Revolutionizing Rice Farming: CarbonFarm Secures €7 Million to Combat Methane Emissions

CarbonFarm Secures €7 Million in Series A Funding for Rice Decarbonisation

CarbonFarm, a ClimateTech startup based in Paris, has successfully closed an oversubscribed €7 million Series A funding round. The funding will support the company’s efforts in rice decarbonisation.

The lead investor for this round was Colam Impact, the impact investment arm of Colam Entreprendre, the holding company for the French family-owned group Sonepar. Other participants included Proparco, Suma Capital, elea, Working Capital Fund, Albo, and BPI France. Additionally, existing investors Serena & make sense and Technmind renewed their support for CarbonFarm.

Benjamine Friderich, Investment Director at Colam Impact, expressed confidence in CarbonFarm’s potential, stating, “CarbonFarm is building the enabling infrastructure for one of the largest untapped decarbonisation opportunities globally. We believe its combination of project-development expertise, climate-finance capabilities, and digital MRV creates a uniquely scalable platform in the rice sector.”

Founded in 2021 by Vassily Carantino and James Hastwell, CarbonFarm collaborates with various stakeholders, including rice producers, cooperatives, agribusinesses, NGOs, governments, and local project developers. The company leverages proprietary technology developed in partnership with academic institutions like Cornell University, INRAE, and the European Space Agency. This technology utilizes AI-powered satellite imagery analysis, field-data collection tools, and greenhouse-gas modelling to monitor farming practices and quantify emissions at the field level.

Operating in 19 countries across Asia, Europe, Africa, and the Americas, CarbonFarm has established partnerships with major food and agribusiness companies such as Mars Food, Diageo, Ebro, and Tilda. The company also collaborates with carbon-finance players, development organizations, and tech giants to drive impactful change.

Rice cultivation contributes significantly to global methane emissions and consumes a substantial amount of freshwater resources. CarbonFarm emphasizes the importance of implementing improved water management practices to reduce emissions and water usage without compromising yields.

Carantino, co-founder and CEO of CarbonFarm, highlighted the role of local value-chain players in driving change, stating, “Scale will come from equipping them with the knowledge and tools needed to attract finance and make a difference.”

The fresh funding secured by CarbonFarm will fuel its expansion across Asia, Africa, and Europe, with plans to further penetrate the Latin American market. The company will focus on enhancing its technology and expertise to develop, finance, and certify high-integrity rice projects, connecting them with corporate supply chains and regulated carbon markets.

With this funding, CarbonFarm aims to make high-integrity rice decarbonisation a viable solution on a global scale.