Charm Industrial Raises $100M in Series B Financing
Summary
The round was led by General Catalyst with participation from Lowercarbon, Exor Ventures, Kinnevik, Thrive Capital and Elad Gil. As part of the announcement, General Catalyst’s CEO and Managing Director Hemant Taneja will join Charm’s board alongside Ryan Panchadsaram. The company intends to use the funds to expand engineering and bio-oil R&D efforts, scale operations with tens of thousands of pyrolyzers, and improve transportation capacity. This removes CO₂ permanently from the atmosphere, out of reach of wildfires, soil erosion and land use change. Its primary focus is expanding bio-oil production and transport capacity, and since the beginning of the year they have increased tons of carbon removal delivered per week 5x.
Funding
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