Carbon and Finance Platform Earthbanc Raises $1.5 Million Pre Seed Round
The funding will launch the Earthbanc protocol and web3 platform, enabling the onboarding of 150,000 farmers on the waitlist in South Asia and Africa
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SAN FRANCISCO, April 05, 2022 (GLOBE NEWSWIRE) — Earthbanc the leading carbon credit and finance platform headquartered in Stockholm with operations across 20 countries, raised a US $1.5M investment in a Pre-Seed Round with participation from Regen Network Development Inc (USA), Rampersand VC (Australia), Visive Capital (EU), Katalista Ventures (Lithuania), Sting Accelerator (Sweden), clients of Jindabyne Capital and Kaai Capital (Australia), European Space Agency Incubator (Sweden) and Regenerative Ventures Holdings (USA).
Earthbanc develops carbon projects, sells verified and audited carbon credits, and enables investors to finance carbon removal. The company has audited the carbon stocks of over 13M hectares of forest globally using satellites and proprietary remote sensing technology.
Launch of the Earthbanc Protocol on Regen Ledger
The number of corporations committed to Net Zero has increased exponentially since COP26, but it has been difficult for carbon buyers to source third-party annually audited carbon credits. With venture backing from the European Space Agency for their patent-pending technology, Earthbanc leverages AI, web3, and data science to annually audit the underlying carbon asset in carbon credits bringing increased transparency and credibility to carbon markets.
This investment enables the launch of the Earthbanc Protocol on Regen Ledger, a publicly governed ecological ledger for verification of claims, data, and agreements on ecological state and carbon credits. Earthbanc Protocol will utilize Regen Ledger to store carbon reporting and auditing information on the transparent blockchain, and Earthbanc will mint carbon credits on Regen Registry, the carbon credit registry operated by Regen Network. Earthbanc Protocol is introducing web3 wallets for the nascent regenerative finance (ReFi) market, enabling Regen Network-based eco credits to be financed, held, and staked via the new Earthbanc Protocol web3 platform.
Earthbanc CEO Tom Duncan said: “We welcome the investment from Regen Network Development Inc and Rampersand VC to accelerate the growth of the Earthbanc Protocol platform, which will enable investors to access 8% fixed – 15% variable APY yields and finance nature-based carbon removal projects globally. We are excited to scale up carbon markets with our technology and onboard millions of farmers around the world to help them monetize their carbon, and give investors access to this fast-growing asset class.”
Earthbanc has been tapped by the African Development Bank to demonstrate the issuance of the world’s first Sustainable Land Bond with fully audited carbon removal on the Earthbanc platform, at the UNCCD COP15 in Africa, May 2022. Solving carbon removal auditing issues with its AI technology is helping attract corporate carbon buyers and investors, unlocking the USD 14 billion pledged at COP26 for the Great Green Wall – an African-led and UNCCD sponsored program. Earthbanc is well-positioned to deliver climate finance and carbon credit services to this 156M hectare mega-project that will sequester 250M tonnes of carbon, estimated to generate USD ~7.25B in credit revenue for local farmers and carbon service providers.
Regen Network Development Inc CEO, Gregory Landua, said: “Regen Network invests in the best regenerative finance (ReFi) ventures to scale faster. The Earthbanc platform is built for the next 1 billion people coming out of poverty through regenerative agriculture, carbon payments, and regenerative payments – enabling capital to flow where it’s needed to achieve planetary regeneration and stabilize the climate. The Earthbanc app will provide a carbon bank with accessible on and off fiat ramps for users globally, particularly for the unbanked, bringing the next billion users into the regenerative finance revolution.”
Nicole Small, Investment Director at Rampersand VC: “The Earthbanc team has extensive experience in regenerative finance markets, with a demonstrated capability and commitment to the community and environment. Earthbanc’s tier-one relationships with leading NGOs, together with proprietary automation and remote sensing technology, deliver huge value in the fast-growing climate finance and nature-based solution (NbS) carbon markets. Equally important is that Earthbanc provides a win-win outcome to farmers through global carbon market access and meaningful carbon sequestration projects.”
About Earthbanc
Earthbanc is pioneering a super cost-effective and precise carbon credit and finance platform. On the Earthbanc platform, you can purchase fully audited carbon credits, or choose to invest in carbon removal. The company’s investment thematics include land restoration, regenerative agriculture, agroforestry, large-scale reforestation and prevention of deforestation, blue carbon including mangroves, seagrass meadows and kelp, marine conservation, agrivoltaics, and social capital projects. Earthbanc’s climate fintech innovation was recognized last year when it won the Mastercard Lighthouse FINITIV program in Spring 2021, and the company is now set to scale to the next level in the booming web3 climate and fintech sector.
For additional information, please visit:
https://earthbanc.io, https://registry.regen.network/, https://twitter.com/earthbanc
Media Contact:
Natacha Rousseau
[email protected]
(323) 352-6417
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Earthbanc is a carbon and finance Web3 and Refi platform with offices in Europe and the USA.
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