Climate Tech Startup Andes Raises $30 Million to Remove Carbon using Farm Soil
Climate tech solutions startup Andes announced the completion of a $30 million Series A funding round, aimed at enabling the company to expand its microorganism-based carbon removal solution and commercialize its carbon removal credits.
Alameda, California-based Andes uses microorganisms to permanently remove carbon dioxide from the atmosphere. Through partnerships with farmers, the microorganisms are added to soil along with agricultural seeds, such as corn and wheat, and grow with the plan roots, while capturing carbon dioxide and converting it into minerals in the ground for thousands of years, and generating carbon removal credits validated through soil sampling.
According to Andes, by enrolling in its carbon removal program, farmers can increase their net income of operations by up to 25%. The technology has been deployed across 25,000 acres, and to date, Andes has removed more than 50,000 tonnes of CO2 from the atmosphere.
The company said that the new funding will enable it to offer its carbon removal credits to organizations of all sizes, expand partnerships with farmers, and continue the development of its microorganism technology.
Gonzalo Fuenzalida, CEO and co-founder of Andes, said:
“Andes is proud to transform the carbon dioxide removal industry with the tools that are required for a brighter, livable future for all. The completion of our Series A marks another milestone on our timeline of accelerated growth as the first company to provide organizations with high volume, long-lasting carbon removal solutions at a low price point.”
To date, Andes has raised $38 million, with investors including investors including Voyager VC, Yamaha Motor Ventures, Leaps by Bayer, Cavallo Ventures, KdT Ventures, Venturance, Germin8, and Accelr8.
Sarah Sclarsic, co-founder and managing partner at Voyager VC, said:
“At Voyager VC, we’re committed to backing climate-motivated founders who are leading the charge in the global carbon transition. By supporting Andes, we’re doing exactly that as the company continues to build groundbreaking solutions at the intersection of biology and climate tech.”