Boston (ots/PRNewswire) – Chloris Geospatial, the leading technology company measuring forest carbon from space, welcomes the Cisco Foundation and NextSTEP as investors. The two new additions join existing investors AXA IM Alts, Orbia Ventures, At One Ventures and Counteract in a new funding round that will support the further expansion of Chloris’ mission.
Protecting and restoring forests are important solutions to climate change and the biodiversity crisis and a necessary tool to steer the global economy to net-zero emissions levels by 2050. Chloris’ monitoring technologies enable these solutions to scale by providing reliable on-site impact assessments.
Led by co-founder and scientific director, Dr. Alessandro Baccini’s technology, developed by Chloris, provides reliable annual estimates of biomass density and quantifies forest carbon stock and change for any area using Earth observation data, proprietary sensor fusion and machine learning algorithms. Chloris’ technology enables governments, companies, civil society organizations, indigenous peoples and local communities to track all biomass dynamics – including those resulting from deforestation, degradation and tree growth – from field to continental scale Understand the impacts of their forest carbon projects and supply chains.
The new round of financing will enable Chloris to meet the evolving needs of the market. At the same time, further commercial growth will be facilitated and Chloris will strengthen its position as the most trusted name in remote sensing for forest carbon accounting.
“We are pleased with the continued support of our existing investors and warmly welcome the Cisco Foundation and NextSTEP,” said Marco Albani, co-founder and CEO of Chloris. “This investment confirms the trust of our investors and their commitment to our mission of highly integrated data about the effects of nature and climate protection.
Chloris also announced today that Adam Gibbon, head of natural capital at AXA IM Alts, has joined its board.
“We believe that Chloris’ technology represents a leap forward, enabling the measurement of forest biomass at an unprecedented scale, speed and accuracy, and we expect it to become the de facto standard for forest carbon projects and supply chain footprint creation. This investment contributes to AXA IM Alts’ mission to invest in activities and solutions that ensure the protection, restoration and sustainable management of natural capital,” said Adam Gibbon, Natural Capital Lead at AXA IM Alts.
“With the Cisco Foundation’s climate investments, we seek to support early-stage companies that can have a significant impact on the climate,” said Elias Habbar-Baylac, climate investor at the Cisco Foundation. “Our support for Chloris Geospatial relies on the company’s exceptional ability to accurately monitor forest carbon dynamics at scale. Chloris’ advanced sensor fusion technology and machine learning models provide critical data for robust, scalable management of natural carbon sinks and are consistent with the company’s strategy Cisco Foundation to protect and scale natural carbon sinks.” The Cisco Foundation was founded in 1997 with a gift from Cisco. In 2021, the Cisco Foundation committed to $100 million over the next 10 years to provide financing for innovative climate solutions.
“Our strategic investment in Chloris is a decision we made in line with our mission and values. It reflects the critical role of reliable monitoring technologies in effectively combating climate change,” said Claudio Colombo, Managing Director of NextSTEP. NextSTEP (NextEnergy Sustainable Technology for the Planet) is an investment initiative promoted by NextEnergy Group that focuses on pre-seed and seed investments in CleanTech startups.
“Nature-based solutions are critical components in humanity’s efforts to reduce carbon levels in the atmosphere. Orbia Ventures spent many months evaluating the remote sensing market before deciding to invest in Chloris. With the best team in the industry, Chloris is the only company in the world that can cost-effectively and at scale measure carbon stocks and changes in every forest in the world since 2000,” said Shai Albaranes, Orbia’s vice president of innovation and ventures.
About Chloris Geospatial Chloris Geospatial is a leading provider of trusted forest carbon insights, leveraging artificial intelligence and machine learning to develop innovative solutions that drive business value. The technology helps companies make informed decisions and improve their operations by delivering scalable and cost-effective actionable insights and maximizing resources for on-site action.
For more information, see www.chloris.earth.
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Questions & Contact:
Elisa Casavecchia,
elisa@chloris.earth