Espoo-based CollectiveCrunch, the creator of the AI-powered Linda platform that enables large-scale sustainable reforestation, announced on Tuesday that it has raised €1.4M in a fresh round of funding.
CollectiveCrunch develops products that reduce timelines in forest inventories and offers accurate insights into biodiversity and carbon stocks.
The round was led by existing investor Nidoco AB.
Nidoco AB CEO, Patric Castrén, says, “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.”
“We’ve already witnessed the significant impact of their technology in the market and look forward to their continued growth,” adds Castrén.
CollectiveCrunch: Everything you need to know
Founded in 2016 by Rolf Schmitz, Jarkko Lipponen and Christof Danzl, CollectiveCrunch is a green tech company that aims to build a sustainable future for forestry.
To improve forecasting of forest inventories and the tracking of carbon storage in forests for the carbon trading markets, the company gathers climate, geo, and process data and processes this information into AI models.
“With our self-updating tool, your forest resources are defined by species distribution and stand volume, and all other necessary details for you to be able to manage your forest resources efficiently and sustainably,” says the company.
Since its inception, CollectiveCrunch claims to have established a strong position in Europe and an emerging position in the US and Latin America.
Recently, the company was approved by Verra, a nonprofit company that runs standards in social and environmental markets, including the Verified Carbon Standard (VCS) Programme, the world’s most popular carbon accounting programme.
Schmitz says, “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.”
Seven of the top ten Nordic forestry companies presently use Linda Forest solutions, which currently spans 23 million hectares of forest.
Capital utilisation
CollectiveCrunch says it will use the funds to keep expanding and developing its portfolio, with a particular interest in the forest carbon market.
Schmitz says, “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.”
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