Climate and fintech company Agreena, whose soil carbon platform is one of the largest globally, announced its Series B raise of €46M.
The sizable raise comes just one year after the company’s €20M Series A. Since then, Agreena has scaled its activities 10X, expanded its geographic footprint to cover farmland in 16 European countries, and partnered with farms to help them transition more than 600,000 hectares towards climate-positive, regenerative farming.
“In order for the world’s farmers to transition to regenerative agriculture and create a scalable climate impact, the financial rails to support and pay them for it need to be built,” said Simon Haldrup, Co-founder and CEO of Agreena. “Agreena is building out technological and financial services infrastructure throughout the agriculture value chain as the industry increasingly becomes a focal point for decarbonisation efforts.”
Momentum around regenerative farming is sweeping the globe, with corporates, governments and supply chains turning their focus to our agricultural soils for carbon removals in order to meet global net-zero targets. Through the adoption of regenerative agriculture practices, farmers will play an increasingly essential role in tackling climate change, food insecurity, and other critical environmental issues. Agreena has developed a way to turn this impact into a new and additional revenue stream for farmers to help finance the transition by leveraging the carbon market.
Via the company’s digital platform, farmers plan, track and validate improvements for their regenerative journey, in the process transitioning from emitting CO2 to drawing CO2 down and storing it within their soils. The improved soil health and biodiversity reduce the need for inputs while enhancing farmers’ resilience to increasingly adverse climate conditions (such as drought or flooding), enhancing the overall operational performance of farms. On the other side of the equation, Agreena’s certificates and downstream services support climate-focused companies already working to decarbonise, as well as companies in the food supply chain increasingly requiring field-level traceability of their agricultural commodities to comply with Scope 3 reporting requirements.
