Share this article
Climate Company Flowcarbon Raises $70M Through A16z-Led Round, Sale of Carbon-Backed Token
Flowcarbon aims to drive investment in projects that remove carbon from the atmosphere by creating a protocol that tokenizes carbon credits.
Updated Apr 10, 2024, 2:11 a.m. Published May 24, 2022, 10:35 a.m.
Flowcarbon said it raised $70 million to develop a protocol that tokenizes carbon credits, with the aim of driving investment in projects that remove carbon dioxide from the atmosphere.
- Venture capital giant Andreessen Horowitz (a16z) led a $32 million funding round that included contributions from Samsung Next and Invesco. Another $38 million came from the sale of its goddess nature token (GNT).
- GNT is backed by carbon credits issued over the last five years from nature-based projects and will trade on Celo, a proof-of-stake blockchain, Flowcarbon said Tuesday. The Celo Foundation purchased $10 million of GNT to offset its own carbon emissions.
- "Demand for carbon credits has surged in recent years among corporations that use them to offset carbon emissions, but the ability to scale the volume of credits available has been limited by the VCM’s opaque and fractured market infrastructure," Flowcarbon said in a statement, referring to the voluntary carbon market.
- Flowcarbon joins a crowded field. As early as four years ago, IBM said it was working with Veridium Labs on a carbon credit related token, and other companies are also active. Toucan, Regen and Moss all aim to increase transparency and improve accessibility to the carbon credit market. And earlier this year, JustCarbon and Likvidi opened marketplaces for their own carbon tokens. The wider movement is known as "ReFi" (regenerative finance).
- Arianna Simpson, an a16z general partner, says tokenization is an "obvious solution" to help supply of carbon offsets keep up with demand.
Read more: Crypto Carbon: Can Blockchain Networks Fix Carbon Offsets?
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase rolls out stock trading, prediction markets and more in bid to become the ‘Everything Exchange’
Coinbase is dramatically expanding the assets available to trade on its platform, including novel cryptocurrencies, perpetual futures, stocks and prediction markets, starting with Kalshi.
What to know:
- Coinbase is expanding offerings on its platform, introducing hundreds of top stocks based on market cap, trading volume, etc, with plans to add thousands of additional stocks and ETFs over the coming months.
- Coinbase users will also be able to trade on the outcomes of real-world events like elections, sports, collectibles, and economic indicators, starting with Kalshi and more to be integrated over time.
- A new AI-driven wealth management advisory service has been introduced, as well as Coinbase Business to help startups and small businesses incorporate crypto.
Top Stories
