Flowcarbon Raises $70M in Funding
Summary
The round was led by a16z crypto with participation from General Catalyst, Samsung Next, Invesco Private Capital, 166 2nd, Sam and Ashley Levinson, Kevin Turen, RSE Ventures, and Allegory Labs. Co-founded by CEO Dana Gibber, COO Caroline Klatt, Rebekah Neumann, Adam Neumann, and Ilan Stern, and also run by Phil Fogel (Chief Blockchain Officer), Flowcarbon is a climate technology company that brings carbon credits onto the blockchain. Its mission is to make carbon markets accessible and transparent, enabling billions of dollars to be invested directly into projects that combat climate change. Through the protocol, project developers can immediately access a marketplace of buyers interested in their credits by bringing them onto the blockchain. To date, the company has made significant partnership announcements including its collaboration with the Centrifuge protocol, which will unlock the debt markets for carbon project developers, as well as its collaboration with the Layer 1 blockchain Celo, to provide $10 million of GNT to offset Celo’s emissions.