Heirloom Raises $53M In Series A Funding

HeirloomThe San Francisco-based company, Direct Air Capture, permanently removes CO2The atmosphere raised $53M in Series B funding. Carbon Direct Capital Management, Ahren Innovation Capital and Breakthrough Energy Ventures co-led the round, which also included participation from The Microsoft Climate Innovation Fund. The Series A financing also includes investments from climate funds and entrepreneurs, including Breyer Capital, Grantham Environmental Trust, Chris Sacca’s Lowercarbon Capital, Marc Benioff’s TIME Ventures, Carbon Removal Partners, and Seven Seven Six. Heirloom also received grant funding over the past year from the ARPA-e as well as the National Science Foundation. Alice Newcombe-Ellis of Ahren will join Heirloom’s board of directors. The funds will be used by the company for research and development and their first deployment. Led by Shashank Samala, Co-founder and CEO, Heirloom is using abundant and affordable minerals, a modular system, and leverages mature technology and infrastructure to enhance natural processes to help minerals absorb CO2 from ambient air in days rather than years. The company’s mission is to remove 1 billion tons of CO2 from the atmosphere by 2035.