Equinor Ventures Invests in Patch
Via the Energize Ventures Fund II, Equinor Ventures is investing in Patch, a digital backbone for carbon markets and other regulated emissions. Patch Raises $55M Series B, Embedding Climate Action Directly Into the Global Economy.
Headquartered in San Francisco California, Patch’s platform enables businesses of any size and budget to easily purchase carbon credits as a means of taking climate action. The company’s digital infrastructure is transforming a traditionally complex and opaque system for purchasing carbon credits, into a more transparent, simple, and fluid marketplace. Patch also provides those developing the climate solutions with the digital solutions they need to grow and scale their businesses, facilitating impactful transactions on the voluntary carbon market - which could become a $100+ billion market by 2050. Today, Patch has more than 100 corporate customers spanning e-commerce to financial services.
Energize Ventures is leading the $55 million Series B round in Patch with other new investor participation from B Capital Group, AENU, Blue Impact, Andrew Robb, Frank Slootman, GIC, and MCJ Collective, as well as existing investor participation from Coatue Management, Version One Ventures and Andreessen Horowitz - bringing the company to a total of $80 million in funding to date. This marks Equinor Ventures’ first investment via Energize Ventures.