Brazilian Carbon Capture Company Mombak Announces $30M Financing

Gunderson Dettmer represented client Mombak, a Brazil-based company focused on carbon capture, in the announcement of its $30 million new financing led by Union Square Ventures with participation from Kaszek, Bain Capital and an AXA-controlled AXA IM Alts. The company recaptures carbon emissions, including through the transformation of degraded farmland and pastures into restored Amazon rainforest using native species, then sells carbon credits generated from the captured emissions to businesses seeking voluntary offsets for their greenhouse gas emissions. The new capital will enable Mombak to scale up business operations. 

In the announcement of the transaction, Mombak Co-Founder Gabriel Silva said, “We are moving from startup to scale-up. We decided it was time to have a new capital round to invest in this new phase: taking our initial business and doing it in a much larger scale.”

The Gunderson deal team was led by Brian Hutchings and included Rafael Bellaver.

Companies
Mombak
Union Square Ventures
Kaszek
Bain Capital
AXA IM