Axios Pro: Climate Deals

September 16, 2022

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1. a16z, Coatue place carbon-software bet

CO2 overlaid on US dollar bill format
Illustration: Sarah Grillo/Axios

Sept. 13 — Patch, a carbon-market software startup, raised $55 million in Series B funding from Andreessen Horowitz, Energize Ventures, and Coatue, the company told Megan.

Why it matters: The involvement of heavy hitters a16z and Coatue in the round show the level of interest in the carbon-software space, as parts of the climate-tech industry move from asset-heavy hardware plays to the more VC-friendly SaaS model.

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Plus: ⌨️ Tuesday's Pro Rata, with news on Unity Software/AppLovin.

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