Australia, US carbon reporting start-up raises $9m
Understory Ventures, an Australian environmental impact investor, has led a USD 9m Series A round for Australia and US-based carbon reporting technology provider Flintpro.
US climate investor and Pollination Group, a UK-based environmental advisory firm that closed a USD 650m climate fund last December in partnership with HSBC Asset Management, also came in as new investors.
They were joined by existing backers including US climate specialists Persei Venture and Synovia Capital, as well as US family office Ananta-OM Management.
Flintpro’s land analysis software aims to address rising demand for carbon and ecosystem services accounting by helping energy, finance, and land management organisations assess and report the value of natural capital assets. The technology is typically applied to forestry, agriculture, grassland, and blue carbon assets.
The idea is that as climate and natural capital compliance becomes mainstream, organisations will seek a single technology or data source that can meet reporting needs that span carbon, greenhouse gas emissions (GHG), biodiversity, water, and soil reporting and more. Flintpro claims to provide this service by integrating multiple data streams, including best-in-class soil and biomass estimates.
“Flintpro’s solution drives higher integrity reporting and analysis which is key to building trust in a growing and complex sector. The technology has enormous potential to unlock nature-positive outcomes and GHG emissions drawdown at scale, Jordan Soriot, a director at Understorey who sits on the Flintpro board, said in a statement.
The fresh capital will support Flintpro’s global operations and expand its customer base. This effort will leverage a recent relocation of headquarters from Australia to the US. Recent international forays include a partnership with Earthworm Foundations, a Switzerland-based sustainability advisory active across Europe, the Americas, Africa, and Asia.
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