India, May 22 -- Deeptech startup Alt Carbon has raised $12 Mn (around INR 102.8 Cr) in a seed funding round led by San Francisco-based AI robotics company Physical Intelligence's founder and chief executive, Lachy Groom.

The round also saw participation from Shastra VC and a clutch of angel investors, including Jason Zhao (PIP Labs), Amrendra Singh (DeHaat), Tanmay Bhat (Indian YouTuber), Arjun Soin (Clinikally), Nakuul Mehta (Actor), Arjun Ramani (Journalist) , Advaith Vishwanath (SuperShare) and Rahul Seth (Industrial47).

The Bengaluru-based startup plans to deploy the freshly raised capital in building new projects which enable carbon dioxide removal (CDR) across South Asia. Besides, the company will spend on research and developmen...