SINGAPORE, 12 January 2022 – Carb0n.fi, a blockchain solution providing carbon offset NFTs, announced today that it has successfully closed its private financing round, raising a sum of US$600,000. The funding round was completed in the lead-up to Carb0n.fi’s initial dex offering (IDO) on the CardStarter launchpad scheduled for January 19^th, 2022. The raise will allow Carb0n.fi to strengthen its blockchain platform and accelerate overall product development. 

The round was led by crypto-VC Owl Ventures. Other strategic investors that participated in the round include blockchain VC Blockseed Ventures, Lancer Capita, Antler Singapore, a prominent Chinese family investment office based out of Dubai and an array of influencers including CryptoFOMO. The round also included an angel consortium of 13 fintech and crypto individuals, including Byron Grigoratos, who has expertise across crypto fund management, liquidity provision, commodities trading as well as connections to e-commerce giants in South-East Asia. 

Carb0n.fi’s platform allows users to put their crypto to work and be rewarded with carbon offsets and the project’s governance token $ZRO, as they leverage DeFi 2.0 to enable ownership of a new asset class in the form of carbon offset NFTs. Doing so will allow users in time to be able to track and estimate their carbon footprint, as well as offset it, in one seamless process. Users can also buy and sell carbon offsets on Carb0n.fi’s offset exchange, and benefit from discounted transaction fees by holding $ZRO. By offering a real-world carbon offset application, Carb0n.fi is leading the way in democratising access to carbon markets for carbon offset projects in the ASEAN region. 

Bree Yek, Co-founder and Chief Executive Officer at Carb0n.fi, commented:

“While the growth in carbon trading markets is encouraging, the lack of transparency, double spending and high barriers to entry are some challenges that companies and individuals face when trying to properly access carbon trading markets. In addition, there are also few existing incentivisation mechanisms in place to increase the participation levels for carbon reducing activities. Carb0n.fi was set up to change this. We believe that DeFi naturally incentivises good actors and is an efficient way to own new and growing asset classes, including carbon offsets.”  

“Our fundraising is the first step to making carbon markets accessible for a lot more projects and contributing to the fight against the climate crisis. We are excited to witness the interest investors have shown in this growing space, and look forward to expanding our team and using this funding to accelerate our growth and development.”

“Carb0n.fi has always been passionate about sustainability, and their expertise in blockchain and finance makes them a very strong team. Here at Owl Ventures, we champion strongly for sustainability and believe that Carb0n.fi are able to achieve their goals and we are fully committed to supporting them as investors.” – Gareth Fenney, Co-Founder of Owl Ventures

“We stand with Carb0n.fi and are committed to working with them in order to reduce the overall perceived poor carbon footprint of the blockchain industry.” – Manmeet Singh, Managing Partner, Blockseed Ventures 

Re-disseminated by The Asian Banker