Blue Ocean Barns, a Kailua-Kona, Hawaii-based agricultural technology company, raised $20M in Series A funding.
The round was led by Valor Siren Ventures, with participation from Tao Capital Partners and strategic investors.
The company intends to use the funds to expand its tank-based farming, harvesting, and processing operations, and commercial adoption of Brominata™, its seaweed-based digestive aid for cattle.
Led by CEO Joan Salwen, Blue Ocean Barns works directly with companies to reduce GHG emissions from livestock within their own milk and beef supply chains, known as Scope 3 reductions. Companies pay Blue Ocean Barns to deliver the seaweed to their farmers; in return, companies earn verified carbon certificates that substantiate the reductions. These certificates are more valuable than so-called carbon offsets, which allow companies to fund climate-remediation projects outside their industry, such as wetlands restoration.
Among partners there are dairy pioneers Ben & Jerry’s, Clover Sonoma, and Straus Family Creamery.
FinSMEs
14/07/2022