Israeli Climate-Tech startup closes seed round of funding to develop remote sensing technology for carbon monitoring in a variety of ecosystems, including cropland and forestry.
Tel Aviv, Israel, December 21, 2022, Albo Climate announces the successful closing of their seed round of funding in Fall of 2021, with strategic investments from angel, corporate and venture capital entities. The seed round follows Albo Climate’s completion of the Techstars Tel Aviv Accelerator in September 2020.
Albo Climate CEO, Jacques Amselem and COO, Ariella Charny
A key investor participating in the round includes Consensus Business Group (CBG), a leading UK-based investment group with over $700M under management in Israeli technologies, incubator funds, and other initiatives. CBG, together with the Israel Innovation Institute, have established PLANETech - a growing ecosystem of corporates, VCs, academia, startups, nonprofits and government bodies driving Israel innovation in tackling climate change and offering powerful opportunities for collaboration.
“We are happy to announce our investment in Albo Climate, a key technological enabler in the land-use carbon offset market. At PLANETech, we are placing Land Use goals at the top of the agenda by devising ways to restore soil health, prevent land degradation, and reduce emissions caused by human activity,” says Rotem Kakon, Investor and Portfolio Manager at CBG.
Albo Climate’s unique AI and satellite solution directly addresses land use challenges around the globe, including in some of the world's most vulnerable regions, by offering hardware-free ecology and carbon-sequestration monitoring technology. The company aims to democratize the market by serving not only large-scale project sites but also plots as small as 10 by 10 meters, allowing smallholder land owners to earn carbon credits from sequestering CO2. The company’s current projects include monitoring rainforest conservation in Africa with its partner Tembo, as well as carbon stock changes in Ecuador, with its partners UDLA in Fundación Futuro.
Also participating in the investment round is Taranis, the leading agriculture digital scouting provider. The companies have partnered to deliver AI-powered remote sensing technology for soil carbon verification in agriculture markets. By using satellite-based remote sensing to significantly reduce the cost of verification of Soil Organic Carbon (SOC), Taranis and Albo Climate will allow agriculture retailers to scale carbon programs and help farmers move their carbon credits more easily into the carbon credit markets.
“We are delighted to be closing our seed round together with our fantastic, strategic partners. Our technology offers massive opportunities for scaling up the carbon credit market by offering cheap, accurate and automated CO2 sequestration monitoring. By digitizing carbon credit verification, Albo Climate is helping human civilization transition to a more sustainable future,” says Albo Climate’s CEO, Dr. Jacques Amselem
About Albo Climate:
Albo Climate, established in 2019, is an Israel-based startup applying AI to satellite imagery to map, measure, and monitor carbon sequestration and scale-up carbon removal. Combining geospatial monitoring and deep learning expertise, Albo Climate is developing remote sensing solutions for carbon credit verification for various ecosystems, including forestry, agriculture, and blue carbon.
CONTACT PERSONS:
Dr. Jacques Amselem, CEO, jacques.amselem@albosys.com
Dr. Marco Calderón, CTO, marco.calderon@albosys.com
Ariella Charny, COO, ariella.charny@albosys.com
Erik Kobayashi-Solomon, CFO, erik.koso@albosys.com