Carbon accounting and land analysis firm FLINTpro has today announced the closure of a $13.5 million Series A funding round which will expand the company’s reach into the North American market.
Canberra-based FLINTpro saw its raise supported by lead investor Understorey Ventures alongside new investors Pollination, Persei Venture and existing backers Ananta-OM and Synovia Capital.
Though the funds will turbocharge its US push, the company already has an HQ in the region in Fort Collins, Colorado, and works with the likes of the US Forest Service, National Resources Canada, Shell and Yale University.
Back home, FLINTpro’s SaaS platform that pulls together disparate carbon measurements into one visualisation tool is used by the NSW Department of Primary Industries, Grain Producers of South Australia, the Australian Agriculture Company (AACo) and Food Agility Cooperative Research Centre.
These clients tap into the company’s platform to accurately track emissions and measure the validity of their sustainability claims, protecting them from accusations of greenwashing in turn. It also empowers customers to move forward with actionable plans to transform the land they are using.
FLINTpro CEO Dr Rob Waterworth says the company’s tech solves sustainability problems for companies that have collected swathes of incongruent data on emissions.
“As climate and natural capital reporting becomes mainstream, organisations are finding that there is no single technology or data source that can meet all their needs,” says Dr Waterworth.
“FLINTpro solves this problem by integrating multiple streams of data, including best-in-class soil and biomass estimates, to simplify natural capital reporting for carbon, greenhouse gas emissions, biodiversity, water and soil.”
According to FLINTpro, the raise is a ‘step change’ in funding its solution which addresses the needs of managing natural capital, the ongoing maturity of the carbon market, and the goal of the decarbonisation of the atmosphere.
“We’ve seen a rapidly increasing demand for technologies that can provide accurate data to support climate and nature reporting,” says FLINTpro investor and Pollination co-founder and CEO Martijn Wilder.
“Pollination has been working with FLINTpro over many years and see their potential as a strong market leader in this space.”
FLINTpro board member and Understorey director Jordan Soriot says the carbon accounting tech has ‘enormous potential’.
“FLINTpro’s solution drives higher integrity reporting and analysis which is key to building trust in a growing and complex sector,” Soriot says.
“The technology has enormous potential to unlock nature-positive outcomes and GHG emissions drawdown at scale.
“FLINTpro’s mission to reveal nature’s value will enable organisations to map and quantify their land-based impacts effectively and accurately, allowing them to take greater control over their strategies to meet or exceed increasingly complex and ambitious reporting requirements, stakeholder expectations, and emissions reduction targets.”
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