Octopus Energy Invests in Nature Tech Platform
Octopus Energy Generation and MassMutual Ventures co-led a $14 million Series A funding round for Cultivo, a Pleasanton, CA-based startup that aims to accelerate large-scale regeneration of nature.
Salkantay Ventures and Peña Verde also participated. The round comes after former Bank of England Governor Mark Carney joined Cultivo’s board, bringing the company’s total capital to more than $20 million.
The fresh capital is expected to “supercharge” Cultivo’s AI-powered science and technology platform, which connects greenfield projects with potential financial institutions and corporations looking to invest.
The platform will direct funding to land regeneration initiatives that reduce emissions, promote biodiversity, and improve water storage, according to the company.
“This funding allows us to continue to deliver our growing pipeline of high-quality natural capital projects for our institutional customers and accelerate the development of our AI-driven science & technology platform,” said Dr Manuel Piñuela, CEO and co-Founder of Cultivo.
Cultivo recently struck an agreement with Octopus Energy Generation for them to invest up to $40 million in natural capital projects in North America, Europe, and Australia.
Founded by James Clifton and Pinuela in 2019, Cultivo’s pipeline of natural capital projects surpasses 100 million hectares, equivalent to more than double the land size of California.
As per the company, this pipeline can remove over 3 Gigatons of carbon dioxide, roughly equivalent to the EU’s annual carbon emissions as of 2022.
Pictured: Cultivo project in Sierra del Carmen, Coahuila, Mexico
