Coral, a climate tech startup leveraging blockchain and AI, has secured $3 million in seed funding to expand its operations and enhance its carbon emissions management platform. The funding will allow Coral to open a new office in Abu Dhabi, hire additional experts, and improve its AI-powered platform.

'Full Life Cycle' Traceability of Carbon Credits

Coral, a blockchain and artificial intelligence (AI)-based climate technology startup, announced on September 23 that it has secured $3 million in seed funding. The funding round was led by unnamed tech investors with a combined 40 years of experience in the field, according to a statement.

The climate tech startup said it will use the money to expand its operations by opening a new office in Abu Dhabi and hiring more experts, allowing it to reach a wider customer base and scale its operations. The funding is also expected to help bolster Coral’s AI-powered platform, which already facilitates and automates carbon data collection, footprint assessment, and reporting in a single system.

Coral's services offer businesses an efficient way to manage their carbon footprint. The climate tech startup's blockchain platform allows for "full lifecycle traceability" of carbon credits. It also enables real-time audits of offsets to ensure quality and transparency.

Commenting on the startup’s successful seed funding round, Daniele Sileri, Chief Product and Strategy Officer at Coral, said:

We are excited to close our seed round and grateful for the support from investors who share our vision for a sustainable future. This funding will allow us to scale our platform, expand our team, and accelerate our mission to make carbon neutrality more accessible and transparent to businesses around the world.

JĂŒrgen Hoebarth, Coral’s chief operating and research officer, said the startup is differentiating itself from other platforms by effectively integrating AI and blockchain with Coral’s Emissions Management System. Hoebarth said this integration positions Coral to help other organizations achieve their sustainability goals.

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