Alt Carbon, a climate tech startup, has managed to secure $12 million in a seed round to expand its carbon dioxide removal efforts in South Asia. The company, which specializes in enhanced rock weathering on farmlands to lock away carbon for thousands of years, attracted investment from Lachy Groom, the co-founder of Physical Intelligence. The journey started in May 2020 when siblings Shrey and Sparsh Agarwal went back to their struggling family tea estate in Darjeeling, which was on the brink of bankruptcy. Instead of saying goodbye to the estate, they found inspiration for Alt Carbon, officially launched in late 2023.
Starting with a pilot project on their family’s tea estate, Alt Carbon has now expanded to North Bengal, covering rice and bamboo farms. The startup plans to scale up to 500,000 hectares of land with the goal of removing 5 million tons of carbon by 2030. Using waste basalt rock dust from mines in eastern India, they spread it on farmlands to naturally react with rainwater, removing carbon dioxide and enriching the soil with micronutrients. The process helps improve soil fertility, crop yields, and locks away carbon for over 10,000 years.
Alt Carbon has developed a unique blend of basalt and organic ingredients called Hari Maati to encourage farmers to use it on their lands. The startup estimates its carbon credits at $270 per metric ton, significantly cheaper than direct air capture credits. They rely on measurements, water tracking, groundwater sampling, and proprietary models to monitor the carbon removal process. With labs in Darjeeling and Bengaluru, Alt Carbon plans to expand its soil analysis and data collection efforts using remote sensing and ground sensors. The recent seed round led by Groom will help them achieve these goals and partnerships with industry leaders like Stripe, Alphabet, and Mitsubishi Corporation will further support their mission.
Maybe it’s just me, but Alt Carbon’s innovative approach to carbon removal seems like a game-changer in the fight against climate change. The fact that they managed to turn a struggling family business into a successful climate venture is truly inspiring. With their focus on enhanced rock weathering and sustainable farming practices, Alt Carbon is not only helping the environment but also supporting local communities in South Asia. It will be interesting to see how they continue to grow and make a real impact in the coming years.
