Cultivo, a Pleasanton, CA-based public benefit corporation that provides an AI-driven science and technology platform, raised $14M in Series A funding.
The round, which brought the total amount to $20M, was led by MassMutual Ventures and Octopus Energy Generation, with participation from Salkantay Ventures and Peña Verde.
The company intends to use the funds to further enhance its AI-driven science and technology platform.
Led by CEO Dr Manuel Piñuela, Cultivo is a public benefit corporation accelerating investment to regenerate nature at scale. It empowers the value of natural capital by using its AI-driven science and technology platform for project origination and by mobilizing different pools of capital into land regeneration projects that remove carbon, increase biodiversity and improve water storage. The company also works in close partnership with NGOs and land partners to co-design, implement and monitor projects to standards that are fair and equitable for local communities and land stewards.
Cultivo’s pipeline of high-quality nature-based carbon removal projects surpasses 100m hectares, equivalent to more than double the land size of California. The company has also signed an agreement with Octopus Energy Generation for them to deploy up to $40M into natural capital projects across North America, Europe and Australasia.
Commenting on the news, Manuel Piñuela said: “Investors are recognizing the value and scale of the natural capital investment opportunity, and companies are wanting to secure a future supply of high-quality carbon removal credits to mitigate volatility and quality concerns seen in the voluntary carbon market. This funding allows us to continue to deliver our growing pipeline of high-quality natural capital projects for our institutional customers, and accelerate the development of our AI-driven science & technology platform. We’re deeply honored to have MassMutual Ventures and Octopus Energy Generation join us on our mission to regenerate nature at scale”.
FinSMEs
30/01/2024