Planboo, a carbon removal company established in 2020, has achieved a significant milestone by successfully closing its latest funding round, raising over $1.1 million. The company’s focus is on tracking and expanding biochar production in the Tropics. Investors like Katapult, Silverstrand Capital, Rockstart, Imaginal Seeds, and 8+ Ventures supported the funding round, demonstrating confidence in Planboo’s mission.
Planboo’s approach involves transparently monitoring the entire biochar production process through its digital MRV technology. This technology is adaptable to different types of kilns and biomass, making it easier for projects to be scaled up in various tropical locations simultaneously. The investment in Planboo reflects trust in the company’s ability to unlock biochar carbon removal credits from remote tropical regions.
The company’s digital Measurement, Reporting, and Verification (dMRV) tool facilitates remote tracking and auditing of biochar production and application on the ground. This tool saves time on tracking, minimizes human errors, and ensures transparency in the supply chain. Additionally, Planboo utilizes hardware in the form of an IoT Greenbox to automate data collection from biochar production, enabling real-time verification of carbon credits from any location.
Investors like Carl Strøm Walton from Katapult VC and Ann Goh from Imaginal Seeds have expressed optimism about Planboo’s potential in the Artisan Biochar space. They believe that Planboo’s MRV technologies will help decentralize biochar production processes and allow more farmers to benefit from the emerging biochar carbon credit market. With a mission to remove 1 billion tonnes of CO2 by 2050, Planboo is determined to be a leader in the biochar industry.
