Treefera, an AI platform that provides forest mapping data for the carbon offset industry, has raised £1.8m.
The Treefera platform uses AI algorithms to map trees globally, collecting data that can then be used to measure, report and verify carbon credits, which are bought by companies to fund carbon reduction projects to offset emissions.
With the new funding secured, the London-based startup plans to expand its team and extend its market presence internationally.
“Our platform enables instant analysis and insights of carbon offset projects, and critically allows easy integration of that trusted data into our clients’ analytics environment through an API,” said Jonathan Horn, co-founder and CEO of Treefera.
“Treefera’s transformative AI tool has the power to revolutionise the world’s approach to forest data and conservation.”
Horn comes from a background in theoretical physics, as well as finance, having previously worked as a managing director at JP Morgan and Citi Bank.
According to the company, the Treefera platform covers more than 197 registered forest projects.
The funding round was led by Concept Ventures and featured participation from Twin Path Ventures, January Ventures and Intel CTO Greg Lavender.
“The Treefera platform and its exceptional team impressed us beyond measure. This innovation not only contributes to the fight against climate change but also offers businesses, governments, and landowners a compelling commercial opportunity,” said Reece Chowdhry, a partner at Concept Ventures.
“With Treefera, trust and accuracy are injected into carbon offset projects, positioning tree conservation as the smart and essential choice.”