# Twelve Benefit Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/twelve-benefit

- Industry: Environmental Services
- Headquarters: Berkeley, US
- Website: www.twelve.co
- Total disclosed funding: $450M
- Latest round: Series C (Feb 13, 2025)
- Investors on record: 26

## About

Based in California, US, Twelve Benefit Corporation is a pioneering company focused on sustainable transformation through innovative fuel and material solutions. Twelve Benefit Corporation specializes in carbon transformation technologies, founded in 2015. The company was established by co-founders Etosha Cave, Kendra Kuhl, Nicholas Flanders (also CEO), and Sarah Couturier. In May 2025, Twelve Benefit Corporation raised a venture funding from United Airlines Ventures. In total, the company has completed 16 deals to date. 

Twelve’s core offerings include E-Jet Sustainable Aviation Fuel (SAF), CO2Made products, and its AirPlant molecule factory platform. E-Jet SAF is a drop-in sustainable aviation fuel designed for use as an alternative to conventional jet fuel. CO2Made products focus on replacing oil-derived materials in consumer and industrial applications using CO2 as a feedstock. The AirPlant platform functions as a carbon-to-molecules production system that converts captured CO2 into hydrocarbons using renewable electricity.

The company primarily generates revenue through B2B partnerships and product sales, including collaborations with aviation and manufacturing partners. The company will use the May 2025 investment to commercialize its sustainable aviation fuel technology and advance development of its first eSAF production facility, AirPlant One.

## Funding rounds

- Series C, Feb 13, 2025, $83M — Greycroft, Amazon, DCVC, Development Bank of Japan, Mitsui & Co., CSC Leasing Company, Sumitomo Mitsui DS Asset Management, Toppan Global Venture Partners, Fundamental Advisors, MOL Switch
- Series C, Sep 19, 2024, $200M — TPG, Capricorn Investment Group, DCVC, Munich Re Ventures, Fifth Wall Ventures, Emerson Collective, Northstar, Alaska Star Ventures, Toppan Global Venture Partners, Pulse Fund
- Series B, Mar 23, 2022, $110M — Capricorn Investment Group, DCVC, Breakout Ventures, Munich Re Ventures, Elementum Ventures, Chan Zuckerberg Initiative, Carbon Direct Capital, Microsoft Climate Innovation Fund
- Series A, Jul 8, 2021, $57M — Capricorn Investment Group, DCVC, M12, Breakout Ventures, Evok Innovations, Munich Re Ventures, Carbon Direct Capital
- Seed, Oct 11, 2016, $0.3M — Breakout Ventures, GVA Capital

## Investors

- Breakout Ventures (https://capitalatlas.ai/funds/breakout-ventures) — Seed, Series A, Series B
- GVA Capital (https://capitalatlas.ai/funds/gva-capital) — Seed
- Capricorn Investment Group (https://capitalatlas.ai/funds/capricorn-investment-group) — Series A, Series B, Series C
- DCVC (https://capitalatlas.ai/funds/dcvc) — Series A, Series B, Series C
- M12 (https://capitalatlas.ai/funds/m12) — Series A
- Evok Innovations (https://capitalatlas.ai/funds/evok-innovations) — Series A
- Munich Re Ventures (https://capitalatlas.ai/funds/munich-re-ventures) — Series A, Series B, Series C
- Carbon Direct Capital (https://capitalatlas.ai/funds/carbon-direct-capital) — Series A, Series B
- Elementum Ventures (https://capitalatlas.ai/funds/elementum-ventures) — Series B
- Chan Zuckerberg Initiative (https://capitalatlas.ai/funds/chan-zuckerberg-initiative) — Series B
- Microsoft Climate Innovation Fund (https://capitalatlas.ai/funds/microsoft-climate-innovation-fund) — Series B
- TPG (https://capitalatlas.ai/funds/tpg) — Series C
- Fifth Wall Ventures (https://capitalatlas.ai/funds/fifth-wall-ventures) — Series C
- Emerson Collective — Series C
- Northstar (https://capitalatlas.ai/funds/northstar) — Series C
- Alaska Star Ventures (https://capitalatlas.ai/funds/alaska-star-ventures) — Series C
- Toppan Global Venture Partners (https://capitalatlas.ai/funds/toppan-global-venture-partners) — Series C
- Pulse Fund (https://capitalatlas.ai/funds/pulse-fund) — Series C
- Greycroft (https://capitalatlas.ai/funds/greycroft) — Series C
- Amazon (https://capitalatlas.ai/funds/amazon) — Series C
- Development Bank of Japan (https://capitalatlas.ai/funds/development-bank-of-japan) — Series C
- Mitsui & Co. — Series C
- CSC Leasing Company — Series C
- Sumitomo Mitsui DS Asset Management — Series C
- Fundamental Advisors — Series C
- MOL Switch (https://capitalatlas.ai/funds/mol-switch) — Series C