Paris-based CarbonFarm raises €7 million to tackle methane emissions from rice farming
CarbonFarm, a Paris-based ClimateTech startup specialising in rice decarbonisation, has closed an oversubscribed €7 million Series A funding round. The round was led by Colam Impact, the impact investment arm of Colam Entreprendre, the holding company for the French family-owned group Sonepar. The round also saw participation from Proparco, Suma Capital, elea, Working Capital Fund, […] The post…
Paris-based ClimateTech startup CarbonFarm has secured €7 million in Series A funding to combat methane emissions from rice farming. The investment was led by Colam Impact, Colam Entreprendre's impact investment division, and joined by Proparco, Suma Capital, elea, Working Capital Fund, Albo, and BPI France. The venture, founded in 2021 by Vassily Carantino and James Hastwell, partners with various stakeholders in the rice sector to develop, finance, and measure carbon reduction initiatives.
Utilizing AI-powered satellite imagery analysis and field-data collection tools, CarbonFarm's proprietary technology tracks farming practices and quantifies emissions at the field level. With rice cultivation responsible for around 12% of global human-caused methane emissions, the startup claims its solutions can slash emissions by up to 50% and water usage by up to 30% without impacting yields.
The new capital will fuel CarbonFarm's expansion across Asia, Africa, and Europe, as well as in Latin America, enabling it to equip rice producers with the resources to implement sustainable practices and connect them to corporate supply chains and carbon markets.
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