Andreessen Horowitz’s Invests $4.5 Million in Climate Tech

Ayushi Vanzara

25th Feb'21
Andreessen Horowitz’s Invests $4.5 Million in Climate Tech | OpenGrowth

Andreessen Horowitz is a venture capital firm based in Silicon Valley founded by Marc Andreessen and Ben Horowitz. They invest in early-stage startups as well as established growth companies.   

According to a TechCrunch article, Patch, the carbon offset API developer, confirms Andreessen Horowitz investment in their company. 

In September 2021, the initial funding of Patch was made by VersionOne Ventures.

 

If you’re wondering what Patch actually does, allow me to explain.

 

What does Patch do?

Patch, founded by Brennan Spellacy and Aaron Grunfeld, helps businesses of all sizes build sustainable products and put their climate goals on autopilot with just a few code lines. 

How does it Work?

It integrates with businesses to calculate their carbon footprint, identify and fund verified carbon removal projects to offset equivalent carbon dioxide emissions emitted by the business.

As per VersionOne Ventures investment announcement, “The Patch API allows developers to leverage data already captured to neutralize their carbon impact via a diverse selection of carbon sequestration projects. As a result, businesses can ship climate positive products, whether at an additional opt-in cost to the customer or built-in to their pricing strategy.”

Must Read: Bill Gates Comes up with Master Plan to Battle Climate Change

 

Image Courtesy: Patch

 

However, a major Concern with Patch is that it's serving its customers with services that can be obtained as an alternative for carbon emissions. Businesses will start looking at offset as a substitute for emitting carbon emissions instead of using sustainable or clean energy options to eliminate carbon emissions from their day-to-day operations.

Although Patch founders Brennan Spellacy and Aaron Grunfeld emphasized in an interview that the company’s offset work should not be viewed as an alternative to the decarbonization of businesses that use its service. Rather, they see Patch’s services as a complement to other work companies need to do to transition away from a reliance on fossil fuels in business operations.

 

Seed Funding

 

Recently, Patch has raised $4.5 million in financing to build out its business model.

The seed funding round was led by Andreessen Horowitz along with participation from VersionOne, Pale Blue Dot Ventures, and Maple VC.

The company will also be using the money to hire more staff and to develop new products. Currently, Patch has six employees, intending to hire 24 more by the end of the year.

 

More about Patch

 

  • The company said the software allows companies to select which projects they would like to fund for their contribution to the removal of carbon dioxide from the atmosphere. They have projects ranging from reforestation and conservation to early-stage high-tech projects like direct air capture.

 

 

  • “Patch currently works with 11 carbon removal suppliers and has plans to onboard another 10 before the end of the first quarter, the company said. These are companies like CarbonCure, which injects carbon dioxide into cement and fixes it so that it’s embedded in building materials for as long as a building lasts,” as per TechCrunch.
  • Jennifer Wagner, President of CarbonCure Technologies said in a statement, “Carbon removal credits can help to dramatically accelerate the deployment of technologies like CarbonCure’s, which are absolutely critical to helping us reach our global climate targets. Demand for high-quality, permanent credits is sky-rocketing, and listing credits on Patch will help us to attract a broader range of buyers.”

Read Now: 5 Reasons to be Optimistic about Clean Energy in 2021 

  • Patch’s Mission statement says, “Businesses need to focus on both rapidly decarbonizing their operations and compensating unavoidable emissions. We built Patch to be the most effective and responsible way to accomplish the latter so that companies can focus on decarbonization.”

 

Image Courtesy: Patch

 

  • “An increasing number of businesses are taking leadership positions in an effort to reduce emissions to try to counteract global warming,” said Jeff Jordan, Managing Partner at Andreessen Horowitz. “Patch makes it much easier for companies to add carbon removal to their core business processes, aggregating verified carbon-removal supply and offering turn-key access to it to companies through an easy-to-implement API.” 

 

Let us know your views in the comment section below.

 

To read more such related blogs, refer to the below-given links:

An Overview of the ESG (Environmental, Social, and Governance)

To learn about what is Environmental, Social, and Governance, and ESG investing, click here

Self-Healing ‘Living Concrete’

Do you know what self-healing concrete is? Find out

Better Buy: Plug Power vs. FuelCell Energy

Learn what is a fuel cell, plug power, and fuel cell energy and which among them is a better option to buy. Click here

 

We, at OpenGrowth, are continually looking for trending startups in the ecosystem. If you want to know any further information about the startup ecosystem or have any mind-boggling ideas, do refer to the other blogs at OpenGrowth. If you have any suggestions, do let us know in the comment section below.

Ayushi is currently pursuing Chartered Accountancy. No secrets there that she loves to read!  She believes words have the power of healing and is a medium that can convey like no other. She hopes to connect with people through her empathy, thoughtfulness, and by adding value to their lives.

