Coral, a climate tech startup utilizing blockchain and AI, has raised $3 million in pre-seed funding to scale its operations and enhance its carbon emissions management platform. The funds will be used to open a new office in Abu Dhabi, expand its team, and improve its AI-powered system.
Full Lifecycle Traceability of Carbon Credits
On September 23, Coral announced that it secured $3 million in pre-seed funding led by experienced tech investors. The startup plans to use the capital to grow its operations, increase its customer reach, and enhance its platform, which already facilitates carbon data collection, footprint evaluation, and reporting within a single system.
Coral’s blockchain-powered platform provides businesses with a comprehensive solution for managing carbon emissions, offering “full lifecycle traceability” of carbon credits. It also enables real-time auditing of carbon offsets to ensure transparency and quality.
Leadership Remarks
Daniele Sileri, Director of Product and Strategy at Coral, expressed excitement about the funding round, stating, “This funding will enable us to scale our platform, expand our team, and accelerate our mission to make carbon neutrality accessible and transparent for businesses worldwide.”
Jürgen Hoebarth, Director of Operations and Research at Coral, highlighted the company’s unique position in the market, emphasizing its integration of AI and blockchain in its Emissions Management System, which helps organizations achieve their sustainability goals.
Source: news.bitcoin.com
