Agreena, a Copenhagen, Denmark-based provider of a soil carbon platform, raised €46M in Series B funding.
The round was led by HV Capital with participation from AENU, Anthemis, Gullspång Re:food, Kinnevik and Denmark’s Export and Investment fund.
The company intends to use the funds to expand its development efforts and business reach.
Led by CEO Simon Haldrup, Agreena is focused on soil carbon removals and natural capital to finance the transition to regenerative agriculture. Working in close collaboration with partner farmers across 16 European markets and growing, the company provides AgreenaCarbon, a soil carbon platform that, combined with satellite monitoring technologies, support farmers, companies, and governments on the road to net zero.
Via the platform, farmers plan, track and validate improvements for their regenerative journey, in the process of transitioning from emitting CO2 to drawing CO2 down and storing it within their soils. On the other side of the equation, its certificates and downstream services support climate-focused companies already working to decarbonize, as well as companies in the food supply chain increasingly requiring field-level traceability of their agricultural commodities to comply with Scope 3 reporting requirements.
The recent acquisition of remote sensing company Hummingbird Technologies has enabled the company to expand its offering beyond farmers to encompass agridata services for supply chain players, governments, and other institutions. Prioritizing a science-based and technology-first agenda, Agreena’s platform now incorporates an AI-based monitoring and verification solution that utilizes satellite imagery, coupled with ground bdata and machine learning to identify and report on-farm regenerative agriculture practices.
Since the company’s €20M Series A one year ago, Agreena has scaled its activities 10X, expanded its geographic presence to cover farmland in 16 European countries, and partnered with farms to help them transition more than 600.000 hectares towards climate-positive, regenerative farming. Only in Romania, the company manages over 70.,000 ha, and in the Republic of Moldova 170.000 ha.
FinSMEs
30/03/2023