ADAM NEUMANN RAISED $70M FROM VENTURE CAPITALISTS
Neumann, founder and former chief executive of WeWork working with suppliers, has been named in the list of founders and investor at the start of climate change, Flowcarbon. The company sells carbon credits and keeps a transaction record in the blockchain. Flowcarbon has 35 employees and offices in Berlin, Montana and New York, the company said in a statement.
The carbon debt market is not very clear, which often leads to the sale and purchase of low quality loans with little real effect on carbon offsets. Recent efforts to integrate crypto as a means of transparency have been successful.
However, investors saw the Flowcarbon opportunity. The initiative has enhanced traditional support from sponsors such as Andreessen Horowitz's crypto arm, General Catalyst and Samsung Next. Neumann is an investor in his family office. Flowcarbon also raised money by selling its own token, called the Goddess Nature Token, which brings together certified credits issued five years ago.
Neumann, who resigned as WeWork's CEO in 2019 after the company's failure to try to give the public a first chance, helped get the idea to launch, but the company is headed by CEO Dana Gibber, COO Caroline Klatt and Phil Fogel, its chief executive. blockchain officer. Neumann's wife, Rebekah Neumann, is also listed as the founder of Flowcarbon, as is Ilan Stern, who heads their family office.
Adam Neumann told the Financial Times in March that he and his wife came up with the company name. One of his favorite words is “flow,” which reminds him of the flow of water that flows through the air.