CarbonChain, a London, UK-based provider of an AI-fueled carbon accounting platform, raised $10M in Series A funding.
The round was co-led by Union Square Ventures and Voyager Ventures.
The company intends to use the funds to build new carbon accounting and reporting products, expand its customer base in the most carbon-intensive value chains (manufacturing, commodities, and heavy industry), and grow its team.
Led by CEO Adam Hearne, CarbonChain empowers companies to make climate-conscious decisions to accelerate action toward a net-zero economy. Its AI-powered carbon accounting platform automates emissions tracking with accurate, granular, asset-level data for carbon-intensive supply chains, including metals, mining and manufacturing. Its methodology V0.94 has been validated by SGS and verified by Bureau Veritas for manufacturers, commodity traders, financiers and freight firms to unlock unrivaled insight into carbon-related risks and opportunities in near real-time.
Customers include thyssenkrupp Materials Services Eastern Europe, Societe Generale, Rabobank, Concord Resources, IXM, and Gunvor, among others.
CarbonChain was part of the Y Combinator Summer 2020 cohort.
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