Flowcarbon Refunds Investors After Delaying Carbon Credit Token Launch

Flowcarbon, the climate tech startup founded by former WeWork CEO Adam Neumann, has begun refunding investors after failing to launch its Goddess Nature Token (GNT) as expected.

- The company raised $70 million in 2022, with backing from major investors including Andreessen Horowitz, General Catalyst, and Samsung Next.

- At least $38 million of the funds raised came from GNT sales, but it’s unclear whether that includes retail buyers.

- Flowcarbon planned to create a carbon credit-based token that would trade on the Celo blockchain. However, the startup has struggled due to market conditions and pushback from carbon registries.

- The company has kept the refunds secret and required investors to sign a liability waiver.

Flowcarbon is still going strong, though, announcing its upcoming CarbonSmart conference on September 23. 🌍