Latest news with #AltCarbon
Hindustan Times
5 days ago
- Business
- Hindustan Times
Time to rethink capital for sustainability
India's emergence as the world's fourth-largest economy reflects strong domestic demand and a rapidly growing entrepreneurial landscape. However, this growth is occurring against a backdrop of mounting environmental pressures. Air pollution levels in major cities routinely exceed safe limits, over 3,500 landfills dot urban India (CPCB, 2022), and increasingly erratic climate events threaten food and water security. The need to transition to a more resource-efficient, low-carbon economy is no longer a matter of debate, but of urgency. Tech-led innovation will be central to India's circular transition. From alternative materials and clean manufacturing to waste-to-value solutions, climate-tech solutions offer scalable pathways to decarbonise industries and strengthen climate resilience. However, many of these innovations do not conform to conventional investment frameworks. Traditional ROI models prioritise near-term financial returns and proven markets. In contrast, climate-tech ventures often require longer gestation periods, operate in nascent ecosystems, and deliver multi-dimensional returns--economic, environmental and social. To bridge the gap between innovation and implementation, India needs more catalytic capital; funding that is flexible, risk-tolerant, and impact-oriented. This is especially critical for early-stage climate-tech enterprises that operate in complex, unstructured markets. Consider Brisil Technologies, which upcycles rice husk ash, an agri-waste by-product known for exacerbating PM levels into high-purity green silica for use in rubber and paints. Or altM, which converts agricultural residue into renewable feedstock for chemical manufacturing, replacing the use of petrochemicals. Another case in point is Alt Carbon, whose enhanced rock weathering solution addresses the need to permanently remove atmospheric carbon. While the markets that these innovations operate in are still maturing, the long-term environmental value is significant. These are compelling business models that solve for national priorities while representing the frontier of India's circular economy, and investors backing such ventures must be prepared for non-linear growth trajectories and long-term capital commitment. Beyond just venture capital, blended finance models, milestone-based grants, and anchor investments from development finance institutions (DFIs) can help unlock scale. To accelerate India's circular economy transition, capital allocation must evolve along five key lines: India's path to net-zero by 2070 will require more than technology; it will require an investment architecture that recognises and rewards circular, regenerative models. The circular economy is not just an environmental imperative, it is an economic one. Bringing circularity into the mainstream isn't just about cutting emissions or reducing waste, it's about reshaping India's growth trajectory. According to the MoEFCC, a circular economy could unlock a market opportunity exceeding $2 trillion by 2050 and create ~10 million additional jobs. This article is authored by Alankrita Khera, director, and Sruthi Shanmugam, lead, ACT For Environment.
Entrepreneur
23-05-2025
- Business
- Entrepreneur
Alt Carbon Bags USD 12 Mn to Power Carbon Removal Innovation
The fresh funds will be deployed to accelerate carbon dioxide removal across the Global South, deepen earth sciences R&D, advance hardware innovations, and scale up its on-ground operations, especially in India. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Alt Carbon, a Bengaluru-based deeptech startup, has raised USD 12 million (approximately INR 102.8 crore) in a seed funding round led by Lachy Groom, with participation from Shastra VC and a host of angel investors including Jason Zhao, Amrendra Singh, Tanmay Bhat, Arjun Soin, Nakuul Mehta, Arjun Ramani, Advaith Vishwanath, and Rahul Seth. Founded in 2023 by Shrey Agarwal and Sparsh Agarwal, Alt Carbon is on a mission to transform dormant lands into carbon removal sinks through cutting-edge climate technologies. The fresh funds will be deployed to accelerate carbon dioxide removal across the Global South, deepen earth sciences R&D, advance hardware innovations, and scale up its on-ground operations, especially in India. "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," said Lachy Groom, investor and Co-founder of Physical Intelligence. Alt Carbon's core technology hinges on Enhanced Rock Weathering (ERW)—a scientifically robust process where waste basalt rock dust is spread on farmlands. This dust reacts with rainwater, capturing atmospheric CO₂ and converting it into stable bicarbonates that are stored in soil and oceans for millennia. Not only does ERW sequester carbon, but it also enriches soil fertility and enhances crop yields, delivering a dual benefit to farmers and the planet. In just 18 months, the Alt Carbon team has established a world-class lab, developed proprietary modeling tools, and laid the groundwork for a new era of agricultural and environmental infrastructure. "Enhanced Rock Weathering is one of the most promising, permanent carbon removal pathways we have, and yet it's vastly underbuilt," said Shrey Agarwal. "We're building advanced labs and engineering the scientific backbone of a new era of climate action grounded in the Global South." Their flagship initiative, the Darjeeling Revival Project, exemplifies this vision. It combines large-scale carbon removal with ecological restoration, soil rejuvenation, and the revival of tea-based livelihoods in one of India's most vulnerable regions. Alt Carbon aims to remove 5 million metric tons of CO₂ by 2030 and become South Asia's carbon removal leader. By collaborating with local farming communities and global partners like Frontier and Shopify, Alt Carbon is building a resilient, data-driven approach to climate action—one that puts science, soil, and sustainability at the heart of its mission.
