CarbonFarm raises €7 million for rice emissions technology
The company plans to build its presence in Europe, Asia and Africa and expand into Latin America following a Series A round led by Colam Impact.
CarbonFarm has secured €7 million in Series A financing to develop its rice emissions monitoring technology and support projects internationally. The oversubscribed round was led by Colam Impact, and the company's expansion plans include strengthening its European presence.
Other participants included Bpifrance, Albo, Working Capital Fund, elea, Suma Capital and Proparco. Returning investors included Techmind, alongside Serena and makesense through Racine².
The company combines satellite image analysis using AI with tools for collecting field data and models of greenhouse gases. It uses these systems to track agricultural practices and estimate emissions for individual fields, providing information for carbon credit certification and corporate supply-chain emissions reporting.
CarbonFarm also helps partners develop and finance projects, obtain certification and reach carbon credit buyers. Its partners include rice growers, cooperatives, agricultural businesses, NGOs, governments and local project developers. Co-founder and CEO Vassily Carantino said the company's approach was to equip existing local businesses and organisations rather than replace them.
CarbonFarm says its operations now cover 19 countries, following expansion since its previous financing round. It plans to put the new capital towards further technology development and project support, as well as building its presence in Asia and Africa and accelerating its move into Latin America.
