Golden Gate Ventures led the funding round.
Climate tech startup Arkadiah Technology has raised funds to boost nature restoration. The company has closed a seed funding round with participation from Singapore’s Golden Gate Ventures.
The funding round also saw participation from climate-focused investor The Radical Fund and Japan’s Money Forward Venture Partners.
Based in Singapore, Arkadiah uses artificial intelligence to revive degraded lands. The company uses satellite imagery and ground truthing to provide transparent and verifiable data.
Arkadiah CEO Reuben Lai said that the funding will help the company’s expansion plans.
“Through transformative AI and digital monitoring technology, we are eager to accelerate project funding opportunities and scale needed land restoration to bring the highest quality carbon removal and biodiversity credits in Asia,” Lai said.
The funding announcement comes at a time when global leaders are battling complex climate issues in different parts of the world. While many consider nature-based climate solutions to provide a large percentage of mitigation needed to achieve the 1.5℃ target of the Paris Agreement, nature restoration projects are dealing with severe delays and lengthy processes amid limited technological resources.
“I am genuinely enthusiastic about our investment in Arkadiah. Their groundbreaking AI-enabled approach to nature restoration is not just innovative, it’s a vital step towards our shared climate goals for 2030,” Justin Hall, Partner at Golden Gate Ventures said.
Alina Truhina, Chief Executive Officer & Managing Partner at The Radical Fund, said: “We believe Arkadiah is poised to become a dominant player in the emerging asset class of nature-based carbon credits. Their multi-pronged approach, powered by deep technology and strategic partnerships, enables rapid scaling and accurate measurement of carbon sequestration.”
Despite a challenging year for the venture capital industry, 2023 turned out to be a landmark year for climate-focused companies. A report by London & Partners and Dealroom shows that London-based climate startups raised $3.5 billion in 2023, up 59% from $2.2 billion in 2022.
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