Arabian Post
22-05-2025
- Business
- Arabian Post
Alt Carbon Secures $12M to Advance CO₂ Removal in South Asia
Greenlogue/AP Alt Carbon, a climate-tech startup based in Bengaluru, has raised $12 million in seed funding to expand its carbon dioxide removal operations across South Asia. The funding round was led by Lachy Groom, co-founder of robotics AI firm Physical Intelligence, with participation from existing investors including Shastra VC and ACT Capital Foundation. Founded by siblings Shrey and Sparsh Agarwal, Alt Carbon employs enhanced rock weathering to sequester atmospheric CO₂. This process involves spreading finely ground basalt rock dust over agricultural fields, where it reacts with rainwater to form stable bicarbonate ions, effectively locking away carbon for millennia. The method also enriches soil fertility and boosts crop yields, offering a dual benefit to farmers. ADVERTISEMENT The company's journey began in May 2020 when the Agarwal siblings returned to their family's tea estate in Darjeeling, which was facing bankruptcy. This visit inspired the inception of Alt Carbon, officially launched in late 2023. The startup initiated its pilot project on 500 acres of the family estate, later expanding to rice and bamboo farms in North Bengal. Alt Carbon now aims to scale its operations to 500,000 hectares, with a target of removing 5 million metric tons of CO₂ by 2030. Alt Carbon's approach has garnered international attention. The company secured a strategic partnership with Mitsubishi Corporation to scale ERW, marking a significant collaboration between Japanese and Indian entities in climate action. Additionally, Alt Carbon signed an offtake agreement with MOL Group to supply 10,000 tonnes of carbon removal credits, the first such deal between a Japanese and Indian company in the ERW sector. The startup's credibility was further bolstered when it became the first India-headquartered company selected by Frontier, a $1 billion advance market commitment backed by Stripe, Alphabet, Meta, Shopify, and McKinsey, to scale permanent carbon removal. Alt Carbon also received an offtake agreement from the South Pole and Mitsubishi-led NextGen buyer's coalition, underscoring its position in the global CDR landscape. To support its ambitious goals, Alt Carbon has strengthened its leadership team. Yashovardhan Bhagat, former co-founder of ed-tech platform Seekho, has been appointed Chief Operating Officer to oversee the scaling of operations across India. Adithya Venkatesan, with experience at Gojek, Meesho, and Last9, will lead the in-house Climate Studio, while Dr. Sourav Ganguly, a PhD from the Indian Institute of Science, Bangalore, will head the science and modelling team.
Yahoo
22-05-2025
- Business
- Yahoo
Alt Carbon scores $12M seed to scale carbon removal in India
From a struggling family tea estate to an innovative climate venture, Alt Carbon has raised $12 million in a seed round as it plans to scale its carbon dioxide removal work in the South Asian nation. The climate-tech startup, which locks away carbon for thousands of years through enhanced rock weathering on farmlands, attracted investment led by Lachy Groom, the co-founder of the robotics AI company Physical Intelligence. The journey began May 2020 with a bittersweet homecoming. Siblings Shrey and Sparsh Agarwal drove 16 hours from the eastern state of Kolkata to Darjeeling — a city known for tea farming in the leafy foothills of the Himalayas — expecting to bid farewell to their family's tea estate, Selim Hill, which was facing bankruptcy. Instead, that farewell visit planted the seeds for Alt Carbon, which they officially launched in late 2023. Initially, they explored carbon markets as a way to revive their family business and support other tea estates in the region by generating supplementary income. But during their exploration, they discovered enhanced rock weathering as an approach that could transform Darjeeling's legacy from being at risk of climate change impact to a frontier of climate action. "Within carbon markets, our realization was that a lot of the projects in India, which are more avoidance-based, are of very low quality, and they produce junk credits," Sparsh said in an exclusive interview. Last year, Alt Carbon started its pilot around the Agarwals' family tea estate on about 500 acres of land, which they later scaled up in North Bengal, expanding their scope from tea farms to those of rice and bamboo. The startup aims to expand to 500,000 hectares of land. By 2030, the startup aims to remove 5 million tons of carbon from the region, Sparsh told TechCrunch. Alt Carbon deploys enhanced rock weathering using waste basalt rock dust from mines and quarries in the volcanic igneous province of Rajmahal Traps, located in Eastern India. The rock dust, a waste product from the construction industry, is spread on farm fields where it reacts naturally with rainwater to remove carbon dioxide and add micronutrients to the soil to improve its fertility