Pachama, a San Francisco, CA-based nature-based carbon credit platform provider, raised $55M in a Series B funding.
The round, which brings total investment secured to $79M, was led by Future Positive, with participation from Breakthrough Energy Ventures, LowerCarbon Capital, Ellen Degeneres, Portia De Rossi, Plus Capital, ReGen Ventures, 20VC, Alexis Ohanian, Azeem Azhar, Miguel Nogales, Seth Goldman, Matias Muchnick, Alex Will, Claire Hughes Johnson, Khaled Naim, Toby Lutke, Zinal Growth, Seaya Andromeda, Wollemi Capital, Amazon Climate Pledge Fund, Social+Capital, MCJ Collective, AirAngels, Sweet Capital, Saltwater Capital, Serena Williams, Manu Ginobili, OATV, Ram Shriram, Joe Gebbia, Marcos Galperin, Fabrice Grinda, Sahil Lavignia and Aglae Ventures. Future Positive’s founding partner, Fred Blackford, joined Pachama’s Board of Directors.
The company intends to use the funds to:
- continue building a scientifically rigorous, technology-based approach to forest carbon credit verification to bring quality, integrity and scale to carbon markets,
- acquire talent,
- expand efforts to reach both corporate and forest developers,
- accelerate research and development,
- and scale the technology needed to transform carbon markets.
Led by Diego Saez Gil, CEO and co-founder, Pachama Pachama is a technology company that leverages the latest advancements in satellite imagery, remote sensing and machine learning to measure the carbon stored in forests with precision and monitors forest growth over time. Through the platform, responsible companies can confidently invest in high-quality forest conservation projects verified by the company’s evaluation process.
In 3 years, Pachama has worked with 46 of the most forest project developers in 14 countries, reviewed over 150 forest projects globally and counts more than 800 sustainably-minded organizations as customers, including Salesforce, Microsoft, Nespresso, Airbnb, Netflix, Softbank, Vuori, and Flexport.
FinSMEs
05/05/2022