The Fairatmos founding team
Jakarta-based carbon technology platform Fairatmos has received US$4.5 million in a seed round of financing.
Go-Ventures and Kreasi Terbarukan TBS, the investment arm of energy companies Toba Bara Sejahtera, led the round.
Vertex Ventures Southeast Asia and India and prominent angel investors also participated.
Fairatmos plans to use the new funds to strengthen its platform, providing new digital innovations in the carbon market and outreach to more communities and project developers.
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A part of the funds will go into growing the team across multiple functions, including remote sensing analytics experts and product and engineering roles.
Founded in 2022 by CEO Natalia Rialucky, Fairatmos builds an innovative solution to help project developers to design carbon sequestration projects, verify carbon credits, and connect with companies and individuals seeking to buy or finance carbon credits to reach their net-zero goals.
Its mission is to improve the livelihoods of smallholder communities through additional income from involvement in carbon projects and reduced degradation of their surrounding ecosystem.
In the future, Fairatmos plans to connect developers with companies and individuals who seek to counterbalance their carbon emissions as part of their net-zero goals.
Rialucky said: “Under the 2015 Paris Agreement, 196 countries endorsed the global goal of maintaining global temperature rise by 1.5 C, meaning cutting greenhouse-gas emissions by 50 per cent by 2030. 702 companies globally have pledged their net zero targets, a vast growth in the previous year, including Indonesia. One way for companies to meet their target is to counterbalance their emission via carbon credits.”
“Developing high-quality, scalable carbon sequestration projects is not an easy task. Despite the abundant potential for Indonesia to become the carbon sink of the world, historically, there have been few projects in Indonesia, as there are many technical barriers and upfront costs that make it challenging for communities and organisations to participate.”
The startup has so far gained good traction and worked with over 40 project developers across several carbon sequestration projects in mangroves, forests and agriculture.
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It also works with the Indonesian government to follow regulatory guidance in developing carbon projects.
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