Agreena helps farmers earn additional revenue through the adoption of regenerative and climate-friendly agricultural practices
Agreena, a Denmark-based climate tech company, has raised €46m in a series B funding round.
The capital will be used to further its mission to encourage climate-friendly farming practices and provide financial solutions for the agricultural industry.
The round was led by German investor HV Capital and included new investors AENU and fintech-focused Anthemis.
As 31% of human-caused GHG emissions originate from the world’s agri-food systems, data from the UN’s Food and Agriculture Organisation shows, demand for regenerative farming is increasing, as agricultural soils can be used for carbon removal.
With Agreena’s digital platform, farmers can plan, track and validate improvements for their regenerative farming, which reduces the impact on the environment.
Agreena tracks a farmer’s CO2 impact and turns the results into carbon certificates that other companies can buy to offset their own emissions. This provides a new revenue stream for farmers.
Regenerative farming also improves soil health and biodiversity and increases a farm’s resilience to drought and flooding.
Simon Haldrup, co-founder and chief executive officer of Agreena, commented: “In order for the world’s farmers to transition to regenerative agriculture and create a scalable climate impact, the financial rails to support and pay them for it need to be built.
“Agreena is building out technological and financial services infrastructure throughout the agriculture value chain as the industry increasingly becomes a focal point for decarbonisation efforts.”
Alexander Joel-Carbonell, partner at HV Capital, said: “Real climate impact is only created at scale and Agreena is perfectly positioned to distribute their carbon farming capabilities across the globe to bring high-quality, verifiable and nature-based carbon credits to the market.”
Haldrup concluded: “We are on a journey to remove the economic barriers to adoption of regenerative agriculture for farmers and their entire ecosystem—carbon is just the beginning.”