Overview

Charm Industrial focuses on carbon capture and storage to help combat climate change. The company collects agricultural residues, which are the leftover parts of crops after harvesting, and converts them into bio-oil using a process called pyrolysis. This process transforms biomass into a carbon-rich liquid through a self-sustaining reaction. The bio-oil is then pumped deep underground, where it solidifies and permanently removes carbon dioxide (CO2) from the atmosphere. This method not only helps in reducing CO2 levels but also minimizes risks like wildfires and soil erosion. Charm Industrial serves clients in the agricultural sector by providing them with a service to convert their agricultural waste into bio-oil and store it underground, generating revenue through this process. The company's goal is to offer a practical solution to reduce carbon footprints and promote sustainability.

Simplify's Take

What believers are saying

• Google partnership aims to remove 100,000 tons of CO2 by 2030.
• $100 million Series B funding boosts Charm's expansion and R&D efforts.
• Collaboration with Manufacturo enhances Charm's carbon removal scaling capabilities.

What critics are saying

• Potential competition from other climate-focused startups in the agtech sector.
• Evolving MRV standards may increase operational costs and impact scalability.
• Scaling to tens of thousands of pyrolyzers requires significant capital and coordination.

What makes Charm Industrial unique

• Charm Industrial uses bio-oil for carbon sequestration, a novel approach in the industry.
• The company converts agricultural residues into bio-oil through a self-sustaining pyrolysis process.
• Charm's method reduces wildfire risks, soil erosion, and land use change.

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Funding

Total Funding

$125.5M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:

General Catalyst

Notable Investors:

General Catalyst

$100,000,000

Series B

Jun 2023

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Above Average

Industry standards

Ind Avg. $35M

$4M

$30M

$45M

$65M

$100M

$100M

View all funding stages