CarbonFarm, a company specialising in satellite technology and project development for the decarbonisation of rice cultivation, has closed an oversubscribed €7 million Series A round, led by Colam Impact and with the participation of Suma Capital through SC Climate Tech Ventures I, its climate technology fund. The round also included Proparco, elea, Working Capital Fund, Albo and BPI France, alongside existing investors Serena and Techmind. 

For Suma Capital, the investment in CarbonFarm reflects its commitment to technologies that measure and support emissions reductions in agricultural activities. After reviewing a range of agritech opportunities, the firm valued the combination of proprietary satellite monitoring technology, project development experience and commercial traction through contract renewals. The investment in the French company is in line with the fund’s strategy of investing in southern Europe and gradually expanding its presence in central Europe. With this step, its fund SC Climate Tech Ventures I has made its first investment in a non-Spanish company. 

Rice is one of the most important crops for global food security and, at the same time, one of the most water- and methane-intensive, which makes its decarbonisation a high-impact climate opportunity. Against this backdrop, CarbonFarm combines digital measurement tools with project development expertise to support the decarbonisation of rice supply chains. Its digital MRV (Measurement, Reporting and Verification) technology integrates satellite imagery, ground data and greenhouse gas calculation models to monitor farming practices and quantify emissions at plot level, in both carbon projects and corporate decarbonisation programmes. 

The new funding will allow CarbonFarm to deepen its presence in Asia, Africa and Europe and accelerate its expansion in Latin America, as well as strengthen its technology and project development capabilities. 

Suma Capital will support CarbonFarm’s growth by facilitating commercial introductions to companies in the agri-food sector, access to public funding, and strategic and financial support. 

CarbonFarm has operated in 19 countries and carries out rice decarbonisation projects with local partners, and also provides digital MRV services and services linked to carbon markets. Among the projects it takes part in is the TRVC project, developed with the international development organisation SNV in Vietnam, which aims to reach 200,000 hectares of low-emission rice cultivation by 2028. 

To develop projects on the ground, CarbonFarm works with rice growers, cooperatives, agri-food companies, NGOs, public authorities and local developers who maintain relationships with farming communities. The company also facilitates access to climate finance and connects projects with carbon buyers and corporate supply chains. 

Its clients and partners include agri-food companies such as Mars Food and Diageo; carbon market and climate finance players such as Livelihoods Funds and myclimate; development organisations such as the World Bank, the Asian Development Bank, SNV, Helvetas and Action Against Hunger; and technology companies such as Google. 

CarbonFarm also works with Ebro Group. In Spain, it takes part in the Oryzonte project, which encourages rice farmers in Seville to adopt more water-efficient practices. CarbonFarm also collaborates with other group brands, such as Tilda in the UK and Ebro India, on similar initiatives. 

Xavier Sánchez, Partner at Suma Capital, said: “CarbonFarm tackles one of the main challenges of agricultural decarbonisation: turning changes in farming practices into impact that is measurable, verifiable and financeable. Its combination of proprietary technology, knowledge of rice cultivation and on-the-ground execution capability fits squarely with our thesis of investing in scalable climate solutions for hard-to-abate sectors. At Suma Capital, we want to support the company in this new stage, contributing our experience in growth, strategic planning and partnership development within the agri-food sector.” 

For his part, Vassily Carantino, co-founder and CEO of CarbonFarm, said: “Scale will not come from replacing local players in the value chain, but from equipping them with the tools they need. They know the farming systems and have the relationships needed to drive change. Our role is to help turn that local knowledge into programmes capable of attracting funding and delivering results that can withstand rigorous scrutiny.” 

Alternating periods of flooding and drying in rice paddies reduces the methane emissions associated with the crop. According to the International Rice Research Institute (IRRI), this practice can cut them by up to 50%. CarbonFarm verifies the adoption of these practices and quantifies the changes in emissions, providing evidence that facilitates the development of decarbonisation projects and their access to financing.