Climate Insider Brief:
- Estonian carbon removal startup, Arbonics, has secured €5.5 million ($6 million) in seed investment from climate tech venture capitalists including NordicNinja, Plural, and Tilia Impact Ventures.
- Arbonics employs a sophisticated platform that combines 30+ layers of data, on-the-ground sensing, soil readings, satellite imagery, and ecological expertise to remotely assess the carbon removal potential of European land.
- Arbonics has already assisted 4,000 landowners in unlocking new revenue streams through the analysis of over 200,000 hectares and the planting of 4 million+ trees across European markets.
PRESS RELEASE – December 18, 2023 – A new Estonian carbon removal startup announced a successful funding round to help it accelerate its solutions for supporting forest projects. Arbonics is a company founded in 2022 that has raised €5.5 million ($6 million) to scale its forest-carbon removal platform that helps landowners create afforestation and forest management projects.
The seed investment comes from climate tech VCs: NordicNinja, Plural and Tilia Impact Ventures. It brings the total company’s funding to €7.3 million ($8 million). It will accelerate Arbonics’ capacity to add further layers of impact assessments for biodiversity, triple its team and build out its work with leading scientists with the launch of a scientific advisory board.
Arbonics develops a platform that determines a variety of land-related opportunities as it combines 30+ layers of data. It performs on-the-ground censoring, soil readings, satellite imagery, in-house ecology and forestry expertise that can calculate the carbon removal potential of land in European countries remotely. It can determine in seconds everything from which trees are needed to reach the land’s potential, to establishing their carbon impact.
The company brings a new standard when it comes to the reliability of forest carbon removal projects and shows how transparent, scalable, and impactful they can be in addressing such problems often associated with nature-based projects in the voluntary carbon markets.
In its essence, it helps landowners who want to assess their land and its potential to generate carbon credits as well as increase awareness of its environmental benefits.
According to the company’s announcement, it has already helped 4,000 landowners unlock new revenue sources through analysis of 200,000+ hectares and the planting of 4 million+ trees across European markets. It claims it wll cover 50% of Europe’s forest by the end of 2024.
“With this recent funding, we’re poised to make a significant impact, not just as a business but as a catalyst for meaningful change. This year has been tough on the carbon markets, and with concerns around the Voluntary Carbon Market but it’s exactly what it needed to mature… Our tech stack is designed to elevate the nature-based removals industry, setting a new standard for what can be achieved when forests and technology work in harmony. With the support of our latest investors, we can continue building what we consider to be the future of transparent carbon removal,” said Arbonics CEO Kristjan Lepik.
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SOURCE: Carbon Herald
Featured Image: Credit: Arbonics
