CNaught, a trailblazing decarbonization company, has secured a pre-seed investment of $2.25 million for their science-based carbon credits. This funding round was led by Greycroft, a prominent venture capital firm, with participation from Carthona Capital, Longrun Capital, and several angel investors.
CNaught is paving the way in the carbon credit market by being the first company to offer science-based and trust-centered carbon credits. Their approach distinguishes them from traditional carbon credit sellers, as their credits are backed by rigorous scientific research and transparent methodologies.
While the voluntary carbon credit market is projected to grow to $50 billion by 2030, it also faces challenges due to its opaqueness, confusion, and inconsistency.
Buyers are hesitant to purchase credits that may underperform, as it leaves them vulnerable to lawsuits and public criticism. This poses an issue for businesses that have publicly-reported sustainability goals to achieve.
By prioritizing trust and science, CNaught aims to provide reliable and effectively measured carbon credits to businesses and individuals seeking to mitigate their carbon footprint.
Since its launch in April 2023, CNaught has experienced tremendous growth as a company. With a mission to help combat climate change via trustworthy carbon credits, the company has already successfully retired over 10,000 tonnes of carbon credits on behalf of its customers.
This achievement is remarkable considering the relatively short period since the company’s inception. The company aims to build on its current momentum and expand its sales outreach globally, reaching out to enterprises of all sizes. This expansion will allow CNaught to help more customers and offer its carbon-offsetting services to a wider audience.
The pre-seed investment will fuel CNaught ‘s growth and enable them to further develop their technology, expand their client base, and meet the increasing demand for sustainable solutions.