- Thryve.Earth has raised $2.6M in a seed funding round.
- The company leverages technology to assess carbon projects across multiple markets.
- Thryve has engaged over 500 field organizations to generate 3.6 million carbon credits annually.
Openspace Ventures leads investment round
Thryve.Earth, a Singapore-based carbon project developer, has raised US$2.6 million in a seed funding round led by Openspace Ventures.
The fundraise also saw participation from existing backer Capital Code, an agri-food sector-focused investment management firm, and strategic angel investors.
The new funds will enable Thryve to construct tools that streamline project assessment, design, and implementation, as well as expand its team and venture into other markets in Asia and Latin America.
Leveraging technology for carbon project development
Thryve, a full-stack project developer headquartered in Singapore, operates in Indonesia, Brazil, and select regions in Africa.
The company utilizes a tech stack that includes remote sensing, machine learning, and advanced modeling to assess, design, and implement carbon projects.
Over the past 18 months, Thryve has engaged more than 500 field organizations and landowners across its current markets to identify promising project development opportunities.
The company has also begun servicing over 400,000 hectares of land for agroforestry, afforestation, and reforestation purposes, potentially generating more than 3.6 million carbon credits annually.
Jaclyn Seow, Openspace’s director of ESG, believes carbon markets have emerged as an inevitable cornerstone in the finance sector’s transition toward a low-carbon economy.
She stated that the principles of verifiable high quality, adaptability to evolving methodologies, and robust stakeholder engagement serve as pivotal differentiators, and that Thryve exemplifies these principles, establishing themselves as leaders in this space.
To read the original article in its entirety: https://www.techinasia.com/openspace-leads-sg-carbon-project-startups-26m-seed
