Arbonics, a Tallinn, Estonia-based provider of a forest carbon removal platform, raised €5.5M in Seed funding.
The round, which brought the total amount to $7.3M, was led by NordicNinja, Plural and Tilia Impact Ventures.
The company intends to use the funds to further develop its product portfolio to cover the entire forestry lifecycle, grow its team, and expand to cover 50% of European forests next year.
Founded in 2022 by CEO Kristjan Lepik and COO Lisett Luik, Arbonics is a climate tech startup that brings together the worlds of forestry and technology to fight climate change. Its platform combines 30+ layers of data – from on-the-ground sensors to soil readings and satellite imagery – with in-house ecology and forestry expertise, to remotely, and accurately, calculate the carbon removal potential of land in European countries. It can determine everything from which trees are needed to reach the land’s potential, to establishing their carbon impact, in seconds.
Launched in late 2022, the company works with 4,000 landowners, planting 4 million+ trees across European markets and its solution is used by a growing number of multinational organisations.
FinSMEs
14/12/2023