funding rounds for Living Carbon. Specific details about these investors are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for Living Carbon?
Living Carbon is poised to capitalize on the burgeoning voluntary carbon credit market, projected to exceed $50 billion by 2030. With plans to plant 4-5 million photosynthesis-enhanced seedlings, the company aims to significantly impact carbon sequestration and ecosystem restoration. This large-scale deployment offers substantial opportunities for growth and partnerships with landowners and corporations.
Future fundraising efforts will likely focus on scaling operations and advancing research and development. However, challenges such as regulatory hurdles, scalability, and market competition could pose obstacles. Navigating these challenges will be crucial for Living Carbon to maintain its innovative edge and achieve its ambitious goals.
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