On December 19, 2023, Parallel Carbon Inc. closed the transaction. The company has received $3,624,993 in funding from seven investors pursuant to regulation D. The company has received $3,600,000 in a round of funding led by new investor Aramco Ventures. The transaction included participation from new investors Axon Partners Group, S.A., DNX Ventures, LLC, VOYAGERS.io Ltd, Rumbo Ventures returning investor Counteract Partners Ltd. and angel investor Andrew MacKay.