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Supercritical co founders Michelle You CEO Aaron Randall CTO 3 scaled 1
Technology

Supercritical, a carbon removal marketplace focused on tech companies, secures $13 million in Series A funding from Lightspeed Venture Partners.

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A New Era in Carbon Removal

In a significant development for the carbon removal industry, Supercritical, a marketplace focused on helping tech companies achieve net zero emissions, has raised $13 million in Series A funding. Led by Lightspeed Venture Partners, the round also includes participation from RTP Global, Greencode Ventures, MMC Ventures, and other investors.

The Problem with Carbon Offsets

Carbon dioxide removal (CDR) is a critical component of any company’s efforts to achieve net zero emissions. However, traditional carbon offsets have been plagued by issues such as ineffectiveness, fraud, and lack of transparency. In June, an investigation by the Guardian newspaper, Die Zeit, and SourceMaterial found that over 90% of rainforest carbon offsets certified by Verra were allegedly worthless.

The Importance of CDR

By contrast, Carbon Dioxide Removal (CDR) offsets are recognized internationally as a means to achieve net zero emissions. These offsets involve removing carbon dioxide from the atmosphere, rather than simply offsetting emissions through projects such as reforestation or renewable energy development. Supercritical’s focus on CDR is therefore timely and necessary.

Supercritical’s Approach

Supercritical takes a unique approach to CDR by combining a marketplace with carbon accounting and removal sales capabilities. This allows the company to provide its clients with a comprehensive solution for achieving net zero emissions, from assessment to implementation.

The UK: A Leader in Carbon Pricing and Regulation

Notably, both Supercritical and CUR8, another climate startup focused on market-making for carbon removals, have emerged from the UK. This is testament to the country’s leadership in carbon pricing and regulation.

The Future of CDR

As companies around the world increasingly focus on achieving net zero emissions, the demand for effective and transparent carbon removal solutions will only continue to grow. Supercritical’s $13 million funding round is a significant vote of confidence in the company’s mission to help tech companies achieve net zero emissions through CDR.

The Path Forward

Supercritical’s success demonstrates that there is a growing need for innovative solutions in the carbon removal industry. As the world continues to grapple with the challenges of climate change, companies like Supercritical will play an increasingly important role in helping businesses and governments achieve their net zero targets.

Related Stories

  • CUR8 Raises $6.5 Million for Market-Making Platform: CUR8 has raised $6.5 million from GV for its market-making platform focused on carbon removals.
  • The UK: A Leader in Carbon Pricing and Regulation: The UK is seen as a leader internationally in carbon pricing and regulation, with both Supercritical and CUR8 emerging from the country.

Join the Conversation

What do you think about Supercritical’s $13 million funding round? How will this impact the carbon removal industry?

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