Cultivo, a Pleasanton-based public benefit corporation, has successfully raised $14 million in Series A funding in a round led by MassMutual Ventures and Octopus Energy Generation. This funding not only propels Cultivo’s total funding to over $20 million but also empowers the company to leverage its cutting-edge AI-driven science and technology platform for the acceleration of nature regeneration projects.
The funding round, co-led by MassMutual Ventures and Octopus Energy Generation, underscores the growing recognition of the pivotal role that artificial intelligence (AI) plays in addressing environmental challenges. Cultivo’s innovative platform, powered by AI, is at the forefront of its mission to unlock investments into regenerating nature at an unprecedented scale through meticulously designed, high-quality projects.
Mark Carney, former Bank of England governor, who recently joined Cultivo’s board, expressed his support for the company’s vision to tackle climate issues. The funding will enable Cultivo to leverage its AI-driven science and technology platform to accelerate the development of high-quality natural capital projects. Cultivo’s pipeline of such projects now surpasses 100 million hectares, exceeding the land size of California by more than double.
CEO and Co-Founder of Cultivo, Dr. Manuel Piñuela, emphasized the increasing recognition of the natural capital investment opportunity by investors. He stated, “Investors are recognizing the value and scale of the natural capital investment opportunity, and companies are wanting to secure a future supply of high-quality carbon removal credits.”
Cultivo’s approach involves co-designing and monitoring projects that focus on regenerating degraded land through sustainable grassland management or reforestation activities. The projects aim to measure the impact on carbon capture, biodiversity, water storage, and social aspects within local communities and land stewards.
Timothy Krysiek, Managing Partner of the Climate Technology Fund at MassMutual Ventures, highlighted Cultivo’s focus on leveraging technology to scale investment in high-quality, nature-based carbon removal projects. He mentioned, “Our investment in Cultivo reflects our broader strategy of partnering with exceptional teams who are addressing important, historically underfunded climate challenges.”
Alex Brierley, co-head of Octopus Energy Generation’s fund management team, lauded Cultivo’s tech-led approach and track record in carbon removal projects, expressing confidence in their long-term success in the essential and fast-growing market.
Cultivo’s trajectory, marked by substantial funding, strategic partnerships, and a growing project pipeline, positions the company as a key player in the intersection of technology and environmental regeneration, making a positive impact on a global scale.