Carbonable, the most complete platform for companies to manage investments in their climate contribution and efficiently execute their climate strategy, is excited to announce a $1.2M seed round led by Ethereal Ventures, created by Joseph Lubin, Co-Founder of Ethereum, and with La Poste Ventures, operated by XAnge, focused on impact investing. This fundraising has also been financed by renowned investors like Sylvain Theveniaud, Managing Director of Allianz Accelerator.
The funds will be used to grow the team and R&D efforts, as well as manage more international biodiversity projects and strengthen collaboration with industry leaders. In the pre-seed round, Carbonable was also backed by Coline Debayle, Co-Founder of Time For the Planet, and Abdelhamid Bakhta, one of the leading tech figures in the Ethereum ecosystem.
Min Teo, Managing Partner & Co-Founder, Ethereal Ventures, investing in early stage blockchain startups, explains: “We are excited to partner with such a high impact company which is paving the way for carbon neutrality utilizing novel blockchain technology. Their recent successful launch on StarkNet is a strong indicator of the demand for their upcoming pipeline projects.”
Olivier Senot, Director of Innovation of Docaposte, digital subsidiary of La Poste Groupe, adds: “Carbon neutrality is on the investment thesis of La Poste Ventures, operated by XAnge. We think that Carbonable is uniquely positioned to help reach carbon neutrality faster, thanks to a thorough due diligence process for project selection combined with a strong technology platform.”
A unique carbon credit funding and management platform based on blockchain technology for the next multi-billion dollar market
In 2021, companies spent $1 billion in the carbon offset market. The demand for carbon offset is booming and expected to be worth $200 billion by 2050, according to Bloomberg. Carbonable provides this much needed quality carbon credit supply, making funding accessible and transparent; aligning the best interests of investors and the planet.
Carbonable’s innovative approach converts carbon offsetting projects into digital assets, providing unparalleled benefits to companies in executing their climate contribution strategy.
Powered by blockchain technology, the platform allows for better cost, security and transparency of investments, as well as risk diversification, by enabling corporations to tokenize their existing carbon removal projects and/or to select new ones to fund and manage in the long term.
Carbonable also provides accuracy on the carbon credit supply management, and automated accounting, not to mention asset liquidity and traceability throughout the life of the project.
Already recognized by the industry, Carbonable has won the Open Geneva Finance Hackathon in 2022 and was nominated by The Big Whale in 2023 for the Web3 Awards under the Purpose-led Project category.
Guillaume Leti, Co-Founder, Carbonable, commented: “Today, when environmental leadership represents both a need and an opportunity, climate contributions must be part of every corporate strategy. Carbonable brings an actionable solution to empower businesses to execute their climate contributions approach in the most effective way. We are the only player that overcomes the three main challenges of funding, operations and communications.”
Ramzi Laieb, Co-Founder, Carbonable, added: “To reach net zero globally, major corporations need to first reduce their carbon footprint and then support climate contributions. Carbonable ensures the best execution for investors and offsetters to contribute to carbon neutrality in the right way – this is key to creating a sustainable future.”
Over half a million dollars already financed since the beginning of the year
Preserving and restoring natural ecosystems are key to achieving climate balance. Their innovative platform benefits not only businesses but also individuals to get involved and reduce their carbon footprints in the long term. With all projects having sold out in a few minutes, two in South America in May 2022 and another in Africa in January 2023, Carbonable will continue this global expansion with projects ready to go live this year in Europe, Asia and South America.
A growing client-base with leading companies committed to the fight against climate change
Carbonable’s client base includes a pool of cosmetics and pharmaceuticals, media, consulting and Web3 companies, like Argent Wallet, that are engaged in the long-term fight against climate change and want to follow their progress using Carbonable’s AI and satellite imagery technology. A most recent example is Pierre Fabre who is partnering with Carbonable to maximize the impact of their climate contributions through projects in Asia and Brazil, in line with their local activities.
About
Carbonable uses Web3 technology to manage climate contribution strategy; from cost saving, to risk diversification, portfolio management and project monitoring. Targeting both businesses & individuals, Carbonable invests in nature-based removal certified projects with a focus on biodiversity, local community impact and carbon absorption. The toolkit allows you to control your carbon capture supply with real-time web impact reports, using blockchain for traceability and transparency as a shield against greenwashing. Founded in 2021, Carbonable is currently active in Latin America, Asia and Africa through biodiversity projects and has raised $1.2M in seed round via Ethereal Ventures and La Poste Ventures.