CarbonFarm Technology, a climate tech startup based in France, has raised €2.5 million as seed funding. Leading the way was Racine , collaborating with Serena and Makesense. Additionally, AgFunder, BPI France, Ponderosa Ventures, TechMind, and Climate Capital took part in the funding.
According to CarbonFarm Technology, the investment will support the organization’s goal of growing lucrative and sustainable rice farming and production operations all through South America, Asia, and Africa—regions known for having a large amount of acreage suitable for growing rice for domestic and international consumption.
Vassily Carantino, CEO of CarbonFarm Technology, says, “Our vision of the world is one where farmers would turn to regenerative practices, not out of goodwill, but because it is more profitable.”
The main objective of CarbonFarm Technology is to decarbonize rice production and farming, two agricultural practises whose shockingly high carbon footprints have alarmed climate scientists.
With an emphasis on end-to-end support, CarbonFarm Technology offers farmers and agribusinesses easy access to carbon markets as well as project design, satellite-based MRV, certification, and credit sales management.
Additionally, the firm works with corporations to offer reliable, satellite-verified, registry-certified reductions in carbon emissions certificates. The majority of CarbonFarm Technology’s technology resources, which are used for precisely recording each rice field’s carbon emissions, are satellite and artificial intelligence.
Over the past year, the company has swiftly expanded its operations, working on groundbreaking efforts throughout major rice-producing regions in Vietnam, India, Spain, Portugal, and Ghana with industry heavyweights like Mars Food, Danone, and Ebro.
The world has to achieve net-zero emissions by 2050. Today, 20% of greenhouse gas emissions worldwide are caused by agriculture. Farmers who decrease their emissions receive incentives by carbon investors, who recognise the need of doing so.
But openness is necessary for this. Openness about the techniques farmers are using and the emissions they produce. CarbonFarm provides this openness using artificial intelligence and satellite data.