Comments

Blank User| OpenGrowth

geraldmuswagon471@gmail.com

4th Feb'23 09:54:39 PM

I want to genuinely thank Dr Ayoola for making my dream come through. I was on the internet when I saw people posting and talking about Dr Ayoola. On How he has help them in winning lottery. My name is Gerald Muswagon this is my story on how I win $10 million After reading the article about Dr Ayoola I contacted him I told him to help me win lottery he respond to me by saying he will help me after working with him he assured me that I will win. Which I believe. After working with Dr Ayoola he gave me a number and ask me to go and play it which I did today I’m here shearing a testimony about this same man Dr Ayoola help me to win $10 million dollars all thanks to you Dr I will keep taking about your good because you are a man of your word I hope people that really need this will come across it for you to help them as well. If you want to win big in lottery contact Dr Ayoola today and be rest assured of winning contact him via email drayoolasolutionhome@gmail. com or https://www.facebook.com/Dr-Ayoola-105640401516053/ text or call +14809032128

Blank User| OpenGrowth

thomasgibson802@gmail.com

15th Dec'22 08:20:38 PM

I want to use this opportunity to tell the whole world on how I become rich and famous. I’m 93 years old. I was passing through difficulty in business and there was no hope of me coming out of my debt. I borrow money in my bank to do my business and I run at lost on the business I got frustrated and decided to be playing lottery to see if I can win and make my business grow and I have played for years now nothing good is coming my way on till I meet someone online talking about Dr Ayoola on the internet. He was taking about how this Dr Ayoola help him to win mega million lottery game. I said to myself if this is true and decide to contact him and told him to help me as well I later read more about this man and see how he has been helping people all over the world. I have faith in him and choose to work with him. After working with him he told me what I need to do for the number to be given to me which I did after he finish working he said I will have a dream and the number will be review to me in the dream. That night has I was sleeping I dream a number immediately he call me and gave me the same number I dream of and ask me to go and play the number. Today I’m here testifying of the good work he did for me I played the number and I won the sum of 1, 000,000 million dollars in a lotto max. You can contact Dr Ayoola for help if you want to win big in lottery game he has the gift of giving right number contact him today and thank me email him today Via email: drayoolasolutionhome@gmail. com or https://www.facebook.com/Dr-Ayoola-105640401516053/ text or call +14809032128

Blank User| OpenGrowth

hakaungamaxwell@gmail.com

19th Nov'22 08:50:32 PM

I use to be a very poor man who has always not find luck when it comes to playing the lottery. I have been playing lottery since i was 21 years and now i am 45 meaning i have been playing lottery for 24 years. The biggest amount i have ever won in my life was 400 dollars. But one day my story turns to history after i find this man called Dr Ayoola on the Internet that he is the best when it comes to winning lottery. This man is a very strong voodoo man who gives out the numbers that can never fail. After all my years of laboring and struggling to win the lottery i finally won ( $27,000,000) Dr Ayoola is the name, Email: drayoolasolutionhome@gmail.com or contact him on his whatsApp number text or call +14809032128 this is the only way to win the lottery and the best way OR https://www.facebook.com/Dr-Ayoola-105640401516053/

Blank User| OpenGrowth

hakaungamaxwell@gmail.com

19th Nov'22 08:50:31 PM

I use to be a very poor man who has always not find luck when it comes to playing the lottery. I have been playing lottery since i was 21 years and now i am 45 meaning i have been playing lottery for 24 years. The biggest amount i have ever won in my life was 400 dollars. But one day my story turns to history after i find this man called Dr Ayoola on the Internet that he is the best when it comes to winning lottery. This man is a very strong voodoo man who gives out the numbers that can never fail. After all my years of laboring and struggling to win the lottery i finally won ( $27,000,000) Dr Ayoola is the name, Email: drayoolasolutionhome@gmail.com or contact him on his whatsApp number text or call +14809032128 this is the only way to win the lottery and the best way OR https://www.facebook.com/Dr-Ayoola-105640401516053/

Blank User| OpenGrowth

hakaungamaxwell@gmail.com

19th Nov'22 08:50:31 PM

I use to be a very poor man who has always not find luck when it comes to playing the lottery. I have been playing lottery since i was 21 years and now i am 45 meaning i have been playing lottery for 24 years. The biggest amount i have ever won in my life was 400 dollars. But one day my story turns to history after i find this man called Dr Ayoola on the Internet that he is the best when it comes to winning lottery. This man is a very strong voodoo man who gives out the numbers that can never fail. After all my years of laboring and struggling to win the lottery i finally won ( $27,000,000) Dr Ayoola is the name, Email: drayoolasolutionhome@gmail.com or contact him on his whatsApp number text or call +14809032128 this is the only way to win the lottery and the best way OR https://www.facebook.com/Dr-Ayoola-105640401516053/

