Danish regenerative farming carbon market Agreena creates new opportunities for farmers to invest in an environmentally and financially sustainable future in agriculture. To do this, the company awakens the agricultural lands’ potential to reduce greenhouse gas emissions. Agreena is hoping to save billions of euros on the way to reducing carbon dioxide emissions.
After closing the last round with 20 million euros, the startup happened to have raised €26.9 in total. The funding from the last round led by Kinnevik will allow Agreena to offer new financing solutions for farmers as well as enhancing regenerative farming carbon certificates by attaching Sustainable Development Goals to them.
Agreena secures €20m to cultivate international carbon farming market
€20-million Series A Round led by Kinnevik, Europe’s leading investor in tech-enabled growth-stage businesses with continued participation from existing investors Giant Ventures, Vaekstfonden – the Danish states’ investment fund, and farmer angel investors. This brings the startup’s total funding to €26.9 since it was founded.
Magnus Jakobson, Investment Director of Kinnevik says “The necessary transition to more sustainable farming is an impactful and sizeable climate opportunity. We have been impressed by the Agreena founding team and their nimble and thoughtful approach to supporting farmers in transitioning to regenerative practises, enabling carbon capture and restoring biodiversity. As a long-term investor, we take a multi-generational approach and truly believe that to be a successful company you need to be part of the solution.”
The AgTech Startup Agreena
Co-founded by Ida Boesen, Julie Koch Fahler, and CEO Simon Haldrup; Danish AgTech startup Agreena currently employs 47 purpose-driven individuals of 18 nationalities and is on a hiring spree.
Agreena is one of the first internationally accredited (ISO 14964-2) companies in Europe specifically focused on quantifying, monitoring, and reporting GHG emission offsets – reductions/enhanced removals that is focused specifically on regenerative agriculture and soil carbon sequestration.
Built a scalable solution combining ground-truth field data, with advanced technology, models, and big-data: first year, more than 150 farmers across 8 countries in pan-European market – 50,000+ hectares.
Co-founder and managing partner of Giant Ventures, Cameron mclaın saıd “Agreena’s speed of execution has been exceptional since we co-led their seed round last year. The carbon marketplace has already become a backbone of Europe’s new green economy.”
With the new funding, the company is enhancing its vertically integrated tech-stack with blockchain for greater market transparency and traceability, and enabling new financing solutions for farmers in the future.
“The agrifood industry is in the middle of a transformation. We need to produce food in a sustainable way to succeed with the climate goals. To achieve this we need innovative and scalable solutions to support the agricultural industry on their green transition. Agreena is a great example of exactly that and therefore we are very happy to support Agreena along their journey.” stated Eric-Alan Rapp, Partner of Vaekstfonden, Danish States’ Investment Fund.
To support the transition to climate-neutrality by 2050 to meet the IPCC recommendations/target on limiting global warming to 1.5-degree C in relation to pre-industrial levels, carbon removals will be provided – and nature-based solutions (such as soil sequestration) are the most cost-effective mitigation measure. Net-zero targets are on the rise among corporates, and this year, Agreena is enhancing its regenerative farming carbon certificates with a new classification system of reductions and removals.
“Kinnevik has placed sustainability as an integrated part of their business model with a strategy aligned to the UN 2030 Agenda and the Sustainable Development Goals,which makes them, and all of Agreena’s impact investors, particularly exciting partners to be working with at this stage of the company.” said Simon Haldrup, Co-Founder and CEO of Agreena.
With many co-benefits of regenerative farming practices beyond carbon sequestration, Agreena is looking to attach SDGs to carbon certificates in the future to showcase the full impact of farmer efforts and add further value to its certificates issued to the voluntary carbon market.