NCX (formerly known as SilviaTerra), a San Francisco, CA-based science-driven forest carbon marketplace delivering large-scale, immediate impact for climate and communities, raised $50m in Series B financing.
The round was led by Energize Ventures with participation from J.P. Morgan, Intercontinental Exchange (ICE), Dalus Capital, Clearvision Ventures and existing backers Scribble Ventures, and Marc Benioff’s TIME Ventures. In conjunction with the funding, Katie McClain, partner at Energize Ventures, joined NCX Board of Directors.
The company intends to use the funds for expansion outside of the United States in addition to the formation of new natural capital markets created to serve the growing $1 billion voluntary carbon market.
Led by Zack Parisa, Co-founder and CEO, NCX monetizes the benefits of forest stewardship through its natural capital marketplace. By using high integrity data and measurements to generate carbon credits, NCX is enabling corporations to meet net-zero goals with high quality offsets that support landowners of all sizes. In its first year of the exchange, NCX generated participation from 2,470 landowners with a collective 4.3 million acres across 39 states.
Carbon credit buyers incentivising the delayed harvest of forests through the NCX marketplace include Microsoft, Rubicon, South Pole, Incyte, and others.
FinSMEs
02/03/2022