Blank User| OpenGrowth

hakaungamaxwell@gmail.com

19th Nov'22 08:50:30 PM

I use to be a very poor man who has always not find luck when it comes to playing the lottery. I have been playing lottery since i was 21 years and now i am 45 meaning i have been playing lottery for 24 years. The biggest amount i have ever won in my life was 400 dollars. But one day my story turns to history after i find this man called Dr Ayoola on the Internet that he is the best when it comes to winning lottery. This man is a very strong voodoo man who gives out the numbers that can never fail. After all my years of laboring and struggling to win the lottery i finally won ( $27,000,000) Dr Ayoola is the name, Email: drayoolasolutionhome@gmail.com or contact him on his whatsApp number text or call +14809032128 this is the only way to win the lottery and the best way OR https://www.facebook.com/Dr-Ayoola-105640401516053/

Blank User| OpenGrowth

isabellalucas@gmail.com

3rd Nov'22 07:45:39 AM

My ex-husband and I had always managed to stay friendly after our divorce in February 2017. But I always wanted to get back together with him, All it took was a visit to this spell casters website last December, because my dream was to start a new year with my husband, and live happily with him.. This spell caster requested a specific love spell for me and my husband, and I accepted it. And this powerful spell caster began to work his magic. And 48 hours after this spell caster worked for me, my husband called me back for us to be together again, and he was remorseful for all his wrong deeds. My spell is working because guess what: My “husband” is back and we are making preparations on how to go to court and withdraw our divorce papers ASAP. This is nothing short of a miracle. Thank you Dr Emu for your powerful spells. Words are not enough. Email emutemple@gmail.com Phone/WhatsApp +2347012841542.

Blank User| OpenGrowth

olivialucas293@gmail.com

19th Oct'22 08:23:53 AM

Hi Everyone Join me as I share the wonderful work of Dr Kachi to say thank you for always making people smile with Lottery Winning Number Dr Kachi, who help me win a lot of money few weeks ago on lottery spell, I love playing lottery but I have never won, and i always have believe that I will win a huge amount in lottery game someday, I search online how to win a lottery and faithfully i came across Dr Kachi website: https://drkachispellcast.wixsite.com/my-site when someone was testifying how Dr Kachi helped him to win a lottery Mega Millions, i contacted Dr Kachi and told him I need the lottery winning number to win my game. he gave me lucky winning numbers and tell me to go play my game Dr Kachi also instructed me on how to go about it, after played my Mega millions lottery ticket on Friday and to my greatest surprise my name came out as a winner, i won $60,000,000.00, Mega Millions i have never seen such money all my life, but with the help of Dr Kachi now i have that much. If you need lotto winning number do not give up contact him or you want money solution and become RICH just visit Dr Kachi: Email: drkachispellcast@gmail.com Call and WhatsApp number: +1 (209) 893-8075

Blank User| OpenGrowth

olivialucas293@gmail.com

19th Oct'22 08:20:54 AM

Hi Everyone Join me as I share the wonderful work of Dr Kachi to say thank you for always making people smile with Lottery Winning Number Dr Kachi, who help me win a lot of money few weeks ago on lottery spell, I love playing lottery but I have never won, and i always have believe that I will win a huge amount in lottery game someday, I search online how to win a lottery and faithfully i came across Dr Kachi website: https://drkachispellcast.wixsite.com/my-site when someone was testifying how Dr Kachi helped him to win a lottery Mega Millions, i contacted Dr Kachi and told him I need the lottery winning number to win my game. he gave me lucky winning numbers and tell me to go play my game Dr Kachi also instructed me on how to go about it, after played my Mega millions lottery ticket on Friday and to my greatest surprise my name came out as a winner, i won $60,000,000.00, Mega Millions i have never seen such money all my life, but with the help of Dr Kachi now i have that much. If you need lotto winning number do not give up contact him or you want money solution and become RICH just visit Dr Kachi: Email: drkachispellcast@gmail.com Call and WhatsApp number: +1 (209) 893-8075

Blank User| OpenGrowth

jasonbennett355@gmail.com

18th Oct'22 10:30:04 PM

Omg I Finally Got Helped !! I'm so excited right now, I just have to share my testimony on this Forum.. The feeling of being loved takes away so much burden from our shoulders. I had all this but I made a big mistake when I cheated on my wife with another woman and my wife left me for over 4 months after she found out.. I was lonely, sad and devastated. Luckily I was directed to a very powerful spell caster Dr Emu who helped me cast a spell of reconciliation on our Relationship and he brought back my wife and now she loves me far more than ever.. I'm so happy with life now. Thank you so much Dr Emu, kindly Contact Dr Emu Today and get any kind of help you want.. Via Email emutemple@gmail.com or Call/WhatsApp cell number +2347012841542

