Former WeWork CEO Blockchain Startup Flowcarbon Raises $70 Million

Flowcarbon, a startup co-founded by former WeWork CEO Adam Neumann, has raised $70M to build a blockchain carbon credit market.

The round was led by Andreessen Horowitz (a16z). The startup has also received support from General Catalyst, Samsung Next, Invesco Private Capital and other investors. Fifth Wall, Box Group and Celo Foundation have become participants of the token sale conducted by the company.

According to the press release:

“Flowcarbon’s mission is to direct billions of dollars directly to projects that reduce or remove carbon emissions from the atmosphere by creating the first open protocol for the tokenization of certified carbon credits worldwide.”

The startup will provide project developers with direct access to the market of buyers interested in their loans through the blockchain.