Earthbanc secures $1.5 million from multiple international investors

Earthbanc, a Stockholm, Sweden-based startup building a vertically-integrated platform that finances and sells carbon credits, announced compelting a pre-seed funding round closed at $1.5 million

The money was raised from mutiple international investors, including Regen Network Development Inc. Rampersand VC from Australia, Visive Capital, Katalista Ventures, Sting Accelerator, clients of Jindabyne Capital and Kaai Capital (Australia), European Space Agency Incubator and Regenerative Ventures Holdings.

Earthbanc, founded in 2019 by CEO Tom Duncan, Chau Tang-Duncan and Franco Scucchiero, develops a data-driven carbon and finance marketplace that develops carbon projects, sells verified and audited carbon credits, and enables investors to finance carbon removal. It is an alternative financial asset allowing investors gain access to a diversified portfolio in the carbon market. The company says it audited the carbon stocks of over 13M hectares of forest globally using satellites and remote sensing technology for carbon monitoring, reporting and verification (MRV).

This investment enables the launch of the Earthbanc Protocol on Regen Ledger, a publicly governed ecological ledger for verification of claims, data, and agreements on ecological state and carbon credits. Earthbanc Protocol will utilize Regen Ledger to store carbon reporting and auditing information on the transparent blockchain, and Earthbanc will mint carbon credits on Regen Registry, the carbon credit registry operated by Regen Network. Earthbanc Protocol is introducing web3 wallets for the nascent regenerative finance (ReFi) market, enabling Regen Network-based eco credits to be financed, held, and staked via the new Earthbanc Protocol web3 platform.

Earthbanc previously raised a pre-seed round closed at $1.5 million in 2021.