Planboo, a carbon removal company founded in 2020, has reached a significant milestone by closing its latest funding round, raising over $1.1 million with support from investors such as Katapult, Silverstrand Capital, Rockstart, Imaginal Seeds, and 8+ Ventures. The recent investment demonstrates the confidence that investors have in the company’s strategy for unlocking biochar carbon removal credits from remote tropical regions.
One of the key aspects of Planboo’s approach is its transparent tracking of the entire biochar production process using digital MRV technology. This technology is designed to be flexible and adaptable to different types of kilns and biomass, making it easier for projects to scale up in various tropical locations simultaneously. The digital Measurement, Reporting, and Verification (dMRV) tool play a crucial role in remote tracking and auditing of biochar production and application, reducing tracking time, minimizing human error, and ensuring transparency in the supply chain.
In addition to its digital MRV technology, Planboo also utilizes hardware such as the IoT Greenbox to automate data collection from biochar production. This enables real-time verification of carbon credits from anywhere, further enhancing transparency and accountability. With a mission to remove 1 billion tonnes of CO2 by 2050, Planboo is paving the way for sustainable carbon removal practices in the biochar sector. Investors like Katapult VC and Imaginal Seeds have expressed their support for Planboo’s efforts to drive innovation and make a positive impact in the global biochar market.
