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Seattle Carbon Removal Startup Nori Shuts Down After Raising $17.25M and Seven Years of Operation
Seattle-based carbon removal startup Nori, which raised $17.25 million and operated a blockchain-enabled marketplace for carbon credits, has shut down after seven years due to challenges in the voluntary carbon market and funding difficulties. Despite being on track to remove over 700,000 tons of carbon in 2023 and directing $6.5 million to farmers, Nori ceased operations amid an uncertain and evolving carbon credit sector.
Carbon Removal Startup Nori Raises $6.25M Led by Toyota Ventures, Appoints Matt Trudeau CEO
Carbon removal startup Nori raised $6.25 million led by Toyota Ventures and others, bringing total funding to $17.25 million, and appointed Matt Trudeau as new CEO. Nori sells blockchain-based carbon credits from farmers capturing carbon, has partnered with Bayer, and faces supply shortages amid growing offset demand.
Nori raises $4M seed from Placeholder-led round to scale crypto carbon-offset marketplace
Seattle startup Nori raised $4 million in a seed round led by Placeholder to expand its crypto-based carbon-offset marketplace that pays farmers for regenerative practices; the platform has sold nearly 13,000 metric tons of CO2 offsets and aims to sell 20,000 more by year-end.
