Yesterday Seattle startup Nori announced that it raised a $7M Series A investment, led by M13 with participation from Toyota Ventures and Placeholder. Nori provides a marketplace for carbon removal solutions by promoting and verifying smart farming techniques and minting their carbon removal efforts on the Ethereum blockchain as NFTs.
The recent funding will help the platform expand the sources of carbon capture within its marketplace, as well as move its operation from Ethereum to the Polygon sidechain to reduce the company’s indirect environmental impact.
Nori is not pursuing the typical approach where companies that pump carbon into the atmosphere offset their climate change impact by investing in solar or forests. Instead, Nori wants to help to remove or sequester carbon from the atmosphere. There are several ways to do that, and Nori’s current focus is on promoting climate-smart farming practices.
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