CarbonChain

UK-based CarbonChain’s AI-powered carbon accounting platform enables companies in the extractive industries to track the carbon emissions of their supply chains. CarbonChain caters to commodities producers, commodities traders, logistics companies, and financial institutions. 

The platform supports a wide range of hard and soft commodities and uses standard greenhouse gas (GHG) emission factors to measure a carbon footprint. CarbonChain also enables companies to identify their highest polluting transactions and take the steps necessary to control the carbon footprint.

In April 2024 , the company launched CarbonChain Comply, a new emissions reporting solution for mandatory and voluntary disclosure within the metals and energy supply chains.

Key customers and partnerships

The company’s early stage customers include Concord Resources Limited, Warwick Manufacturing Group, TELF AG and Wogen. In October 2022, CarbonChain partnered with Clarksons’ Carbon Broking team, an LSE-listed shipping services provider, to further scale up the latter’s sustainability offering. In January 2024, the company partnered with thyssenkrupp Materials Services, a German material distribution company, to improve the latter’s carbon footprint measurements.

Funding and Financials 

CarbonChain’s most recent funding round was in April 2023, when it raised USD 10 million in a Series A funding round co-led by Union Square Ventures and Voyager Ventures. The proceeds were used to develop new carbon accounting solutions, for team expansion, to scale up its customer base and to support the opening of its New York office.