Copenhagen-based Agreena, a startup that verifies and sells carbon credits generated by farmers, announced that it has raised €46M in a Series B round of funding.
The round was led by Germany’s leading multi-stage investor HV Capital and saw participation from new investors AENU and Anthemis.
The latest funding comes after Agreena raised €20M in its Series A round in February 2022. Since then, the company’s operations have multiplied by ten.
Its geographic reach has increased to include cropland in 16 different European nations and it has also collaborated with farms to assist in the conversion of more than 600,000 hectares to climate-positive regenerative farming.
Agreena has found a method to use the carbon market to leverage this effect into a new and additional income source for farmers to help pay for the transition.
Farmers can use the company’s platform to plan, monitor, and verify changes for their regenerative journey, switching from releasing CO2 to drawing CO2 down and depositing it within their grounds.
The operational performance of fields is enhanced by the increased soil health and biodiversity, which decrease the need for inputs while increasing farmers’ resilience to unfavorable climatic circumstances (such as drought or flooding).
Agreena’s certificates and downstream services also assist businesses that are concerned about the environment and are already working to reduce their carbon footprint.
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