Flowcarbon, a blockchain-focused startup co-founded by former WeWork CEO Adam Neumann, has raised $70 million to build a blockchain-based carbon credit marketplace.
The funding round, which has included venture capital funding and a private token sale, was reportedly led by Andreessen Horowitz.
Notably, other investors in the round include General Catalyst, Samsung Next, Invesco Private Capital and other investors, while participants in the token sale have included Fifth Wall, Box Group and Celo Foundation.
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According to the company:
"Flowcarbon's mission is to direct billions of dollars directly to projects that reduce or eliminate carbon emissions from the atmosphere by creating the first open protocol for tokenizing certified carbon credits worldwide."
The startup will offer project developers direct access to the marketplace of buyers interested in their loans via blockchain.