Raw: [
India-based climate tech startup Alt Carbon announced that it has raised $12 million in a […]]
India-Based Climate Tech Startup Alt Carbon Raises $12 Million to Trap Carbon in Rocks and Soil – ESG Today
ESG Investing, sustainable finance & business sustainability news
ESG investing news, analysis, research and information
Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance
ESG Solutions ESG Tools, Services
Companies Companies
Investors Investors
ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies
Newsfeed
Resources
Events
About About us
Our Team
Advertise With Us
Environment/ Private Equity & Venture Capital
India-Based Climate Tech Startup Alt Carbon Raises $12 Million to Trap Carbon in Rocks and Soil
Mark Segal
May 26, 2025
India-based climate tech startup Alt Carbon announced that it has raised $12 million in a seed financing round, with proceeds aimed at scaling its Enhanced Rock Weathering solution to remove and store carbon across the Global South.
According to the company, the announcement marks the largest seed round to date for climate tech in India.
Founded in 2023 by brothers Shrey and Sparsh Agarwal, Alt Carbon has set a goal to remove 5 million metric tons of CO2 by 2030, with a focus on Carbon Dioxide Removal (CDR) in South Asia, through technology pathways like Enhanced Rock Weathering (ERW). The company’s ERW method sources basalt rock dust from mines, and spreads it across agricultural fields, where it reacts naturally with rainwater through a chemical reaction that converts it into stable bicarbonate ions that are stored in the soil, and over time travel through rivers to the ocean, residing as calcium carbonate for over 10,000 years.
In addition to removing carbon, the process also improves soil health and crop yields, according to Alt Carbon. The company said that its flagship initiative, The Darjeeling Revival Project (DRP), aims to remove CO2 and to “restore livelihoods, revive degraded soils and ecosystems, and preserve India’s most valued export: Darjeeling’s tea.” In the past two months, Alt Carbon has signed a strategic partnership with Mitsubishi Corporation, and a 10,000-tonne carbon removal offtake agreement with MOL Group.
Alt Carbon said that the new capital will help expand Earth Sciences R&D, advance hardware innovations, and scale-up operations for durable climate action in India, accelerating CDR in the Global South.
Alt Carbon Co-founder & President, Sparsh Agarwal, said:
“Our goal is to make India a hub for carbon removal. We plan to remove CO2 at scale from the Global South, for the planet. We thank the partners who have joined us in this ambitious, whirlwind journey, to revive Darjeeling, remove CO2 and undo the clock for this planet.”
The seed round was led by tech investor and AI startup Physical Intelligence co-founder and CEO Lachy Groom, and included participation from existing investors.
Groom said:
“Alt Carbon is tackling a once-in-a-generation challenge. The personal journey of the founders, their technical approach, and ambitious vision will help us remove CO₂ from the atmosphere at gigaton scale — all while adapting agricultural land for climate impact. In just 18 months, the team has built a world-class lab, created proprietary models, and laid the foundation for a new class of carbon removal and agricultural infrastructure. This is a category-defining deep-tech company that will reshape how the world thinks about climate action.”
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
Related Posts
Environment /
Construction Cleantech Converge Raises $22 Million to Decarbonize Concrete with AI
Private Equity & Venture Capital /
Carlyle Launches New Clean Energy Infrastructure Development Platform
Environment /
PepsiCo Pushes Back Climate, Packaging Goals Due to “External Realities”
‹ EU Ombudsman Launches Inquiry into Commission’s Process to Reduce Sustainability Reporting, Due Diligence Requirements
ESG Today Newsletter – Subscribe
Subscribe to the ESG Today NewsletterJoin our mailing list for the latest breaking ESG investment news!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Sustainable Finance
Neot Raises $390 Million to Launch New Sustainable Mobility Financing Platform
La Banque Postale Launches ESG-Focused Offerings Across its Entire Savings Portfolio
JPMorgan Backs Mati Carbon to Scale ERW Carbon Removal Business
DIFC Launches Initiative to Train “1 Million Learners” for Sustainability & Sustainable Finance Workforce
Government
EU Ombudsman Launches Inquiry into Commission’s Process to Reduce Sustainability Reporting, Due Diligence Requirements
Germany Walks Back Call to Scrap the EU’s Supply Chain Sustainability Law
BlackRock Hits Back at Trump Administration’s Support for Case Accusing Asset Managers of Using Net Zero to Manipulate Energy Prices
EU Lawmakers Agree to Exempt 90% of Companies from CBAM Import Carbon Tax
Categories
Select Category
Companies
Energy Transition
Environment
ESG Reporting
ESG Tools, Services
Executive Moves
Governance
Government
Guest Posts
Investors
M&A
New funds & products
Platforms & Markets
Private Equity & Venture Capital
Professional bodies
Regulators
Reports, Studies
Social
Social & Governance
Sustainable Finance
Back to Top
Home
About us
Disclosure, cookies & privacy policy
© ESG Today 2025
Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!
Subscribe Now
c