What is Nori?
Nori operates an innovative online marketplace designed to fund carbon removal initiatives, directly addressing the urgent need to reverse climate change. Founded in 2017 and headquartered in Seattle, Washington, the company has established itself as a key player in the climate tech sector. Its platform facilitates the financing of carbon removal projects, creating a market-driven approach to environmental sustainability. The company's business model aims to incentivize the reduction of atmospheric carbon dioxide through a transparent and accessible marketplace.
How much funding has Nori raised?
Nori has raised a total of $18.6M across 4 funding rounds:
Angel/Seed
$1.3M
Unspecified
$4M
Series A
$7M
Other Financing Round
$6.3M
Angel/Seed (2020): $1.3M, investors not publicly disclosed
Unspecified (2020): $4M led by Tenacious Ventures, Placeholder, and North Island Ventures
Series A (2022): $7M supported by Toyota Ventures, M13, and Placeholder
Other Financing Round (2023): $6.3M featuring Toyota Ventures, Cargill, M13, and Placeholder
Key Investors in Nori
Toyota Ventures
Toyota Ventures is the early-stage venture capital arm of Toyota, based in the San Francisco Bay Area. The firm invests in frontier technologies such as artificial intelligence, mobility, robotics, and climate technologies aimed at achieving carbon neutrality. It seeks to partner with innovative startups and entrepreneurs globally, providing not just funding but also strategic support and operational guidance. Toyota Ventures is committed to promoting diversity and inclusion within its portfolio and the broader venture capital industry.
Cargill
Cargill Meat Solutions Corporation is a leading processor and distributor of fresh beef, pork and turkey, plus cooked and marinated meats. Representing more than a dozen major brands that are sold in both retail and foodservice channels, Cargill Meat Solutions is committed to providing great-tasting meat to our customers and consumers around the world.
M13
M13 is an early-stage venture capital firm focused on seed and Series A investments in visionary founders. The firm boasts a team of full-time operators dedicated to helping entrepreneurs scale their businesses efficiently and build category-defining software companies. With a unique approach, M13 emphasizes collaboration among investors to create a stronger support system for startups. Their expertise spans various domains, offering insights into topics such as AI, fintech, and climate tech.
What's next for Nori?
With the recent major strategic investment, Nori is poised for significant expansion and further development of its carbon removal marketplace. The substantial capital infusion, particularly the $6.3M from this latest round, will likely be directed towards scaling operations, enhancing technological capabilities, and broadening its network of carbon removal suppliers and buyers. This enterprise-level funding suggests a strategic focus on solidifying its market position and accelerating its impact in the fight against climate change, potentially paving the way for future growth stages and broader adoption of its carbon credit system.
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