Startup raises funds for rice decarbonization

A French startup named CarbonFarm has raised 7 million euros in a Series A funding round to expand its efforts in reducing methane emissions from rice farming. The company, founded in 2022 by Vassily Carantino and James Hastwell, uses satellite monitoring, emission modeling, and climate financing to implement sustainable practices in rice paddies.

Methane’s role in climate change

Methane is a potent greenhouse gas with a warming effect about 80 times stronger than carbon dioxide over 20 years. Rice farming is a major source of methane emissions, and reducing these emissions is a key focus for climate change mitigation efforts.

Water-saving methods reduce emissions

CarbonFarm promotes a technique called Alternate Wetting and Drying (AWD), which involves periodically draining rice paddies to reduce methane production. This method can cut emissions by 30 to 70 percent, depending on local conditions, though it may lead to a slight decrease in crop yields.

Technology monitors and verifies impact

The startup uses AI-based satellite imagery, field data, and greenhouse gas models to track emissions reductions at the individual farm level. This approach aligns with the MRV framework, which requires accurate measurement, reporting, and verification of climate actions. CarbonFarm also partners with Regrow Ag to enhance its data analysis capabilities.

Collaborations drive local action

CarbonFarm works with farmers, cooperatives, agri-food companies, NGOs, and governments to support on-the-ground implementation. The company provides monitoring tools, project expertise, and access to financing, emphasizing the importance of local involvement in scaling up its initiatives.

Dual market focus and competition

CarbonFarm targets two main markets: agri-food companies aiming to cut their indirect emissions and buyers of carbon credits. The company competes with startups like Mitti Labs and Rize, which also focus on rice decarbonization. Mitti Labs, for example, has partnered with Google for a large carbon credit delivery goal.

Funding and expansion plans

The new funding comes from several investors, including Colam Impact, Proparco, and Bpifrance. Previous investors like Racine² and Techmind have renewed their support. The funds will be used to improve technology, expand in Asia, Africa, and Europe, and grow the company’s presence in Latin America.