Plural invested in London-based carbon removal registry Isometric
Venture capital company Plural invested in the London-based carbon removal registry and science platform Isometric. In total, Isometric secured $25M from Plural, Swedish entrepreneur Niklas Zennström (Skype’s co-founder), Icelandic investor David Helgason (founder of Unity Technologies), Swiss-based investor Ross Mason (founder of MuleSoft), and Finnish entrepreneur Ilkka Paananen (founder of Supercell). US venture firm Lowercarbon Capital led the round. Lowercarbon Capital’s partner Ryan Orbuch will also join the Isometric board.
Isometric was founded in 2022 by serial entrepreneur Eamon Jubbawy. Isometric is a science platform, which is a collaborative tool for suppliers, buyers, and the academic community to advance the field of carbon removal. It is a community resource where carbon dioxide removal suppliers publish and visualize their early processes, removal data, and protocols—enabling the scientific community to share feedback and advice. Through the development of protocols on the platform, it is possible to quantitatively assess the amount of carbon removed by a process, which is necessary to verify carbon credits. The company has offices in London and New York.
With the investment, Isometric launches a collaborative public science platform and plans to hire more scientists and engineers to build out its carbon removal registry, in which it will issue carbon removal credits. The company targets to launch the registry in the coming months.
'Isometric’s team has already reviewed delivered tonnes of carbon dioxide for the company Charm Industrial and posted the data on its science platform. Charm Industrial (focuses on bio-oil sequestration)recently announced carbon dioxide removal sales worth $50M to JP Morgan, Stripe, Shopify, Meta, Alphabet, McKinsey, and others.
Plural Platform is a €250 million early-stage venture fund started by Sten Tamkivi (founder of software company Teleport), Taavet Hinrikus (founder of money transfer service Wise), Ian Hogarth, and Khaled Helioui in 2022. It focuses on leading early-stage rounds between €1 and €10M. In 2023, it invested in British leg tech Robin AI, London-based AI technology Unitary, which moderates harmful content online, Danish healthtech Teton, US asset-backed secured credit card Pesto, and Dutch nanoparticle generator VSParticle, that can split materials at the atomic level in just a few minutes.
