Independent carbon credit standard and registry, RenewCred, has secured equity and grants totalling ₹42.5 million (~$471,000) in a seed funding round.

The funding will be used to develop a fully digital, science-led carbon credit standard and registry for the voluntary carbon market.

The funding round was led by Campus Angels Network and included participation from Kairos Early Opportunity Fund, build3 Startup Studio, VentureStudio at Ahmedabad University,

The round also saw participation from Ideashacks Investor Network, ACT Capital Foundation, Social Innovation Lab by CITI Bank-IIT Kanpur, and angel investors.

The company is building the core market infrastructure for high-integrity carbon credit with a focus on biochar, electric vehicle fleets, renewable energy, methane reduction, clean fuels, and industrial decarbonization.

It aims to remove 2 gigatons of greenhouse gas emissions from the atmosphere in the next 14 years.

Through its proprietary digital platform, Net Zero, RenewCred enables continuous monitoring, reporting, and verification (digital MRV) at the level of each credit issued.

The company’s platform integrates live data streams, scientific models, and automated checks to reduce verification timelines by 75% and lower transaction costs by over 50%.

It is scheduled to issue its first set of carbon credits in the fourth quarter of the financial year  2026.

The company added that in the next 9-12 months, it will focus on expanding its library of non-nature-based carbon credit methodologies, scaling the Net Zero digital MRV and registry platform, and growing its science network and sector-specific expertise.

Boosting the growth of the carbon credit system in India, the Ministry of Environment, Forest, and Climate Change constituted the National Designated Authority to implement Article 6 of the Paris Agreement and establish mechanisms for carbon markets. It establishes the institutional framework to oversee the evaluation, approval, authorization, and regulation of projects and emission-reduction units under Article 6 of the Paris Agreement, which governs international cooperation through market and non-market mechanisms.

Recently, the Delhi Government approved a proposal to implement a Carbon Credit Monetization Framework to convert the city’s green projects into revenue-generating assets to support pollution control and sustainability efforts. Under the framework, every verified reduction of one metric ton of CO2-equivalent from Delhi’s climate initiatives would generate a tradable carbon credit that can be sold in voluntary or compliance carbon markets globally.