A London startup called Isometric is launching today with $25 million, one of the largest seed rounds this year for a climate startup.
Lowercarbon Capital and Plural are the co-investors in this round, alongside Niklas Zennström (Skype’s co-founder and founder of the VC Atomico), David Helgason (founder of Unity Technologies), Ross Mason (founder of MuleSoft) and Ilkka Paananen (founder of Supercell).
Isometric will use the funding both to hire more scientists and technologists and to work on its products. Chief among them is a carbon removal registry to provide data to enterprises, looking to buy removal credits, to the various startups building that technology. Isometric claims it will be the first registry for “high-quality, long-duration” carbon removal credits.
It is also launching a “science platform,” which will provide a way for carbon removal companies to publish and share their data with those interested in seeing it.
Some of the first carbon removal startups on Isometric will include Charm Industrial (a specialist in bio-oil sequestration); Eion (focusing on rock weathering); Planetary (an ocean alkalinity enhancement company), and Brilliant Planet (a microalgae burial company).
Eamon Jubbawy, the founder and CEO of Isometric, said that Isometric is addressing a specific gap that has been identified in the market.
“I was looking at carbon markets and how badly they work,” he said in an interview with TechCrunch, and he saw how thinking was starting to shift around them, and the belief that “there was more drastic change needed.”
“The carbon registries that existed missed the mark so badly that the only real option was to build another platform to fix all that, focused on removal,” he said to TechCrunch.
