The San Francisco-based company, which helps companies measure their carbon footprint and purchase carbon removal and offsets, said the round was led by Coatue Management. Existing investors Andreessen Horowitz, Vancouver’s Version One and Pale Blue Dot also participated. (The Logic)

Talking point: The company, co-founded by Canadian Aaron Grunfeld, previously raised US$5.7 million across two seed rounds, according to PitchBook. When it announced its last round in February, the company had three carbon-removal suppliers based in Canada, including CarbonCure in Halifax, out of 11 total. It now provides access to more than 40 projects. As of February, six Canadian companies used Patch, making up just under 50 per cent of its committed and active users. Patch had four employees based in three Canadian cities and was planning to “get the team a centralized location to work out of when it’s safe to do so.”