CarbonHQ is developing a digital platform to process on-ground data, automate issuance workflows and link carbon credits to their underlying data to improve transparency and efficiency. Since releasing a beta in mid-2023 the company has run trial projects with leading carbon project developers globally and won a UN carbon market Digital Innovation Challenge. CarbonHQ is targeting the $3 billion voluntary carbon market, which has grown roughly 30% annually since 2015, and aims to help buyers better assess credit quality. The startup says carbon project development is still using Excel, PDFs and email, creating lengthy (up to three-year) setup and issuance processes and exposure to low-quality or scam credits. Some studies cited in the reporting suggest as little as 12% of offsets sold result in real emissions reductions, underscoring the need for better tooling. CarbonHQ will use the $600,000 pre-Seed funds for market expansion and team growth. Founders Allen Fan and Eugene Datsky cofounded the company in 2022; Fan has experience in carbon project development and Datsky previously led engineering teams at Canva and other companies.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Feb 2024