Diligence memo · auto-generated · as of July 2, 2026
Carbon 38, Inc.
Carbon 38, Inc. looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Carbon 38, Inc. operates in Other, based in LOS ANGELES.
Sector still resolves to a broad 'Other' bucket, so operating comparables below are weaker than for a tightly-classified peer.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Carbon 38, Inc. has raised $21M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $17M on 2018-01-19.
Most recent recorded round closed around 2018-01-19.
Valuation (modeled)modeled
Provath models Carbon 38, Inc. at approximately $279M (range $42M–$1.1B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 0.84× the median modeled value of Series B Other companies in 2016–2018 (298 peers) — value vs value, same stage and era. Within the normal band (84% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 29 months.
Last raise 8.4 yr ago; this sector typically re-raises about every 11 months.
Silent for over 3× the sector's normal cadence.
The last round stepped up 3.8× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 86% of Other peers (25015 compared).
Modeled value ranks above 91% of those peers.
Closest niche peers: EIP Investment Holdings, LLC, HD MSouth Holdings, LLC, Aston Holding Corp., AirClean Holdings, Inc., Westminster Virginia LP.
Peoplefiled
9 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
Broad sector classification weakens peer comparison.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.