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CDS Startups Carbon Tracker Carbonable Raises $1.2M

Startups

Carbon Tracker Carbonable Raises $1.2M

ali00926/03/20231 Mins read401

Carbonable, a startup using the Ethereum public blockchain, has raised $1.2 million in a seed round led by Ethereal Ventures and La Poste Ventures.

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Carbon Tracker Carbonable Raises $1.2M

Carbonable uses the Ethereum scaling overlay from seed round investor Starkware to monitor the lifecycle of carbon credits, from project selection to carbon credit monitoring, issuance, and retirement.

Tokenization, tracking and trading of carbon credits is an ever-expanding area of infrastructure growth, rarely heard of anyone actually using blockchain technology to do anything useful.

“This is a very immature market, which has some major flaws at the moment. There’s a big lack of trust and transparency as well as an upcoming supply crunch in good quality carbon credits. We enable companies to drive their climate contributions using blockchain as the glue and including other tech like satellite imagery and artificial intelligence.” – said Сarbonable co-founder Guillaume Leti in an interview.

Source

www.coindesk.com

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The author is 28 year old student recently graduated from Celal Bayar University, Faculty of Medicine. Currently he works as a writer and translator for different platforms.

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