Venture Capital: Farmland CO2 Remover Andes Lands $30M
The funding will allow Andes to make its carbon removal credits available to organizations of all sizes, enabling companies across industries to meet their distinct sustainability goals.
Andes, a climate tech startup, has completed a $30 million Series A funding round, bringing its total funding to $38 million. The company uses beneficial microorganisms to remove greenhouse gases from the atmosphere and convert them into minerals in the ground.
Taking the latest funding into account the startup has cumulatively raised capital of $38 million. Investors include Voyager VC, Yamaha Motor Ventures, Leaps by Bayer, Cavallo Ventures, KdT Ventures, Venturance, Germin8, and Accelr8. (CISION PR NEWSWIRE)
The funding will allow Andes to further grow its partnerships with farmers, commercialize its carbon removal credits, and develop next-generation decarbonization technology. The company’s carbon dioxide removal solutions are scalable and permanent, providing a safe and effective way to combat climate change.
There are substantial advantages from Andes’ technology for farmers as well. The company’s beneficial microorganisms grow with the plant roots and provide many benefits to the plant and soil. These include an increase in water permeability, aeration, and the availability of nutrients in the soil, leading to healthier crops and soils.
The company stated in a news release: “By enrolling in Andes’ Carbon Removal Program, farmers can increase their net income of operations by up to 25%. This year, Andes has seen a 3X increase in interest from farmers, a figure which is only poised to grow as more farmers use their land to capture carbon.”
Th estartup has already removed over 50,000 tonnes of CO2 from the atmosphere and aims to help organizations reach their net-zero goals.
Related Story: Twelve Raises $130M For World’s First Carbon Transformation Platform
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