Terms
- Announced
- 20 Apr 2023
- Instrument
- Equity
- Amount
- US$22.0mReported as US$22m Series A (US$20m announced April 2023; CZI and Propeller joined later)
- Source
- businesswire.com
Parties
- Project developer
- Ebb Carbon
- Country
- United States
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis Prelude Ventures Lead investor US$3.14m Estimated: an even share, 1 of 7 Evok Innovations Lead investor US$3.14m Estimated: an even share, 1 of 7 Congruent Ventures Investor US$3.14m Estimated: an even share, 1 of 7 Grantham Foundation Investor US$3.14m Estimated: an even share, 1 of 7 Incite.org Investor US$3.14m Estimated: an even share, 1 of 7 Chan Zuckerberg Initiative Investor US$3.14m Estimated: an even share, 1 of 7 Propeller Investor US$3.14m Estimated: an even share, 1 of 7
Carbon
- Pathway
- Ocean alkalinity / marine CDR
What happened
- $23m including seed
Kumo note
- Ebb Carbon’s Series A was raised across two closes, the second at a higher valuation within weeks of the first. At USD 20m it was, on the company’s own account, the largest single equity round into ocean-based carbon removal at the time.
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