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Tuesday, March 21, 2023

New climate tech startup from Estonia raises €1.8M pre-seed from Taaveet Hinrikus and Plural

Tallinn-based newborn Arbonics raised €1.8 million in a pre-seed round from Taavet Hinrikus (co-founder of Wise) with Plural. The new climate tech is building the new forest economy to help landowners grow and manage more planet-friendly forests. Plural and Taavet Hinkiruss contributions will allow the startup to enhance the platform.

Founded in 2022 by Kristjan Lepik and Lisett Luik, Arbonics is a climate tech startup that brings together the worlds of forestry and technology to fight climate change. To do so, the Estonian startup offers its tech-based carbon and ecosystem platform for forest and landowners in Europe aimed at unlocking carbon income to fight climate change.

Arbonic’s nature-based solution will make it easier for landowners to analyse and calculate the ability of their land to absorb carbon. It takes less than one minute for the platform to analyse the carbon opportunity of a given area of land or forest, using a dozen data sources combined with the team’s forest expertise. It can carry out analysis of unused land and also provides a custom solution for existing forests which generates carbon credits through adapted forest management practices.

This enables landowners to generate additional income whilst also providing proven, high-quality nature-based carbon credits that are certified by leading verification providers like Verra for the voluntary carbon market. Through this, Arbonics is at the forefront of a movement towards a more localised impact by providing opportunities for European credit buyers to invest in European forests through carbon markets.

Arbonics, Lisett LuikLisett Luik, co-founder of Arbonics, said: “Landowners can be a powerful ally in combating climate change – by storing millions of tons of carbon dioxide in forests and protecting biodiversity. To make this happen, they need someone in their corner to provide critical data and analysis. With the help of our flexible data models and deep understanding of voluntary carbon markets, Arbonics can help landowners realise their land’s positive climate impact.”

Arbonics, Kristjan LepikKristjan Lepik, co-founder of Arbonics, said: “Timber can still be used as a revenue source, but we are adding two new revenue streams in carbon and biodiversity. Our aim is to create the new forest economy and change how forests are valued. We’re excited to work with our investors to grow and develop Arbonics to help combat climate change.”

Arbonics, Taavet HinrikusTaavet Hinrikus, founding investor, said: “I am a big fan of technologies that can speed up carbon capture – direct air capture is one example. But those technologies are only a small part of the solution; we need to empower nature and combine it with data-based technologies to help nature-based solutions scale.”

Climate change has taken a frightening turn and we are all worried about what kind of world will be left for future generations. However, it is still not too late to push this dreadful progress uphill and to support the efforts of businesses that are pregnant with new solutions from hidden points. Of course, there are brave human beings who try to reverse the direction of the wind and try to minimize the damage of this “metaphoric” fire – of course with the nonnegliable help of our beloved loyal and altuistic nature. However, we must look for ways to build what we have destroyed in this time.

Click to read more funding news.

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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