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- CarbonCapture
CarbonCapture Funding, Investors & Competitors
CarbonCapture has raised $115M across 2 funding rounds, most recently a $80M Series A in March 2024.
Last CarbonCapture funding round
$80M
Series A · Mar 2024
Cumulative funding CarbonCapture raised
$115M
across 2 funding rounds
Key investors in CarbonCapture
Alumni Ventures
Prime Movers Lab
Time Ventures
Lightbank
Siemens
Neotribe Ventures
Aramco Ventures
Climate Pledge Fund
About CarbonCapture
CarbonCapture is a climate technology provider of modular direct air capture systems that extract CO2 from ambient air using molecular sieves powered by low-cost renewables. Its machines deliver scalable, cost-effective carbon removal tailored for industrial sites and remote locations. Headquartered in Los Angeles, California, the company has secured contracts for gigaton-scale deployments and partnerships with energy firms to integrate DAC into net-zero strategies.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
CarbonCapture Funding History
CarbonCapture has raised a total of $115M across 2 funding rounds.
CarbonCapture's first fundraising round was a $35M Series A in October 2021. The most recent completed round was a $80M Series A in March 2024.
CarbonCapture funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2024 | Series A | Prime Movers Lab (lead); IdealabX; Alumni Ventures; Siemens; Climate Pledge Fund; Time Ventures; Neotribe Ventures; Aramco Ventures | $80M | CarbonCapture Inc. is a U.S.-based direct air capture (DAC) company developing modular, scalable solid sorbent systems using patented open systems architecture to capture CO2 from the atmosphere. The company announced the closing of an $80 million Series A financing round on March 12, 2024, led by Prime Movers Lab, with participation from strategic investors including Amazon's Climate Pledge Fund, Aramco Ventures, and Siemens Financial Services, alongside Idealab X, TIME Ventures, Neotribe Ventures, Alumni Ventures, and others. Proceeds will fund further technology development and early field installations of its DAC systems. CarbonCapture has achieved commercial traction, securing over $26 million in pre-sold carbon removal credits to major corporations such as Microsoft, Alphabet, Meta, Stripe, Shopify, McKinsey & Company, Boston Consulting Group, and JPMorgan Chase & Co. The company is advancing projects like Project Bison in Wyoming with Frontier Carbon Solutions, aiming for 5 million tons of annual CO2 capture capacity by 2030 through phased development. Offtake agreements include deals for over 55,000 tons of CO2 removal announced in the prior year with Microsoft, BCG, and Amazon. CarbonCapture previously raised $35 million in an initial Series A tranche in October 2021 from Prime Movers Lab, Rio Tinto, Idealab Studio, and TIME Ventures. The company, founded around 2019-2020 and headquartered in the Los Angeles area, positions itself as a leader in cost-effective DAC through upgradeable modular designs that allow sorbent improvements without full facility rebuilds. |
| Oct 2021 | Series A | Prime Movers Lab (lead); Lightbank; Rio Tinto; Idealab; Alumni Ventures; Time Ventures | $35M | CarbonCapture Inc., a Pasadena, California-based climate tech company founded at Idealab Studio by serial entrepreneur Bill Gross, develops renewable-powered, modular Direct Air Capture (DAC) machines using zeolites to remove CO2 directly from the atmosphere. The company focuses exclusively on negative emissions applications, enabling large arrays of systems for massive CO2 removal, and does not apply its technology to smokestack emissions or fossil fuel production. On October 19, 2021, CarbonCapture closed a $35 million Series A funding round led by Prime Movers Lab, with participation from Rio Tinto, Idealab Studio, Idealab X, Marc Benioff’s TIME Ventures, Alumni Ventures, Lightbank, and several other VC firms and family offices. This brought total equity financing since inception to over $43 million. The funds were allocated to accelerate product development and establish initial deployments of DAC systems across the U.S., starting with the Tamarack Nickel Project in central Minnesota in partnership with Rio Tinto and Talon Metals. The appointment of Adrian Corless, former CEO of Carbon Engineering, as CEO was announced alongside the round, bringing industry expertise in DAC piloting and commercial scaling. Prime Movers Lab highlighted CarbonCapture's potential to lead in a future $500 billion DAC industry capturing 5-10 gigatons of CO2 annually by 2050. Subsequent developments include an $80 million Series A extension in March 2024, led by Prime Movers Lab with new strategic investors like Amazon's Climate Pledge Fund, Aramco Ventures, and Siemens Financial Services, plus earlier participants. By 2024, the company had pre-sold over $26 million in carbon removal credits to major firms including Microsoft, Alphabet, Meta, and Stripe. A later $400 million Series C in September 2025 reached a $4.2 billion valuation, bringing total funding to $580 million. |
Who has invested in CarbonCapture?
