CarbonFlow, a San Francisco-based company that develops and markets software for carbon market participants, has recently completed its initial round of venture capital funding. Earlier this month, @Ventures, the venture capital business of ModusLink Global Solutions, announced that it made an investment in CarbonFlow and that this investment completed CarbonFlow's first round of VC funding. According to an Earth2Tech article, this @Ventures investment was approximately $1 million. Other CarbonFlow investors are Clean Pacific Ventures, OVP Venture Partners, and Meridian Energy Ltd. According to a CNET article these three investors previously provided CarbonFlow with $2.9 million.
CarbonFlow will use its venture capital funding to accelerate the commercialization of its Carbonflow(TM) Suite of solutions, which is designed to deliver improved processes, greater transparency, and higher quality data to carbon market participants. The company was founded in 2006 and has an exclusive relationship with Det Norske Veritas (DNV), the largest verifier of carbon credit projects in the world.
“We’re pleased to support CarbonFlow in the delivery of vital solutions to the fast-emerging carbon marketplace,” said Rob Day, principal at @Ventures. “CarbonFlow’s capital-efficient approach to the market and compelling customer economics make this an exciting investment opportunity and a strong match with our firm’s investment strategy. CarbonFlow’s strong leadership team has deep carbon market expertise and relationships that have positioned them for long-term success.”
"With the completion of this round of financing, our company is primed to deliver solutions that our colleagues in the carbon markets are clamoring for," stated Neal Dikeman, co-founder of CarbonFlow. “We’re excited about the investor group that has come together to support this effort, including some of the leading venture capital firms and strategic investors in clean technology. As carbon trading markets arise around the world, CarbonFlow’s solutions are poised to play a central role.”
For more information:
- CarbonFlow – Home page
- @Ventures Invests in CarbonFlow, Inc. (November 7, 2008)