Swiss fund Blue Earth Capital led the round, while existing investors including Bill Gates’s Breakthrough Energy Ventures, Amazon’s Climate Pledge Fund and the Microsoft Climate Innovation Fund also participated. (The Logic)

Talking point: CarbonCure, which injects CO2 into concrete as a way to store carbon and lower emissions, had been targeting the fundraise since 2021. CEO Rob Niven said at the time that the company was also eyeing a potential initial public offering. Earlier this year, CarbonCure demonstrated its ability to store CO2 in concrete in the form of calcium carbonate, and the Halifax-based company’s progress has attracted support from Silicon Valley tech funds linked to billionaires such as Jeff Bezos. In a press release, the company said its technologies have already been used to develop nearly five million truckloads of carbon concrete, equivalent to taking 64,000 cars off the roads per year.