India-Based Climate Tech Startup Alt Carbon Raises $12 Million to Scale Carbon Removal Efforts
India-based climate tech startup Alt Carbon has announced a successful $12 million seed financing round to expand its Enhanced Rock Weathering (ERW) solution. This funding marks the largest seed round to date for climate tech in India and will be instrumental in scaling carbon removal efforts across the Global South.
Founded in 2023 by brothers Shrey and Sparsh Agarwal, Alt Carbon aims to remove 5 million metric tons of CO2 by 2030. The company’s ERW technology involves sourcing basalt rock dust from mines and spreading it across agricultural fields. The rock dust reacts with rainwater, converting into stable bicarbonate ions stored in the soil, eventually becoming calcium carbonate in the ocean over 10,000 years. This process not only removes carbon but also enhances soil health and crop yields.
Alt Carbon’s flagship initiative, The Darjeeling Revival Project, focuses on CO2 removal while aiming to restore livelihoods and revive degraded soils and ecosystems in Darjeeling’s tea gardens. Recent partnerships include a strategic collaboration with Mitsubishi Corporation and a 10,000-tonne carbon removal offtake agreement with MOL Group.
“Our goal is to make India a hub for carbon removal,” said Alt Carbon Co-founder & President Sparsh Agarwal. “We plan to remove CO2 at scale from the Global South, for the planet.”
The seed round was led by tech investor Lachy Groom, who praised Alt Carbon’s ambitious vision and technical approach. “Alt Carbon is tackling a once-in-a-generation challenge,” Groom said. “In just 18 months, the team has built a world-class lab and laid the foundation for a new class of carbon removal and agricultural infrastructure.”
The funding will support Earth Sciences R&D, hardware innovations, and scaling operations for durable climate action in India and the Global South.
