Treefera, a data platform specialising in forest data and conservation through artificial intelligence (AI), has successfully closed a $2.2 million pre-seed funding round.
The round was led by Concept Ventures, with participation from Twin Path Ventures, January Ventures and Greg Lavender, the chief Technology Officer at Intel.
Co-founded by Jonathan Horn, a former managing director at J.P. Morgan, and Caroline Grey, previously chief customer officer at UiPath, Treefera’s platform aims to bring greater accuracy and transparency to the carbon offset industry. The platform utilises advanced AI algorithms and has access to data from over a trillion trees worldwide.
The newly launched Treefera platform is designed to streamline the traditionally lengthy process of measuring, reporting and verifying carbon credits. For its users, which include assurers, insurers, traders and landowners, Treefera’s platform offers data on 197+ registered forest projects across various jurisdictions. The platform provides detailed insights into forest conditions and potential risks, such as fires, floods and droughts.
This development comes as the carbon offset market is forecasted to reach a valuation of $250 billion by 2050.
Reece Chowdhry, founding partner, Concept Ventures, said, “This innovation not only contributes to the fight against climate change but also offers businesses, governments and landowners a compelling commercial opportunity.”
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