South Korean Startup LD Carbon Raises $28M Funding

LD Carbon, a South Korea-based company, has raised $28 million in a Series C funding round led by Toyota's growth fund, Woven Capital, to expand its tire recycling operations. The company utilizes pyrolysis technology to convert old tires into carbon black and pyrolysis oil, catering to the automotive industry's need for sustainable materials. This funding round represents a significant step towards commercializing eco-friendly technologies for tire recycling and material recovery. LD Carbon plans to use the investment to scale its production capacity and establish new pyrolysis plants in different regions, aiming to support automakers in meeting recycled content requirements amidst growing environmental concerns.