Living Carbon, a San Francisco, CA-based climate biotech company developing plants that capture and store more carbon, raised $21M in Series A funding.
The round, which brought total funding secured to date to $36M, was led by Temasek, with participation from Lowercarbon Capital, Toyota Ventures, and Felicis Ventures.
The company intends to use the funds to accelerate deployment of its photosynthesis-enhanced trees, grow its team and expand its work on bio-engineered climate solutions.
Led by CEO Maddie Hall, Living Carbon is a public benefit company with a mission to responsibly balance the planet’s carbon cycle using the inherent power of plants. Starting with photosynthesis-enhanced trees, the company is demonstrating the promise of advanced biotechnology to restore ecosystems, improve biodiversity, and enhance the ability of photosynthetic organisms to remove carbon from the atmosphere. Living Carbon is on track to supply 4-5 million seedlings throughout the US in 2023-2024. The seedlings will be available for companies to purchase to reduce their carbon footprint alongside Living Carbon’s carbon quantification and monitoring. The company is also developing carbon projects with photosynthesis-enhanced hybrid poplar and loblolly pine in mixed stand plantings that can help restore degraded ecosystems. Living Carbon is partnering with landowners to develop carbon projects in Pennsylvania and Georgia.
FinSMEs
17/01/2023