CUR8, welcome to our portfolio!

CUR8 is a U.K.-based climate tech startup that thinks it has the answer. It’s building a market-making platform for carbon removals. Their idea is to provide high-quality portfolios of carbon removals, effectively allowing customers to make bets on a wide variety of these products.

It has now raised $6.5 million (£5.3 million) in pre-seed funding from CapitalT and GV (Google Ventures).

The company has a pretty crack team. It was founded in 2022 by serial fintech entrepreneur Marta Krupinska (co-founder of Azimo, and former Google for Startups U.K. lead), climate scientist Dr. Gabrielle Walker (founder of nonprofit Rethinking Removals) and Mark Stevenson (a former advisor to U.K. Ministry of Defense).

How does it work? CUR8 buys carbon removal credits from suppliers it has vetted, and builds these carbon removals portfolios, combining different strategies and methods. For example, these include direct air capture (1pointfive), enhanced rock weathering (UNDO), and durable soil carbon (Loam Bio).

CUR8 also plans to abide by the industry-standard set price of £150 per carbon removal, the idea being that gradually the price will come down over time as the market scales.

Read the full TechCrunch article.