Fairatmos, an Indonesia-based carbon technology platform, has raised $4.5 million in its seed round, led by Go-Ventures and Kreasi Terbarukan TBS, the investment arm of one of Indonesia’s leading integrated energy companies, Toba Bara Sejahtera.

The round also saw participation from Vertex Ventures Southeast Asia and India and prominent angel investors, Fairatmos said in a statement on Tuesday.

Fairatmos plans to use the new funds to strengthen its platform, providing new digital innovations in the carbon market; outreach to more communities and project developers; and grow the team across multiple functions, including remote sensing analytics experts, as well as product and engineering roles.

“Under the 2015 Paris Agreement, 196 countries endorsed the global goal of maintaining the rise of global temperature by 1.5 C, which means cutting greenhouse-gas emissions by 50 percent by 2030,

“702 companies globally have pledged their net zero target, which is a vast growth in the previous year, including in Indonesia. One way for companies to meet their targets is to counterbalance their emission via carbon credits,” said Natalia Rialucky, Founder and Chief Executive Officer of Fairatmos.

“Developing high quality, scalable carbon sequestration projects is not an easy task. Despite the abundant potential for Indonesia to become the carbon sink of the world, historically there have been few projects in Indonesia, as there are many technical barriers and upfront costs that make it challenging for communities and organisations to participate,” she added.

Founded in 2022, Fairatmos is an Indonesia-based carbon technology platform aiming to democratize access to carbon markets. The company is building an innovative solution to help project developers design carbon sequestration projects and verify carbon credits, and to connect project developers with companies and individuals that seek to buy or finance carbon credits to reach their net-zero goals.

By providing technical knowhow and free digital pre-feasibility studies for carbon projects, Fairatmos also improves the livelihoods of the smallholder communities through additional income from carbon credits and reduced degradation of their surrounding ecosystem.

In the future, Fairatmos plans to connect developers with companies and individuals who seek to counterbalance their carbon emissions as part of their net-zero goals.

In less than one year of operations, Fairatmos has gained strong traction and worked with over 40 project developers across several carbon sequestration projects in mangroves, forests and agriculture.

“With over 126 million hectares of forest cover, Indonesia is globally known as the ‘world’s lungs’. There is huge carbon market3 potential in Indonesia, with $565 billion worth of
carbon economic value,” said Aditya Kamath, Partner at Go-Ventures.

Fairatmos has been in close partnership with the Indonesian government to follow regulatory guidance in developing carbon projects. The firm is also led by a strong founding team, with exceptional blue-chip experience and proven track record in climate and sustainability.

“Moving forward, we aim to continue breaking barriers and developing technological innovations for our platform that will allow greater access to capital and technical expertise for carbon sequestration projects,” concluded Natalia Rialucky.

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