Chloris Geospatial Closes Seed Extension Round of Funding with AXA IM Alts and Orbia Ventures as New Investors
(Adnkronos) - BOSTON, March 1, 2023 /PRNewswire/ -- Chloris Geospatial, a technology company that measures natural capital from space, closes seed extension round of funding led by AXA IM Alts and Orbia Ventures, with participation from existing investors At One Ventures and Counteract.
Companies are challenged with adopting nature-based solutions with increasing speed, scale, and integrity to meet climate and biodiversity goals. Chloris developed technology that uses satellite data to reliably assess forest carbon dynamics, including forest growth and degradation.
Marco Albani, CEO of Chloris Geospatial, commented, "We are excited to welcome AXA IM Alts and Orbia as new investors. The market needs robust and reliable natural capital insights to deploy high-integrity nature-based solutions. We will use the new funding to advance sensor-fusion technology and equip customers with globally consistent estimates for 2000-2022. This aligns with corporate sustainability reporting frameworks and allows us to assess the impact of forest projects in the voluntary carbon markets. The funding will also extend spatial coverage and grow customer support services."
Jonathan Dean, Head of Impact Investing at AXA IM Alts, commented, "AXA IM Alts is committed to investing in companies and projects to preserve our planet's natural ecosystems and address climate risk. Chloris's innovative solutions will enhance the credibility of natural capital projects and associated ecosystem services claims and provide the necessary assurance to support continued investments in natural capital. This aligns with our ambition to create scalable solutions that contribute to global protection, restoration, and sustainable management of natural capital globally."
Shai Albaranes, VP Innovation, and Ventures at Orbia commented, "We are delighted to be part of this round of funding in Chloris Geospatial. Climatech is a key focus area for Orbia Ventures, with this investment forming part of a wider strategy to implement our commitment to advancing life around the world by developing and investing in products and services that mitigate the impact of climate change and move us closer to our goal of being carbon neutral while helping decarbonize the planet."
About Chloris Geospatial
Chloris Geospatial is a provider of science-based forest carbon insights built with Earth observation data and machine learning. The Chloris Platform enables high-integrity nature-based solutions to climate change. For more information, visit www.chloris.earth.
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