Alt Carbon Secures $12 Million Seed Funding From Lachy Groom And Other Investors

Alt Carbon, a climate tech startup, has raised $12 million in seed funding to enhance its carbon removal initiatives throughout India. The company focuses on enhanced rock weathering—utilizing waste basalt dust combined with organic ingredients on farmlands to sequester CO₂ and improve soil quality and crop outputs.

Summary of transaction details:

• Deal Type: Seed
• Transaction Amount: $12,000,000
• Founders: Sparsh Agarwal, Shrey Agarwal
• CEO: Sparsh Agarwal
• Notable Investors: Lachy Groom, Frontier, Stripe, Alphabet, Meta, Shopify, McKinsey, NextGen, BCG Group, Swiss RE, LGT, UBS, MOL Group

Originally inspired by their efforts to rescue a struggling family tea estate in Darjeeling, the Agarwals have broadened Alt Carbon’s reach to include rice and bamboo farms in North Bengal. The company aims to achieve the removal of 5 million tons of carbon by 2030, supported by a coalition of strategic buyers which includes major enterprises like Stripe and Meta.