CarbonFarm - Seed round (Oct 2023)

Terms

Announced

25 Oct 2023

Instrument

Equity

Amount

US$2.64mReported as EUR 2.5 million, converted at 1.0562 USD/EUR (October 2023 average)

Source

carbonfarm.tech

Parties

Project developer

CarbonFarm

Recipient type

Technology company

Country

France

Capital providers

Capital providers and the amount counted for each

Party	Role	Amount	Basis
Racine²	Lead investor	US$0.44m	Estimated: an even share, 1 of 6
Techmind	Investor	US$0.44m	Estimated: an even share, 1 of 6
Ponderosa Ventures	Investor	US$0.44m	Estimated: an even share, 1 of 6
AgFunder	Investor	US$0.44m	Estimated: an even share, 1 of 6
Climate Capital	Investor	US$0.44m	Estimated: an even share, 1 of 6
Bpifrance	Investor	US$0.44m	Estimated: an even share, 1 of 6

Carbon

Pathway

Rice methane (AWD)

What happened

CarbonFarm Technology, a Paris-based rice decarbonisation company, closed a EUR 2.5 million seed round led by Racine² (operated by Serena and makesense), with Techmind, Ponderosa, AgFunder, Climate Capital and Bpifrance. Closing wording: "has announced the closing of its seed funding round, raising €2.5 million" (wire release), and "has secured €2.5 million in seed" (CEO post). The proceeds fund expansion into the main rice-growing regions of Asia, Africa and South America. Per-investor amounts are not disclosed. Converted at 1.056238 USD/EUR (2023-10 avg, ECB reference rates via Frankfurter).

Kumo note

• Racine², the impact venture fund run by Serena and makesense, led the seed and renewed in the Series A (EQ-292), alongside Bpifrance. • The seed syndicate mixes climate and agrifood venture investors with one public financier.

Next step