Supercritical, a carbon removal marketplace primarily targeting tech companies aiming for “net zero” emissions, has secured $13 million in Series A funding led by Lightspeed Venture Partners. The round includes funding from RTP Global, Greencode Ventures, MMC Ventures, and others. The startup aims to aggregate business demand for advanced carbon removal technologies, providing companies with access to innovative solutions that go beyond traditional methods like forest planting. Supercritical’s marketplace allows companies to purchase “fully-vetted and qualified” carbon removal credits up to the industry standard set by the Science Based Targets initiative. The funding will be utilized to scale the offering to tech companies, with plans to expand to other industries as every company worldwide needs to achieve net zero emissions. Notable clients of Supercritical include Tide, XTX Markets, Veriff, Multiverse, and IMC. The market for carbon removal startups is growing, with companies like CUR8 also focusing on driving demand and finance for carbon removal projects. These developments highlight the UK’s leadership in carbon pricing and regulation.