11 investors have backed CarbonCapture across its funding rounds, including Alumni Ventures, Prime Movers Lab, Time Ventures, Lightbank, Siemens and Neotribe Ventures.
Lead investors include Prime Movers Lab.
CarbonCapture Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Oct 2021 | ||
| 2 | Participant | Oct 2021 | ||
| 2 | Participant | Oct 2021 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Mar 2024 | ||
This data is available for Pro users. Sign up to see all 11 CarbonCapture investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialCarbonCapture Competitors
CarbonCapture competitors include listed companies like Vistra and First Solar, and private ones like Clean Planet, Electra, Climeworks and Amogy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.2B | - | ||
| Private | - | - | $1.2B | - | ||
| Private | - | - | $1.1B | - | ||
| Private | - | - | $700M | - | ||
| Publicly listed | $18B | $5B | $48B | 3.3x | ||
| Publicly listed | $5.2B | $2.1B | $22B | 4.0x |
CarbonCapture Public Comps
CarbonCapture is still privately-owned, but its public comps include Aramco, ExxonMobil, Chevron, PetroChina, Shell, TotalEnergies, NextEra Energy, ConocoPhillips, Iberdrola and CNOOC.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $446B | $213B | 3.9x | 3.7x | 8.2x | 7.1x | |||
| $324B | $68B | 2.2x | 1.8x | 10.5x | 8.0x | |||
| $184B | $41B | 2.4x | 2.0x | 10.8x | 7.2x | |||
| $427B | $70B | 0.8x | 0.7x | 4.7x | 4.4x | |||
| $267B | $55B | 1.2x | 1.0x | 5.8x | 4.5x | |||
| $182B | $38B | 1.3x | 1.2x | 6.3x | 5.0x | |||
| $27B | $16B | 10.5x | 9.6x | 17.9x | 16.2x | |||
| $59B | $25B | 3.0x | 2.6x | 7.0x | 5.8x | |||
This data is available for Pro users. Sign up to see all CarbonCapture competitors and their valuation data. Start Free Trial | ||||||||
Common questions about CarbonCapture
| When was CarbonCapture founded? | CarbonCapture was founded in 2019. |
| Where is CarbonCapture headquartered? | CarbonCapture is headquartered in Los Angeles, CA, United States. |
| Is CarbonCapture publicly listed? | No, CarbonCapture is a private, VC-backed company. |
| How much funding has CarbonCapture raised? | CarbonCapture has raised $115M across 2 funding rounds. |
| What was CarbonCapture's last funding round? | CarbonCapture's last funding round was a $80M Series A in March 2024, led by Prime Movers Lab. |
| Who are CarbonCapture's investors? | CarbonCapture's investors include Prime Movers Lab, Alumni Ventures, Time Ventures, Lightbank, IdealabX, Rio Tinto, Idealab, Siemens, Climate Pledge Fund, Neotribe Ventures and 1 other. |
| Which companies are comparable to CarbonCapture? | Companies comparable to CarbonCapture include Clean Planet, Electra, Climeworks, Amogy, Vistra and First Solar. |
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