With the help of Shastra VC and other angel investors like Jason Zhao, Amrendra Singh, Tanmay Bhat, Arjun Soin, Nakuul Mehta, Arjun Ramani, Advaith Vishwanath, and Rahul Seth, the deeptech startup ALT CARBON has raised $12 million (roughly Rs 102.8 crore) in a seed funding round led by Lachy Groom.
In a LinkedIn post, Alt Carbon cofounder Shrey Agarwal revealed the funding round.
The new funding will be used for research and development as well as the construction of new projects that allow carbon dioxide removal (CDR) throughout South Asia, according to a press release from ALT CARBON.
In 2023, Shrey and Sparsh Agarwal founded ALT CARBON, which assists scientists and farmers in using dormant lands as sinks for carbon removal. By utilizing technologies such as Enhanced Rock Weathering, it seeks to establish South Asia as a center for CDR.
With this round, the Bengaluru-based startup intends to advance its science, carry out cutting-edge research and development, gather high-quality data, and develop machine learning models that will speed up its operations. Its main initiative, the Darjeeling Revival Project (DRP), intends to repair ecosystems, livelihoods, and degraded soils in Darjeeling, India.
By 2030, ALT CARBON hopes to eliminate 5 million metric tons of CO2 and establish itself as a leader in CDR in South Asia. The startup partners with local agricultural communities and businesses, including Shopify and Frontier. ERW enhances soil health in addition to removing CO2, which may increase crop yields and sustain local livelihoods.
