Venture Capital: Carbon Removal Platform CUR8 Scores £5.3M (US$6.6M) Pre-Seed Funding
The CUR8 platform offers clients “carbon removal portfolios” to offset and reduce their emissions and reach their net zero targets.
CUR8 is a company founded by Marta Krupinska, Dr Gabrielle Walker, and Mark Stevenson, with the aim of becoming the market maker for carbon removals. The company recognizes the importance of removing carbon emissions from the atmosphere to limit global warming and reach net zero by 2050. CUR8 raised £5.3 million in pre-seed funding, led by GV (Google Ventures), along with other investors. The funds will be used to expand the team, scale up capacity, and further develop their software platform.
According to the company, there is currently a lack of trust and verification in the carbon removal industry. To address this issue, CUR8 conducts supplier due diligence and monitoring to provide high-quality carbon removal portfolios that buyers can rely on. Its customers include prestigious events such as The Queen’s Platinum Jubilee Pageant and the British Summer Time concert series.
The company recognizes that different carbon removal technologies, such as afforestation, direct air capture, and enhanced weathering, are crucial in offsetting unavoidable emissions. However, the industry is still in its early stages and faces challenges like lack of supply, concerns about quality and risk, and high prices.
These challenges discourage companies from investing in carbon removal portfolios. CUR8 aims to professionalize and accelerate the carbon removal industry by buying carbon removal credits from trusted suppliers and building high-quality portfolios that combine different strategies and methods.
They hope to bring down the price over time to make it more accessible to companies of all sizes. CUR8’s portfolio comprises removals such as direct air capture, enhanced rock weathering, and durable soil carbon.
CUR8 has set a mission to facilitate 10% of global carbon removals by 2050, amounting to 10 billion tonnes of carbon dioxide. It carries out supplier due diligence in-house and track the progress of carbon sequestration to de-risk purchases and provide transparency for companies investing in carbon removal. In the future, CUR8 plans to develop financial tools to support the scaling of carbon removal technologies.
Marta Krupinska, CEO of CUR8, believes that carbon removal is a crucial industry that can address the climate crisis while driving scientific progress, job creation, and opportunities worldwide.
Related Story: Farmland CO2 Remover Andes Lands $30M
Image of Direct Air Capture: CUR8
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