What does Crux do?
Crux is a capital markets technology company that integrates tax credit transfers with a comprehensive suite of financing solutions. It enables developers, manufacturers, lenders, tax credit buyers, and intermediaries to unlock financing across all stages of project development and operation.
How much did they raise?
The company raised $50M in Series B funding, led by Lowercarbon Capital and joined by participants like Andreessen Horowitz (a16z), Ardent Venture Partners, CIV, New System Ventures, The Three Cairns Group, Acrew Capital, and Giant Ventures. This round brings their total funding to over $77M.
What are their plans for the money?
Crux plans to use the funds to drive its next phase of growth, expand its innovative platform, and further streamline financing for clean energy, minerals, and manufacturing projects, potentially transforming capital formation in these sectors.
What have they achieved so far?
The company has already achieved notable progress by deploying its integrated platform that simplifies tax credit transfers and financing, significantly aiding stakeholders in securing project funding.