Climate solutions startup CarbonEthics obtains US$2.1 million in seed funding
It will use the funds to enhance its portfolio, secure more carbon projects and recruit top-tier technical experts
CLIMATE solutions developer CarbonEthics has secured US$2.1 million in a seed funding round led by venture capital firm Intudo Ventures.
The Indonesia-based startup said on Wednesday (Sep 18) that it will use the funding to enhance its portfolio, secure more carbon projects and recruit top-tier technical experts to better serve its clients.
It aims to restore 8 million hectares (ha) of land under management and deliver more than 160 million tonnes of carbon dioxide equivalent impact by 2030, while creating a sustainable economy for locals and restoring biodiversity.
Founded in 2019, CarbonEthics started off developing expertise in blue carbon ecosystems before broadening its scope to include peatland and green ecosystems.
It now provides tech-enabled solutions to help organisations meet their climate goals, restore natural ecosystems and create social impact.
These include nature-based carbon projects focused on ecosystem and biodiversity protection, and enhancing the livelihoods of communities alongside tree planting efforts to rehabilitate ecosystems.
It also provides carbon consultancy, offering clients environmental, social and governance and policy advisory to help them meet their carbon reduction targets, and comply with regulations.
The latest funding follows a pre-seed funding round last year where it raised US$220,000 from investors Spiral Ventures and Ecoxyztem.
To date, it has partnered more than 300 businesses and institutions, and completed carbon project pre-feasibility studies for over 4.2 million ha of land.
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