Alt Carbon, a deep-tech science and data startup, has successfully raised $12 million in a seed funding round led by Lachy Groom, with participation from existing investors. This significant investment aims to accelerate Carbon Dioxide Removal (CDR) efforts in the Global South, expand Earth Sciences research and development, advance hardware innovations, and scale operations for durable climate action in India.
Alt Carbon’s Innovative Approach to Carbon Removal
Alt Carbon employs a novel carbon removal method known as Enhanced Rock Weathering (ERW). This process involves sourcing waste basalt rock dust from mines and spreading it across agricultural fields. The volcanic rock not only enhances soil health and crop yields but also reacts naturally with rainwater to remove carbon dioxide. When CO₂ in rainwater interacts with the basalt dust, a chemical reaction converts it into stable bicarbonate ions stored in the soil. Over time, these ions travel through river networks to the ocean, where they eventually reside as calcium carbonate (CaCO₃) for over 10,000 years.
The Darjeeling Revival Project: A Flagship Initiative
Alt Carbon’s flagship initiative, The Darjeeling Revival Project (DRP), is a pioneering effort that combines climate action with cultural and ecological restoration. The DRP aims not only to remove CO₂ at scale but also to restore livelihoods, revive degraded soils and ecosystems, and preserve India’s esteemed export: Darjeeling tea.
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Leadership Insights
Co-founder and CEO Shrey Agarwal emphasized the urgency of innovative solutions in addressing the climate crisis:
"The climate crisis demands bold bets on science innovation, rethinking infrastructure, and deploying capital. Enhanced Rock Weathering is one of the most promising, permanent carbon removal pathways we have, and yet it’s vastly underbuilt."
He further highlighted Alt Carbon’s commitment to scientific depth:
"What sets us apart is our obsession with scientific depth: we’re building advanced labs and engineering the scientific backbone of a new era of climate action grounded in the Global South. Extraordinary crises require outsized ambition, and we now have the capital to kickstart a climate revolution and have a shot at gigaton-scale carbon removal."
Co-founder and President Sparsh Agarwal underscored the financial needs for climate adaptation:
"India needs $1 trillion of climate finance by 2030 alone to adapt our soil, rivers, and cities to climate impact. Globally, we need to remove 10 billion tons of CO₂ every year by 2050. We’re nowhere close to either of these targets. Our goal is to make India a hub for carbon removal. We plan to remove CO₂ at scale from the Global South, for the planet."
Strategic Appointments to Propel Growth
To scale its carbon removal operations across India, Alt Carbon has appointed Yashovardhan Bhagat, former co-founder of ed-tech platform Seekho, as Chief Operating Officer. Additionally, Adithya Venkatesan, former brand head at Gojek, Meesho, and Last9, will lead the in-house Climate Studio, and Dr. Sourav Ganguly, PhD from the Indian Institute of Science, Bangalore, will head the science and modeling team.
Investor Confidence in Alt Carbon’s Vision
Investor and Co-founder of Physical Intelligence, Lachy Groom, expressed strong support for Alt Carbon’s mission:
"Alt Carbon is tackling a once-in-a-generation challenge. The personal journey of the founders, their technical approach, and ambitious vision will help us remove CO₂ from the atmosphere at gigaton scale — all while adapting agricultural land for climate impact."
He added:
"In just 18 months, the team has built a world-class lab, created proprietary models, and laid the foundation for a new class of carbon removal and agricultural infrastructure. This is a category-defining deep-tech company that will reshape how the world thinks about climate action."
Contextualizing Alt Carbon’s Funding Milestone
Alt Carbon’s recent $12 million seed funding round marks a significant leap from its previous pre-seed funding of $550,000 secured in December 2023. This earlier round was led by Shastra VC (formerly Veda VC) and a consortium of strategic angel investors. The initial funds were utilized to build a high-caliber team comprising geologists, geochemists, and geospatial scientists based in India, laying the groundwork for the company’s ambitious projects.
The Broader Landscape of Climate Tech Investments
Alt Carbon’s successful funding round reflects a growing trend in climate tech investments. For instance, German climate technology startup Cloover secured $114 million in seed funding to assist smaller companies managing renewable installations across Europe. Similarly, French-American startup Dioxycle raised $17 million to develop sustainable ethylene from recycled carbon emissions. These substantial investments underscore the increasing global commitment to innovative solutions in the fight against climate change.
Looking Ahead: Alt Carbon’s Path Forward
With the infusion of $12 million in seed funding, Alt Carbon is poised to accelerate its mission of large-scale carbon dioxide removal and climate action. The company’s focus on scientific innovation, strategic leadership appointments, and ambitious projects like the Darjeeling Revival Project position it as a formidable player in the climate tech sector. As the world grapples with the escalating climate crisis, Alt Carbon’s initiatives offer a promising pathway toward sustainable and impactful solutions.
