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2024-02-26 00:00:00
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Estonian GreenTech innovator, Arbonics, has successfully raised €5.5M to advance its cutting-edge forest carbon platform, a pivotal step in combating climate change. The seed funding round, led by NordicNinja, Plural, and Tilia Impact Ventures, boosts Arbonics' total funding to over €7.3M, fueling its vision to revolutionize the forest economy. "This funding propels us not just as a business but as a force for substantial environmental impact," states CEO Kristjan Lepik.
Co-founded in 2022 by Kristjan Lepik and Lisett Luik, Arbonics has developed a premier system enabling carbon credit earnings. Targeting investors in forestry and serving thousands of landowners, the platform quantifies the ecological benefits of their lands.
In line with the Paris Agreement's objectives, Arbonics harnesses the power of forests in climate change mitigation, potentially contributing up to 30% of the global requirement. Forests hold a special place in Estonia, covering nearly half the country and contributing to its exceptional air quality. Arbonics' platform blends over 30 layers of data, including ground sensors, soil analyses, and satellite imagery, to precisely assess a land's carbon sequestration capacity. This includes selecting optimal tree species for maximum carbon absorption and providing immediate carbon impact insights.
Since its inception, Arbonics has partnered with over 4,000 landowners, facilitating the planting of over 4 million trees across Europe. The company's goal is to extend its reach to 50% of Europe’s forests by the end of 2024. Their innovative approach has already unlocked new revenue sources for landowners, analyzing over 200,000 hectares of land.
Investors emphasize the urgency of the initiative. “Technological carbon removal solutions take time, a luxury we don't have. By combining technology with nature, as Arbonics does, scalable solutions can be realized within this decade,” notes Taavet Hinrikus, Partner at Plural and founder of Wise.
The new funding will enable Arbonics to enhance its product range, covering the entire forestry lifecycle, expand its team, and conduct more extensive biodiversity impact assessments. Plans also include forming a scientific advisory board with top scientists and recently, the company garnered accolades from the Mastercard Lighthouse program.
Arbonics is not only focusing on afforestation in the Baltics and Finland but is also extending its services to existing forests, meeting the growing demand from landowners in and outside Europe.
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