Planboo Secures Over $1.1 Million in Funding to Scale Carbon Removal with Biochar MRV Technology

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Investment from Katapult, Silverstrand Capital, Rockstart, Imaginal Seeds, and 8+ Ventures empowers Planboo to scale its carbon removal efforts across the tropics.

Stockholm, Sweden, March 22, 2024 — Planboo, a climate tech company dedicated to simple, honest carbon removal, is pleased to announce the closure of their latest funding round, securing over USD 1.1 million with backing from distinguished investors including Katapult, Silverstrand Capital, Rockstart, Imaginal Seeds, and 8+ Ventures. 

This investment highlights the trust in Planboo’s innovative approach to unlocking biochar carbon removal credits from remote tropical regions. Using IoT remote sensing technology as a tool for digital Measurement, Reporting, and Verification (dMRV) Planboo ensures the accuracy in the quantity and quality of carbon removal taking place. This funding will allow Planboo to make some key hires in marketing, product and business development whilst further developing the digital tooling to unlock simple, honest carbon removal.

Freddie Catlow, CEO of Planboo, shared his gratitude and optimism: “I would like to thank the people who made these investments happen. They have dedicated their time to learning, sharing and understanding the nascent and significant industry we work in. Every day we grow and progress, unlocking new challenges and opportunities. This funding fills me with excitement and hope for the future.

Biochar applied to Bamboo in our Project in Thailand

About the investors


Katapult VC is a global investment company focusing on early stage impact driven technology startups. Over the last 8 years, Katapult has made 169 investments in impact tech startups from 47 different countries across six continents. Katapult also hosts the annual Katapult Future Fest in Oslo, Norway, bringing together founders, investors and some of the most prominent figures within global impact investment.

“We discovered Planboo in 2022 and have been excitedly following the team and the biochar carbon removal space ever since. The demand for carbon removal is unquestionable but there is also, rightly, a growing necessity that the underlying technology is authentic, verifiable and that the CO2 sequestration is long-term. Biochar carbon removal ticks all these boxes (with more benefits besides), and Planboo is building the B2B SaaS platform to catalyse these projects across the Global South. We are proud to partner with them in their mission to remove 1 billion tonnes of CO2 in 2050.
– Carl Strøm Walton, Investment Director at Katapult VC

Imaginal Seeds is a trust dedicated to a just and sustainable world where every community can prosper within the limits of our planet. Their mission involves fostering models of wealth redistribution that are both reparative and regenerative, promoting social equity, economic justice, and the resilience of our ecosystems.

“We believe Planboo is a category leader in the Artisan Biochar space. Planboo’s MRV technologies enabled a decentralised biochar production process and allowed more farmers to benefit from the emerging biochar carbon credit market.”
Ann Goh, Imaginal Seeds

Silverstrand Capital is a Singapore-based investment firm with a mission to create biodiversity positive impact. Through impact investing and philanthropy, it looks to support innovative solutions that reverse nature loss, back the right people making a difference, and foster collaborations with likeminded partners to catalyse systems change. Its global investment portfolio includes a diverse range of sectors, including regenerative agriculture, sustainable aquaculture, and nature data measurement and reporting technologies.

We view Planboo as an enabler of wider biochar adoption and utilisation in low to middle income communities. This then creates a double impact in increasing farmers livelihood as well as spreading best practices in net carbon sequestration. We believe that Planboo can achieve this since your technology is scalable and the team has proven dedication and passion for the cause.
Julian Johanes, Impact Investment Manager, Silverstrand Capital

Rockstart, an early stage investor empowering purpose-driven founders, reiterates its commitment through its continued investment in Planboo. Rockstart has invested in more than 350 startups across three domains: energy, agrifoods and emerging technologies, and its alumni value to date is more than €1.6bn. With an international team of 45+ professionals dedicated to empowering purpose-driven founders, and notable exits such as Wercker, Dan.com, Hubs.Com, Bouw7, iClinic, and s and Brincr, Rockstart’s investment acknowledges Planboo’s potential to foster scalable solutions that drive significant environmental and social change.

Regulatory tailwinds are approaching for the voluntary carbon markets, and we believe that tangible insetting will be central long term. Planboo’s MRV and biochar production projects align well with this trend, and the team has already secured promising projects for expansion in 2024 and 2025. This made it an easy decision for Rockstart to further invest in the company from our AgriFood Fund II. We are excited for what’s to come!”
– Mark Durno, Managing Partner AgriFood, Rockstart

8+ Ventures focuses on investing in highly scalable and high-impact businesses poised to revolutionise our way of life on Earth. Specialising in early-stage investments, they provide not only capital but also advice and access to extensive networks to assist businesses in scaling. At 8+ Ventures, there’s a deep-rooted passion for systematic change, meticulously choosing companies with the capacity to transform industries and generate positive social and environmental impacts.

“Planboo just ticked so many boxes when it comes to being a great impact investment – long-term carbon sequestration combined with improved food security, while bolstering the incomes of low-income people worldwide. Win-win-win. Look forward to seeing it become successful and impactful at a global scale!”
Mike Debelak, CEO, 8+ Ventures

 

About Planboo

Planboo is charting the course in carbon removal in the Tropics with pioneering biochar MRV technology. Our dedication to creating scalable solutions enables us to drive impactful global carbon removal efforts, all the while promoting the economic empowerment of agricultural communities and advancing sustainable value chains. Each step forward in our journey is a stride against climate change and a push towards a more equitable world.

Part of the Planboo team in Sri Lanka 2023

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Carbon Removal

To keep the world within 1.5 degrees of global warming and to avoid global catastrophe – we now need to not only drastically reduce our emissions but also rapidly remove them too.

However, there is very little carbon removal today with less than 50,000 tonnes of CO2 removed in 2021. It’s estimated we need to remove 10% of Global GHG emissions by 2030, which is equal to 5 billion tonnes per year. Carbon removal needs to grow 100,000 times bigger. 

Planboo is a nature-based carbon removal company, using bamboo-the fastest growing plant in the world. Like all plants, through photosynthesis bamboo absorbs CO2 and releases oxygen into the atmosphere. Because it grows so fast, it’s carbon removal potential is huge. We develop projects in Sri Lanka with local partners and supply high quality and high integrity carbon removal credits for the carbon market.