Carbon removal marketplace, Supercritical – which also focuses on providing high-quality carbon removal credits – has closed its Series A funding round, having raised a total of U$13m. The latest round was headed up by Lightspeed Venture Partners and carried out in collaboration with RTP Global, Greencode Ventures, MMC Ventures and more.

It is anticipated that Supercritical will utilize the latest round of funding to expand its team, product offering and to gain additional customers.

The start-up company works with global businesses to measure emissions produced by their respective operations, before coming up with a strategy to achieve net zero through the use of different emission reduction actions. Furthermore, the company also aids customers in purchasing high-quality carbon removal credits.

As the business grows, it seeks to scale up and accelerate carbon removal technologies by aggregating business demand while also improving new purchase models.

“We’re proud to work with businesses that are taking a leading role in building sustainability programs that center around both reducing emissions and removing with durable carbon removal, the only type of offset that counts towards net zero,” explained Michelle You, co-founder and CEO, Supercritical. “With this funding, we are excited to enter a new chapter and play a meaningful role as a market maker for promising carbon removal projects, aggregating demand to support them as they scale.”