A startup based in Singapore focused on delivering data on biodiversity and carbon credits has closed its seed funding round.
Arkadiah Technology ended the round led by Golden Gate Ventures, with participation from fellow venture capitalists The Radical Fund and Money Forward Venture Partners (Hirac Fund), it said in a press release.
Arkadiah told Carbon Pulse it did not want to share the amount raised at this stage.
“Through transformative AI and digital monitoring technology, we are eager to accelerate project funding opportunities, and scale needed land restoration, to bring the highest quality carbon removal and biodiversity credits in Asia,” said Reuben Lai, CEO of Arkadiah.
Arkadiah uses AI and satellite data to try to provide verifiable data with scientific rigour that can help to “streamline” the deployment of nature-based climate solutions.
Its platform was “purpose-built” for the landscape of Southeast Asia, an area that could host a significant number of nature-based initiatives due to a concentration of tropical forests, key biodiversity hotspots, and agriculture-dependent economies, it said.
Justin Hall, partner at Southeast Asia-focused Golden Gate Ventures, said Arkadiah’s “AI-enabled approach to nature restoration is not just innovative, it’s a vital step towards our shared climate goals for 2030”.
“Seeing the potential impact in Southeast Asia, a region close to our hearts, is especially exciting.”
Arkadiah is piloting its methods in over 15 projects in Southeast Asia and Australia. With the new funding, it plans to enhance its AI models and expand its product offerings.
“We believe Arkadiah is poised to become a dominant player in the emerging asset class of nature-based carbon credits,” said Alina Truhina, CEO at The Radical Fund.
“We have been seeing real demand for sustainable climate solutions among Japanese corporations as Japan aims to achieve carbon neutrality by 2050, and we are confident that Arkadiah is uniquely positioned to provide quality nature-based carbon credits in the Asia Pacific region,” added Naoya Kanesaka, managing partner at Tokyo-based Hirac Fund.
By Thomas Cox – t.cox@carbon-pulse.com
*** Click here to sign up to our twice-weekly biodiversity newsletter ***
