CarbonChain, a London-based startup that uses blockchain technology to track carbon emissions, has recently secured $10 million in Series A funding. The funding round was led by European venture capital firm, Lowercarbon Capital, and included participation from existing investors, including XTX Ventures and Systemiq.
The company was founded in 2019 by CEO, Oliver Bolton, with the aim of creating a more transparent and efficient way of tracking carbon emissions. CarbonChain’s platform uses blockchain technology to create a tamper-proof record of carbon emissions data, which can be used by companies to demonstrate their commitment to reducing their carbon footprint.
In a recent interview, Bolton shared his insights on the funding round and the future of CarbonChain. He explained that the funding will be used to expand the company’s team and further develop its technology. “We’re really excited to have this funding in place, which will allow us to accelerate our growth and continue to innovate in the carbon tracking space,” he said.
Bolton also discussed the importance of transparency in carbon tracking and how CarbonChain’s platform can help companies achieve this. “There’s a real need for transparency in carbon tracking, as it’s often difficult for companies to know exactly where their emissions are coming from and how they can reduce them,” he said. “Our platform provides a clear and transparent record of emissions data, which can be used to identify areas for improvement and track progress over time.”
CarbonChain’s platform has already been adopted by a number of companies, including BP and Shell. Bolton believes that this is just the beginning and that there is huge potential for the company to grow in the coming years. “We’re seeing a real shift towards sustainability and companies are increasingly looking for ways to reduce their carbon footprint,” he said. “We believe that our platform can play a key role in helping them achieve this.”
Overall, CarbonChain’s recent funding round is a clear indication of the growing demand for sustainable solutions and the potential for blockchain technology to play a key role in this space. With the support of its investors and a strong team in place, CarbonChain is well-positioned to continue its growth and make a real impact in the fight against climate change.
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