Quild #11: Patch.io

Stripe for negative carbon emissions

This is the Quild daily, highlighting one early-stage startup that has statistically significant signals of becoming a unicorn.

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Patch is the platform for negative emissions. Businesses can leverage their API to programmatically calculate emissions and make any transaction climate positive.

Founders: Aaron Grunfeld, Brennan Spellacy (CEO)

Signals:

1. Venture-backed experience

   • Aaron was the first employee at Sonder (NYSE:SOND), backed by the likes of Spark Capital and Greylock, and stayed for 6 years

   • Brennan was a product manager at Sonder for 4 years

2. Top university graduate

   • Brennan graduated with BEng Chemical Engineering from McGill University

3. Institutional financing within a year of founding

   • Founded early 2020 and announced seed funding in February 2021

4. Fast team growth

   • Grew ~2x from 15 to 28 over the past year

5. Midas list investors

   • a16z led seed

   • Coatue led series A

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Till tomorrow, Kenn