Published on: February 6, 2019
SERA WONG, BETAKIT
Svante Raises $21 Million CAD in Series C, Looks to Raise $6.5 Million More
Carbon capture technology company, Svante (formerly Inventys) announced that it has raised a total of $21 million CAD out of a total round of $27.5 million CAD in a series C. The round was led by OGCI Climate Investments.
Svante is looking to secure an additional $6.5 million CAD during the series C round, before the end of June in order to commercialize its first industrial-scale CO₂ capture plant by 2020.
Part of the series C funding round includes a $6.5 million CAD investment from the Business Development Bank of Canada’s (BDC) Cleantech Practice, as well as a follow-on investment from current shareholder Chevron Technology Ventures.