CarbonFarm raises €7M to tackle methane emissions from rice cultivation

CarbonFarm, a digital monitoring, reporting and verification (MRV) provider specialising in rice decarbonisation, has raised €7 million in an oversubscribed Series A funding round to expand its technology and support projects worldwide. The round was led by Colam Impact, with participation from Proparco, Suma Capital, elea, Working Capital Fund, Albo and Bpifrance. Existing investors Serena and makesense, through Racine², and Techmind also participated. CarbonFarm develops technology and provides project development services to help the rice industry reduce greenhouse gas emissions, improve water management and access climate finance. The company works with rice producers, cooperatives, agribusinesses, NGOs, governments and local project developers to implement and measure changes in farming practices. Rice cultivation accounts for around 12 per cent of human-caused methane emissions globally and uses up to 28 per cent of the world's freshwater resources. Improved water management can