Planet A Ventures leads £4.2 million seed funding for Carbon Re
Climate tech company Carbon Re has secured £4.2 million in seed funding from Planet A Ventures to accelerate the development and deployment of its cutting-edge AI technology “Delta Zero”.
The platform is aimed at decarbonising energy- & pollution-intensive industries, such as cement production. Compared to current Carbon Capture and Storage technology, its platform cuts production costs without requiring new equipment. The funding will further Carbon Re’s mission to tackle emissions at a large scale by allowing its expansion into other energy-intensive sectors such as steel, glass, and chemicals.
TechMiners performed a Product and Technology Due Diligence for Planet A Ventures prior to its investment in Carbon Re. The project included assessing the architecture, infrastructure, and technology, as well as the teams, processes, and scalability of Carbon Re. Additionally, our experts analysed the data engineering & MLOps practices and performed a deep dive into the machine learning models used in order to assess the product’s AI technology.
Carbon Re uses AI technology to achieve its mission of massive yearly reduction of carbon emissions, by focusing on energy-intensive industries such as cement, steel, and glass, which together are responsible for more than 20% of global emissions. Carbon Re's "Delta Zero" platform for industrial decarbonisation uses deep learning to enable rapid development and deployment of new low-carbon industrial processes, designs, and materials.
The investment fund Planet A partners with European green tech start-ups that have a significant positive impact on our planet, while building scalable businesses globally. Its use of scientific impact assessments in support of investment decisions is a first in the European VC world and empowers founders to manage and improve their impact. Innovation is supported in four key areas: climate mitigation, waste reduction, resource savings, and biodiversity protection.
TechMiners is a leading provider of Product and Technology Due Diligence for PE, VC, and strategic investors. Our data-driven technology due diligence enables investors to make smarter decisions by providing clear, fact-based, and business-oriented insights on target companies’ tech. Enabled by Techminers’ proprietary software, our team of battle-hardened CTOs executes a unique, data-driven approach to help you get the real picture, fast. Our track record includes more than 120 assessments totaling over €5 bn. in transaction value, which have to date been executed in 17 countries.