Just a few years ago, DAC technology existed exclusively on a lab bench. This year the industry raised over $1 billion in VC funding, with over 50 funded startups in existence.
While there are still technological hurdles to overcome to bring CDR to scale, funding also needs to be diversified and innovated, something we’ve discussed before on this show.
Tech money continues to pour into CDR. Just this week, two large new funding mechanisms for CDR companies have been announced.
Terraset is a new philanthropy that aims to fill CDR’s ‘funding gap.’ They aim to pool $1 billion by 2030 to fund startups directly. Early announced funders are Tim Ferriss and Segment co-founder Calvin French-Owen.
Propellor is a new VC fund that announced its first seed round of $100 million to invest in ocean-based climate tech.
We’ll discuss both announcements with our regular business panel, Susan Su and Na’im Merchant.
