CarbonFarm, a digital monitoring, reporting and verification (MRV) provider specialising in rice decarbonisation, has raised €7 million in an oversubscribed Series A funding round to expand its technology and support projects worldwide. The round was led by Colam Impact, with participation from Proparco, Suma Capital, elea, Working Capital Fund, Albo and Bpifrance. Existing investors Serena and makesense, through Racine², and Techmind also participated.
CarbonFarm develops technology and provides project development services to help the rice industry reduce greenhouse gas emissions, improve water management and access climate finance. The company works with rice producers, cooperatives, agribusinesses, NGOs, governments and local project developers to implement and measure changes in farming practices.
Rice cultivation accounts for around 12 per cent of human-caused methane emissions globally and uses up to 28 per cent of the world's freshwater resources. Improved water management can reduce emissions by up to 50 per cent and water use by 30 per cent without affecting yields. However, implementing these practices at scale remains challenging, as rice farming is dominated by smallholders, requiring coordination across thousands of farms and reliable methods to measure environmental impact.
To address these challenges, CarbonFarm combines AI-powered satellite imagery analysis, field-data collection tools and greenhouse gas modelling to monitor farming practices and quantify emissions at field level. The technology provides data to support carbon credit certification and emissions reporting across corporate supply chains.
Beyond monitoring, CarbonFarm supports partners with project development, financing, certification and access to carbon credit buyers.
Vassily Carantino, co-founder and CEO of CarbonFarm, explained the company's approach:
Scale will not come from replacing local value-chain players; it will come from equipping them. They understand the farming systems and have the relationships needed to make change happen. Our role is to help turn this local knowledge into programmes that can attract finance and stand up to scrutiny.
The company also emphasises the importance of reliable emissions data as carbon accounting requirements become more rigorous. James Hastwell, co-founder and CTO of CarbonFarm, noted:
Projects that can show clearly how their results were scientifically measured build greater confidence and can attract buyers willing to pay a premium for high-quality credits.
Since its previous funding round, CarbonFarm has expanded its operations to 19 countries, working with organisations across the food and agriculture sectors, carbon finance, international development and technology.
CarbonFarm plans to use the new funding to strengthen its presence across Asia, Africa and Europe while accelerating its expansion into Latin America. The investment will also support further development of its technology and project development capabilities, helping partners implement, finance and measure rice decarbonisation projects at a larger scale.