From Yahoo Finance: 2025-05-03 11:43:00

Brazilian startup Mombak raised $30 million in Series A funding led by Union Square Ventures and included investors like Kaszek, Bain Capital, and AXA IM Alts, plus new backers Lowercarbon Capital and Copa Investimentos. The funding will support Mombak’s mission to restore degraded farmland in the Amazon rainforest and generate carbon credits for companies.

Mombak, founded in 2021, has already planted 5 million native trees across 45,000 acres and aims to reach 8 million trees by June. The company’s approach involves restoring native vegetation on degraded Amazon land, generating carbon credits for companies to offset emissions, and contributing to biodiversity and ecosystem restoration in the region.

Major companies like Google, Microsoft, Meta, and McLaren Racing have committed to purchasing carbon credits from Mombak. Google has agreed to buy 50,000 metric tons of carbon credits by 2030, marking its first carbon removal partnership in South America. Microsoft and Meta have also pledged support for nature-based carbon removal through contracts with Mombak.

In addition to private equity funding, Mombak secured $17.8 million from Santander Brasil and Brazilian state development bank BNDES, becoming the first reforestation project supported by Brazil’s New Climate Fund. With over $200 million raised, Mombak is positioned as a leader in large-scale reforestation and climate restoration efforts through natural solutions.

Union Square Ventures’ managing partner Andy Weissman emphasized the importance of carbon removal, stating that it will be a defining industry of the 21st century. Mombak’s commitment to environmental impact and economic innovation, combined with demand from global corporations, positions it to lead in climate restoration efforts.



Read more at Yahoo Finance: Google, Microsoft, Meta, And McLaren Back Mombak’s $30M Amazon Reforestation Push, Targeting $600M In Carbon Credit Deals By 2025