Pachama plans to use the funding to support research & development initiatives and scale its technology. Here are the top-line bullets you need to know.
Pachama, a carbon offset platform, has raised $55M in a Series B. The round drew participation from Future Positive Capital, Amazon, Aglae Ventures, and Tobi Lutke, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Pachama provides a digital marketplace for carbon offsets. It uses remote sensing and AI technologies to estimate carbon storage in forests and make predictions surrounding deforestation and forest restoration.
- Pachama has worked with 46 forest protection developers across 14 countries and reviewed 150 global forest projects over the past 3 years.
- The company has over 800 clients, including Microsoft, Salesforce, Nespresso, Softbank, Airbnb, and Netflix.
Source: Pachama
WHY DOES THE MARKET MATTER?
- The global carbon footprint management market is expected to reach a value of $12.2B by 2025, growing at a CAGR of 6.2%, according to Markets and Markets.
- The rise of carbon emissions regulations, increased focus on compliance, and greater awareness of business risks stemming from climate change have all contributed to industry growth.
- Two hundred of the largest global companies estimate that they will collectively incur $1T in climate change-related costs if they do not take measures to address it at present. Additionally, global GDP could drop by 18% over the next 30 years in the case of non-action, according to Swiss Re. The costs associated with non-action have led companies and governments to adopt climate intelligence protocols, boosting this market’s growth.
