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2 October, 2023 - 17:02 By Tony Quested

Carbon13 launches £2.4m fund to support climate technology visionaries

A Cambridge based venture builder investing in climate technology has launched its most significant round to date with a total of £2.4 million of funding being deployed.

Carbon13 – born out of the Cambridge UK tech ecosystem – is investing by way of an LP Fund, which has received the commitment of 15 institutions and individuals dedicated to supporting early-stage climate tech entrepreneurs.

The startups are united by Carbon13’s foundational target pledge of being able to mitigate 10 million tonnes of CO2e per year at scale.

A total of 21 new startups will receive the funding – bringing the total number to 65 climate tech ventures backed by Carbon13 since 2021.

Ventures backed to date showcase the range of possibilities in climate innovation – from computer vision and robotics for recycling (Danu Robotics), AI powered garment manufacturing (Pattern Project), digital twins to reduce building energy consumption (Optimise-AI), to micro hydro turbines (Pulse), CO2 capture in steel manufacture (Cocoon Carbon), and bio-manufacture to decarbonise fuels (Deep Blue Biotech).

Previous investments and startups launched by Carbon13’s programmes include Earthshot2023 nominated Kita (world’s first carbon insurer), Tierra Foods (also Earthshot nominated 2023, natured based CDR), plus Materials Nexus (AI powered materials discovery), and Nium (green ammonia, replacing Haber-Bosch).

The Cambridge-gated investor is already globally influential. It has expanded its Venture Builder programme from the UK to Germany and launched an accelerator, the Venture Launchpad. The expansion has been fuelled by the increasing level of interest in the Carbon13 approach.

As a result, Carbon13 has run three concurrent programmes over the course of 2023 with more than 200 individuals participating in over 75 ventures.
The current crop of 21 handed the keys to the investment and mentoring door have been subject to a rigorous analysis of both the financial return and the carbon credibility of each venture.

Carbon13 co-founder Dr Nicky Dee says: “At Carbon13 we believe in entrepreneurs to re-imagine what is possible, the power of innovation to re-invent the rules and the art of the venture studio to accelerate startups. This is exactly what we need in order to robustly and productively deliver Net Zero.

“Our latest round of investments shows how new ventures can prompt stakeholders to reimagine what is possible – from mobility to carbon utilisation, the built environment and beyond.

“Creativity is prompted by constraints. In my opinion now is not the time for policy to loosen those constraints. We need to get on with scaling up innovation and addressing a critique that has befallen the UK for years – a lack of vision.”

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