Blank User| OpenGrowth

robertmorrison744@gmail.com

30th Aug'22 08:59:48 AM

READ MY REVIEW HOW I WIN $158m CONTACT DR KACHI NOW FOR YOUR OWN LOTTERY WINNING NUMBERS. I was a gas station truck driver and I always playing the SUPER LOTTO GAME, I’m here to express my gratitude for the wonderful thing that Dr Kachi did for me, Have anybody hear of the professional great spell caster who help people to win Lottery and clear all your debt and buy yourself a home and also have a comfortable life living. Dr Kachi Lottery spell casting is wonders and work very fast. He helped me with lucky numbers to win a big money that changed my life and my family. Recently i won, ONE HUNDRED AND FIFTY EIGHT MILLIONS DOLLARS, A Super Lotto ticket I bought in Oxnard Liquor Store, I am so grateful to meet Dr Kachi on internet for helping me to win the lottery and if you also need his help, email him at: drkachispellcast@gmail.com and he will also help you as well to win and make you happy like me today. His WhatsApp number: +1 (570) 775-3362 visit his Website, https://drkachispellcast.wixsite.com/my-site

Blank User| OpenGrowth

robertmorrison744@gmail.com

30th Aug'22 08:54:41 AM

READ MY REVIEW HOW I WIN $158m CONTACT DR KACHI NOW FOR YOUR OWN LOTTERY WINNING NUMBERS. I was a gas station truck driver and I always playing the SUPER LOTTO GAME, I’m here to express my gratitude for the wonderful thing that Dr Kachi did for me, Have anybody hear of the professional great spell caster who help people to win Lottery and clear all your debt and buy yourself a home and also have a comfortable life living. Dr Kachi Lottery spell casting is wonders and work very fast. He helped me with lucky numbers to win a big money that changed my life and my family. Recently i won, ONE HUNDRED AND FIFTY EIGHT MILLIONS DOLLARS, A Super Lotto ticket I bought in Oxnard Liquor Store, I am so grateful to meet Dr Kachi on internet for helping me to win the lottery and if you also need his help, email him at: drkachispellcast@gmail.com and he will also help you as well to win and make you happy like me today. His WhatsApp number: +1 (570) 775-3362 visit his Website, https://drkachispellcast.wixsite.com/my-site

Blank User| OpenGrowth

kart

21st Jun'22 03:00:35 AM

Read my testimony Hello Everyone, I'm Jamuna Gurung, i am from Melbourne, i am 45 years of age an entrepreneur. I once had difficulties in financing my project/business.If not for a good friend of mine who introduced me to SKY EXPERIENCE LOAN COMPANIES to get a loan worth $250,000 USD from his company. When i contacted them it took just 48 hours to get my loan approved and transfer to my account after meeting all their modalities i to their loan agreement/terms and conditions. Even if you have bad credit they still offer there service to you. They also offer all kinds of loan such as Business loan,Home loan,Personal loan,Car loan,Loan for Business start up and Business Expansion. i don't know how to thank them for what they have done for me but God will reward Mr peter, If you need an urgent financial assistance you can contact them visit their website or email ( https://skyexperienceloan.com) contact@skyexperienceloan.com

Blank User| OpenGrowth

kart

21st Jun'22 03:00:34 AM

Read my testimony Hello Everyone, I'm Jamuna Gurung, i am from Melbourne, i am 45 years of age an entrepreneur. I once had difficulties in financing my project/business.If not for a good friend of mine who introduced me to SKY EXPERIENCE LOAN COMPANIES to get a loan worth $250,000 USD from his company. When i contacted them it took just 48 hours to get my loan approved and transfer to my account after meeting all their modalities i to their loan agreement/terms and conditions. Even if you have bad credit they still offer there service to you. They also offer all kinds of loan such as Business loan,Home loan,Personal loan,Car loan,Loan for Business start up and Business Expansion. i don't know how to thank them for what they have done for me but God will reward Mr peter, If you need an urgent financial assistance you can contact them visit their website or email ( https://skyexperienceloan.com) contact@skyexperienceloan.com

Blank User| OpenGrowth

Nath Mary

2nd Apr'22 02:57:03 PM

I'm so happy to share this with you that can read / see this now. When I started trading binary and forex a few months ago, I really didn't have the necessary tools to trade and I lost a lot until I met Pablo Martinez who taught me all about market psychology as he managed my account for me. Today I am grateful to him for his great offer and help because it really changed my financial situation with an investment capital of $1500 and now I'm earning around $35,500 - $30,000 profits per week. Here is his WhatsApp no: +44 7520 636249 or his email address: pm7234029@gmail.com Https://www.facebook.com/PM-Fast-Trade-104912912155335/