Deeptech startup ALT CARBON raises $12 Mn in seed round

Deeptech startup ALT CARBON has raised $12 million (about Rs 102.8 crore) in a seed funding round led by Lachy Groom along with participation from Shastra VC and other angel investors such as  Jason Zhao, Amrendra Singh, Tanmay Bhat, Arjun Soin, Nakuul Mehta, Arjun Ramani, Advaith Vishwanath and Rahul Seth.

Alt Carbon’s cofounder Shrey Agarwal announced the funding round in a LinkedIn post.

The fresh funds will be allocated towards building new projects which enable carbon dioxide removal (CDR) across South Asia and  spending on research and development, ALT CARBON said in a press release.

Founded by Shrey and Sparsh Agarwal in 2023, ALT CARBON helps farmers and scientists in utilising dormant lands as carbon removal sinks. It aims to leverage technologies like Enhanced Rock Weathering in making South Asia a hub for CDR.

With this round, the Bengaluru-based startup plans to  improve its science, conduct advanced R&D, collect high quality data, and create Machine Learning models that accelerate its operations. Its flagship project, the Darjeeling Revival Project (DRP), aims to revive degraded soils, restore livelihoods, and rebuild ecosystems in Darjeeling, India. 

ALT CARBON aims to  remove 5 million metric tons of CO2 by 2030 and become a leader in CDR in South Asia. The startup collaborates with local agricultural communities and organizations like Frontier and Shopify. ERW not only removes CO2 but also improves soil health, potentially boosting crop yields and supporting local livelihoods.