and health and enhance crop yields. When rainwater containing carbon dioxide interacts with basalt dust, it forms stable bicarbonate ions. These are stored in the soil and eventually flow through rivers to the ocean, where they settle as calcium carbonate, locking away carbon for over 10,000 years. For transporting the specialized dust from source locations to farm fields, the startup relies on rails and diesel trucks and pays for one-way fares as these sources are part of the tea industry's freight transportation system. The startup also avoids emissions from dedicated rock processing by relying on the waste basalt from existing mining and crushing operations. Instead of using the basalt dust alone, the startup has developed a proprietary combination of basalt with other organic ingredients, which it calls Hari Maati (green soil in Hindi), to convince farmers to spread it on their farmlands. Alt Carbon estimates its carbon credits at $270 per metric ton, which Sparsh said is significantly cheaper than direct air capture credits that, he believes, cost roughly $800 a ton. However, he expects the startup to reduce costs within 36 to 48 months. The startup relies on three layers of measurements to understand how much rock is getting weathered and how much carbon is being removed, Shrey told TechCrunch. It begins with measurements to track weathering progress and then moves to measuring water within the soil, groundwater sampling, and river monitoring. The third layer uses proprietary reactive transport models that help track ions transported from the soil to water bodies. The startup also uses machine learning-driven modeling to get carbon removal numbers. Alt Carbon says its models adhere closely to methodologies set by carbon removal registries, including Isometric and They have also received approvals from intergovernmental organizations, including SBTi, ICVCM, and CORSIA. The startup has its labs in Darjeeling and Bengaluru and employs 8 to 10 PhDs, with an overall headcount of 25 employees. It aims to scale these labs and expand its work by doing more soil sample analysis and even setting up a hardware studio for better, high-quality data collection on the ground, using remote sensing. The startup also plans to deploy sensors on the ground to get more insights at a lower cost and in a faster time. All this will come through that seed round led by Groom. Last year, the startup secured a $500,000 pre-purchase by Frontier, and a $1 billion advanced market commitment led by Stripe, Alphabet, Meta, Shopify, and McKinsey. It also recently signed a strategic partnership with a buyer coalition, NextGen, started by South Pole and Mitsubishi Corporation, to scale its enhanced rock weathering. The group also included BCG Group, Swiss RE, LGT, and UBS among its members. Last month, the startup signed an offtake agreement with Japan's shipping company, MOL Group, to purchase 10,000 tons of carbon removal credits. Alt Carbon will deliver its first carbon credits in less than a month through Isometric, Sparsh said.
Yahoo
22-05-2025
- Business
- Yahoo
Alt Carbon raises $12 million seed round to scale Carbon Removal (CDR) in the Global South
Alt Carbon raises $12 million seed round $12 million seed will be the largest funding round for climate tech in India Funding round led by Lachy Groom with participation from existing investors To accelerate investments in CDR, Earth Sciences R&D and advanced hardware San Francisco and Bangalore, May 21, 2025 (GLOBE NEWSWIRE) -- : Alt Carbon, a deep-tech science & data company, announced a $12 million seed funding round to build the agricultural infrastructure for climate action. The investment will help accelerate Carbon Dioxide Removal (CDR) in the Global South and expand Earth Sciences R&D, advance hardware innovations, and scale-up operations for durable climate action in India. The round was led by Lachy Groom, with participation from existing investors. This marks the largest seed round for climate tech in India, underscoring the novelty of the technology, growing demand for removal-based carbon credits, and the burgeoning opportunity for India to become the world's frontier for climate action. '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. 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,' said Lachy Groom, Investor and Co-founder of Physical Intelligence. Alt Carbon uses a novel carbon removal method called Enhanced Rock Weathering (ERW), which involves sourcing waste basalt rock dust from mines and spreading it across agricultural fields. This volcanic rock not only improves 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 that are 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. Alt Carbon's flagship initiative, The Darjeeling Revival Project (DRP), is a first-of-its-kind effort to unite climate action with cultural and ecological restoration. With an ambitious goal to remove carbon dioxide at scale, the DRP aims to not just remove CO₂ but also restore livelihoods, revive degraded soils and ecosystems, and preserve India's most valued export: Darjeeling's tea. The project represents a new model for climate action — one that's rooted in science, powered by community, and driven by the belief that revivals require ambition and audacious bets. '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. 