Key Highlights
- LT CARBON secures $12 million seed funding led by Lachy Groom to boost carbon removal projects in South Asia.
- Bengaluru-based climate startup ALT CARBON aims to remove 5 million metric tons of CO2 by 2030 using Enhanced Rock Weathering (ERW).
- ALT CARBON partners with farmers and global firms like Shopify to turn unused farmland into carbon sinks and boost rural economies.
Led by Lachy Groom, ALT CARBON raised $12 million (approx. Rs. 102.8 crore) in its seed funding round, along with support from Shastra VC and angel investors Jason Zhao, Amrendra Singh, Tanmay Bhat, Arjun Soin, Nakuul Mehta, Arjun Ramani, Advaith Vishwanath and Rahul Seth.
According to a LinkedIn post by Shrey Agarwal, Alt Carbon recently raised a fresh round of money.
According to ALT CARBON, the new investment will fund projects in South Asia that help remove carbon dioxide and money will also go towards research and development.
Shrey and Sparsh Agarwal founded ALT CARBON in 2023 to assist farmers and scientists in putting unused farmland to work as a place to save carbon. Its goal is to use methods like Enhanced Rock Weathering to help make South Asia a center for CDR.
The Bengaluru startup plans to use this round to update its research, engage in advanced studies, gather better data and create Machine Learning tools to speed up their activities. The DRP is Agastya’s biggest project, working to heal stressed soils, raise employment and income opportunities and benefit the surroundings in Darjeeling.
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By 2030, ALT CARBON expects to take out 5 million metric tons of CO2 and become the top CDR leader in South Asia. The startup partners with both nearby farmers and organizations such as Frontier and Shopify. With ERW, CO2 is cleaned up which helps the soil, increases crop yields and strengthens the local economy.
