Alt Carbon’s $12M Recipe: Basalt, Tea, and a Dash of Climate Hope

India-based deep-tech climate venture Alt Carbon has raised $12 million in seed capital—the largest seed climate tech round in India—to speed up carbon dioxide removal (CDR) in the Global South. The round, championed by Lachy Groom and backed by a list of top investors and philanthropic capital, will help Alt Carbon scale up its first-of-its-kind Enhanced Rock Weathering (ERW) technology, drive R&D, and develop agricultural infrastructure for climate action.

 

Biggest Seed Round Ever for Climate Tech in India

Alt Carbon's $12 million seed round is the biggest ever for a climate tech company in India, reflecting the increasing demand for high-quality, removal-based carbon credits and India's new position on the global stage of climate action.

 

The round was led by Lachy Groom, co-founder at Physical Intelligence, with backing from Shastra VC, ACT Capital Foundation, and some prominent angel investors.

 

Pioneering Carbon Removal Technology

Alt Carbon uses Enhanced Rock Weathering (ERW), a technology that disperses waste basalt rock dust—mined—into fields. 

 

When rainwater with CO₂ comes into contact with the basalt dust, a chemical reaction traps the carbon as stable bicarbonate ions in the ground, which ultimately end up in the ocean and are stored as calcium carbonate for more than 10,000 years.

 

The firm's "Hari Maati" proprietary blend, made from basalt and organic ingredients, enhances soil health and yields and sequesters carbon to its maximum level.

 

Flagship Project: Darjeeling Revival Project (DRP)

The DRP will bring together climate action and ecological and cultural restoration by restoring degraded soils, restoring livelihoods, and securing Darjeeling's unique tea industry.

 

The project is an example of best practices in bringing science, community engagement, and climate solutions together in the Global South.

 

Ambitious Scale and Impact

Alt Carbon has already tested its technology on 500 acres and intends to upscale to 500,000 hectares with a goal of removing 5 million tons of CO₂ by 2030.

 

The startup's credits cost $270 per metric ton, much cheaper than direct air capture options, which makes CDR more viable for global purchasers.

 

Scientific Rigor and Global Partnerships

The firm has state-of-the-art labs in Darjeeling and Bengaluru, supported by a pool of PhDs and the use of machine learning for high-accuracy measurement, reporting, and verification (MRV) of carbon removal.

 

Alt Carbon has received pre-purchase contracts with international buyers such as Frontier and NextGen and signed a contract with Japan's MOL Group for 10,000 tons of credits in recent times.

 

Catalytic Support and Vision

Early support from ACT Capital Foundation and other philanthropic collaborators facilitated Alt Carbon's first field deployments and testing of its ERW method.

 

The company envisions situating South Asia as a world center for carbon removal through marrying scientific innovation with scalable, community-centric action.

 

Sources: GlobeNewswire, TechCrunch, Inc42, LinkedIn, Alt Carbon official website