Terms
- Announced
- 19 Jul 2023
- Instrument
- Equity
- Amount
- US$25.0mReported as US$25m seed
- Source
- esgtoday.com
Parties
- Project developer
- Isometric
- Recipient type
- Marketplace
- Country
- United Kingdom
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis Lowercarbon Capital Lead investor US$12.5m Estimated: an even share, 1 of 2 Plural Lead investor US$12.5m Estimated: an even share, 1 of 2
Carbon
- Pathway
- Carbon market infrastructure
- Project type as recorded
- Carbon removal registry and certification platform
Structure and cover
- Structure flag
- Intermediary / platform equity
What happened
- Seed round of US$25m co-led by Lowercarbon Capital and Plural, with Niklas Zennstrom, David Helgason, Ross Mason and Ilkka Paananen investing as individuals. Funded the launch of the Science Platform and the registry that followed later in 2023. UK coverage reported the same money as GBP 19m.
Kumo note
- The round that built the registry. Isometric was founded on the argument that the carbon market failed because the people checking the work were paid by the people doing it, so buyers pay here instead. Three years later the operator of the New York Stock Exchange bought into the same company at EQ-144.
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