TechFlow, the blockchain carbon credit trading platform Flowcarbon has raised $70 million in a new funding round led by a16z, with participation from General Catalyst and Samsung Next. Of this amount, $32 million was raised through equity financing and $38 million through token sales.
Backed by Adam Neumann, co-founder of WeWork, Flowcarbon enables project developers to tokenize, store, and trade carbon credits using blockchain technology, helping them access lower-cost capital and scale projects more quickly.
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