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,' said Co-founder & CEO Shrey Agarwal, Alt Carbon. In just the last two months, Alt Carbon signed two landmark agreements that signal a new chapter in climate collaboration between Japan and India. A strategic partnership with Mitsubishi Corporation marked a first of its kind framework for scaling Enhanced Rock Weathering (ERW) — a strong vote of confidence in both the science and Alt Carbon's execution. This was followed by a historic offtake agreement with MOL Group to purchase 10,000 tonnes of carbon removal credits — the world's first direct CDR offtake by a shipping company for ERW, and the first such deal between a Japanese and Indian company. Together, these partnerships not only validate ERW as a credible, scalable climate solution, but also mark the emergence of a robust Japan–India business corridor rooted in science-led, cross-border climate action. Alt Carbon has also received early catalytic support from ACT, a leading non-profit philanthropy platform, and participation from existing investors and leading angels, including Shastra VC, Jason Zhao (Co Founder, PIP Labs), Awais Ahmed (Co Founder, Pixxel Space), Amarendra Singh (Co Founder, DeHaat), among others. Nine months ago, Alt Carbon made history as the first India-headquartered company to be selected by Frontier, a $1 billion Advance Market Commitment backed by Stripe, Alphabet, Meta, Shopify, and McKinsey — to scale permanent carbon removal. Alt Carbon also became the first ERW company globally to receive an offtake agreement from the South Pole & Mitsubishi-led NextGen buyer's coalition. Alt Carbon also announced the appointment of Yashovardhan Bhagat (former co-founder of ed-tech platform Seekho) as Chief Operating Officer to scale its carbon removal operations across India, Adithya Venkatesan (former brand head at Gojek, Meesho and Last9) to lead the in-house Climate Studio, and Dr. Sourav Ganguly (PhD, Indian Institute of Science, Bangalore) to lead the science & modelling team. '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,' said Co-founder & President, Sparsh Agarwal. He added, 'We thank the partners who have joined us in this ambitious, whirlwind journey, to revive Darjeeling, remove CO₂ and undo the clock for this planet.' - Notes to the editorFor further information please contact the Alt Carbon press office: Adithya Venkatesan on adithya@ Media images About Alt CarbonAlt Carbon is a deeptech science and data company, building agri infrastructure for climate action. We aim to make South Asia a hub for Carbon Dioxide Removal (CDR) through technology pathways like Enhanced Rock Weathering. We work with farmers and scientists in the Global South, to turn underutilized land into carbon sinks. Our flagship initiative, the Darjeeling Revival Project (DRP), is a first-of-its-kind effort to unite climate action with cultural and ecological restoration — by reviving degraded soils, restoring livelihoods, and rebuilding ecosystems. We're rooted in science, powered by community, and driven by the belief that revivals require ambitious people and audacious bets. Our mission is to remove 5 million metric tons of CO₂ by 2030. For more information please visit or follow us via LinkedIn or X About Lachy GroomLachy Groom has invested in over 200 companies including Anduril, OpenAI, Ramp, Notion, Figma, and Zepto. Lachy was previously an early employee at Stripe where he helped scale the company to over 2,500 employees. During his time there he led several teams, including Core Payments, Financial Partnerships, Stripe's expansion into the Asia Pacific, and Stripe Issuing. Lachy is also one of the six co-founders of Physical Intelligence. About ACTACT Capital Foundation is an Indian venture philanthropy platform that believes that an entrepreneurial mindset, technology and innovation and collective action have the power to create meaningful impact at scale. Driven by a bias for action, ACT funds and supports tech-first innovations that can address India's most critical social need gaps at scale through capital, connections and collectives. "ACT's belief in backing tech-first innovations has helped lay the groundwork for Alt Carbon's first field deployments and validate the efficacy of ERW to remove carbon at scale. Philanthropic capital reflects a shared commitment to help the country meet its decarbonisation goals by accelerating climate solutions that are rooted in local realities and scalable across the Global South," said Alankrita Khera, Director, ACT. Attachment Alt Carbon raises $12 million seed round CONTACT: Adithya Venkatesan — adithya@ in to access your portfolio
