Pachama raises $5M to fight deforestation

LatamList — Pachama, a carbon-offsetting marketplace, secured an additional $5M extension to its Seed round from multiple investors. The round included investors such as Breakthrough Energy Ventures, Amazon Climate Pledge Fund, Aglaé Ventures, AirAngels, and, My Climate Journey.

Pachama is a marketplace where companies can support carbon-offsetting projects through investment. The startup uses machine learning with satellite imaging to measure the levels of carbon captured in forests. This technology also verifies the direct impact of a company’s investment in the project.

“We are excited to invest in Pachama, a company applying cutting-edge technology to protect ecosystems, restore forests, and improve carbon markets,” said Kara Hurst, VP of Sustainability at Amazon.

The environmental startup has already attracted major customers, including Microsoft and Spotify. With investors’ support via the marketplace, Pachama is building forest conservation and restoration projects around the world.

“By leveraging technology to create new levels of measurement, monitoring, and verification of carbon removal — while also onboarding new carbon removal projects seamlessly — Pachama makes it easier for any company to become carbon neutral,” commented Carmichael Roberts from Breakthrough Ventures.

The most recent round of funding will further support Pachama in rebuilding the world’s forests. The investors will also bring unique expertise and knowledge to the table from their own experience in the climate industry.

LatamList is the premier English language source for startup, venture capital, and tech news in Latin America.

See the original post here, or sign up for our weekly updates on LatamList.com.