Estonian Arbonics secures €5.5M to scale its forest-carbon removal platform
Tallinn-based Arbonics, the naturetech startup, has secured a €5.5 million in a seed investment from NordicNinja, Plural, and Tilia Impact Ventures. The investment will allow Arbonics to continue scaling its climate change solution.
- Founded by Kristjan Lepik and Lisett Luik, Arbonics provides a carbon and ecosystem platform that combines over 30 layers of data – from on-the-ground sensors to soil readings and satellite imagery, providing ecology and forestry expertise, to calculate the carbon removal potential of land. The startup claims it can determine everything from which trees are needed to reach the land’s potential, to establishing their carbon impact, in seconds.
- Arbonics works with 4,000 landowners through analysis of over 200,000 hectares and the planting of more than 4 million trees across multiple European markets. The platform has strategic partnerships with Swedbank, which launched a product with Arbonics to finance planting new forests.
- The fresh investment was co-led by NordicNinja, Japanese-backed VC based in Helsinki, Plural, US-based venture community, and Tilia Impact Ventures, Czech seed stage impact VC fund. Last year, the company raised €1.8 million in a pre-seed funding.
“With this recent funding we’re poised to make a significant impact, not just as a business but as a catalyst for meaningful change. This year has been tough on the carbon markets, and with concerns around the Voluntary Carbon Market but it’s exactly what it needed to mature. It proved just how important it is for the market to be more transparent and proven for forest carbon projects, and at Arbonics, that’s what we’re building.”Arbonics CEO Kristjan Lepik, said.
- The funding will also see Arbonics add further layers of impact assessments for biodiversity, triple its team, and expand to cover 50% of European forests in 2024.