Agreena raises €46M Series B to expand its soil carbon platform
• Agreedwhich operates at the intersection of climate technology, agritech and fintech, raised a €46M Series B from German investor HV Capital, new investors including impact fund AENU and fintech-focused Anthemis, and a doubling from existing shareholders.
• The company manages over 70,000 ha in Romania and 170,000 ha in Moldova.
• The new funding will be used to expand the soil carbon platform and support regenerative agriculture in Europe.
Regenerative agriculture is gaining momentum around the world as a way to build resilience in our food systems by improving soils, crops and the quality of food, while restoring lost biodiversity and combating climate change. In the context of decarbonisation, regenerative agriculture can help reduce and remove existing carbon via soil sequestration.
Founded in 2018, in Copenhagen, Denmark, with seed funding from Danish farmers and farming families, Agreena began as an online marketplace for commodity education. It has since evolved into one of the first soil carbon certification programs in Europe. They currently work in close collaboration with farmers in 16 European markets.
The company’s vision has also shifted to removing financial barriers to regenerative agriculture for farmers and their communities via the growing market for fintech solutions.
A growing technology stack to support agriculture stakeholders
The company supports farmers in their transition to regenerative agriculture by helping them issue and sell third-party verified carbon certificates on the voluntary carbon market to companies looking to offset their emissions. Agreena Carbon Certification is accredited to the ISO 14064-2 standard, with a third-party verified methodology adapted to IPCC science.
Farmers can use the Agreena digital platform to track, validate and plan for improvements along the way to reduce CO2 emissions and store it in the soil.
“For the world’s farmers to transition to regenerative agriculture and create a scalable climate impact, the financial rails to support and pay them for it must be built. Agreena is building out technological and financial infrastructure throughout the agricultural value chain as the industry is increasingly becoming a focal point for decarbonisation efforts, says Simon Haldrup, co-founder and managing director of Agreena.
Recently, Agreena expanded its technology stack and services after acquiring the remote sensing company Hummingbird Technologies. Now the company’s platform includes an AI-enabled monitoring and verification solution based on satellite imagery, which it couples with machine learning and ground data to identify, report on and improve regenerative agriculture practices. With its new technologies, Agreena has expanded its offering beyond farmers, to serve supply chain actors and authorities with agridata services.
