The round was led by Index Ventures, a European venture capital firm with over $4 billion of asset under management, and also included Insight Partners, Salesforce Ventures and Local Globe.
Based on disclosed trades, the voluntary carbon market exceeded $1 billion of transactions in 2021. By 2030, the value of transactions in the voluntary carbon market is forecasted to grow to at least $7 billion and potentially $14 billion.
Second, improved data could create dwindling responsibilities for the current carbon project verifiers like BSI and Bureau Veritas who typically check on project performance once every three years which offers weaker quality guarantees than daily or weekly satellite verification.