London-based CUR8, a startup dedicated to building the global market for carbon removals, announced that it has secured £5.3M in a pre-seed round of funding.
CUR8 says that the additional funding will help expand its team, product development will continue, and the platform’s ability to service more clients and suppliers will be increased.
The investment was led by GV (Google Ventures). GV promotes “innovative” entrepreneurs who advance the world. It backs startups in sectors including medical sciences, consumer, business, cryptocurrency, environmental, and emerging technology.
CUR8 claims to create the necessary technologies to accelerate the carbon removals sector. The platform purchases carbon offset credits from reputable sellers and creates reputable carbon offset portfolios by combining various tactics and techniques.
The startup aims to lower the cost over time as the sector grows and develops, starting with an industry-standard set price of £150 per carbon removal, to make it more affordable for businesses of all kinds.
In the past, CUR8’s platform has removed carbon from royal events like The Queen’s Platinum Jubilee Pageant and The State Funeral of HM Queen Elizabeth II as well as public events like British Summer Time and All Points East.
The platform’s portfolio includes removals like direct air capture (1pointfive), enhanced rock weathering (UNDO), and durable soil carbon (Loam Bio).
CUR8 was founded in 2022 by Marta Krupinska (co-founder of Azimo, Google for Startups UK lead), Dr Gabrielle Walker (carbon removals expert and founder of non-profit Rethinking Removals), and Mark Stevenson (author and former advisor to UK Ministry of Defense).
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