Finnish scale-up CollectiveCrunch has announced a €1.4 million fundraise for international expansion and to sink its roots into the forest carbon market.
The investment round was led by CollectiveCrunch’s existing investor Nidoco AB.
“CollectiveCrunch is fundamentally changing how the forestry industry monitors forest health and CO2 capture thanks to its revolutionary platform that uniquely utilises data and provides near real-time insights into forest biodiversity and forest carbon sink more accurately than ever before,” says Patrick Castrén, CEO of Nidoco. “We’ve already witnessed the significant impact of their technology in the market and look forward to their continued growth.”
Founded in 2016 CollectiveCrunch developed the AI-powered Linda platform to enable sustainable forestry by utilising climate, geo, and customer process data to arrive at better predictions of forest inventory at scale. With a handle on the European markets CollectiveCrunch are expanding markets in the United States and Latin America.
“We’re thrilled that our investors trust our team and technology amid these challenging economic times,” says CollectiveCrunch co-Founder Rolf Schmitz. “With a business strategy designed for efficient growth – and an expanded solution portfolio that features core products adapted to serve a variety of needs – we’re uniquely positioned to support the digital transformation of the forestry industry.”
CollectiveCrunch was recently approved by Verra a non-profit organisation that operates standards in environmental and social markets, including the world’s leading carbon crediting program, the Verified Carbon Standard (VCS) Program.
“Verra’s approval is an important milestone for us and we are delighted that we can help build credibility in the forest carbon market through our unique methodologies. The market needs transparency and our approach with near real-time monitoring and forest asset analysis responds to that specific need,” adds Schmitz.