Thyrve.Earth, a Singapore-based technology-enabled project developer conserving and restoring nature, has on Wednesday announced a $2.6 million investment in a round led by a prominent regional venture capital firm, Openspace.

The round also attracted participation from existing investors, Capital Code, and key strategic angels, Thyrve.Earth said in a statement.

This brings the total funding raised by Thryve to $3.4 million.

According to the statement, this funding round will facilitate the build-out of next-generation tech tools to de-risk and streamline project assessment, as well as to design and implement projects.

It will also enable the company to grow the team and venture into other markets in Asia and Latin America.

“Traditionally, nature conservation or restoration efforts have been led by passionate individuals and supported through philanthropy and social responsibility initiatives,

“But now, we must go beyond isolated lighthouse projects and scale up our actions dramatically,” said Vinayshankar Kulkarni, Co-Founder and Chief Executive Officer, Thryve.Earth.

“This is critical, urgent, and non-negotiable if we aim to respect our planetary boundaries and nurture thriving ecosystems,” he added.

Meanwhile, Thryve.Earth Co-Founder and Chief Product Officer Ron Steinherz said they recognized from the outset that finding projects is only one half of the equation, and getting them financed is the other.

“It’s why we’ve put a lot of effort into understanding what financiers need for allocating capital, and then developing scalable tech enabled solutions to drive value and bridge the financing gap,” he added.

Thyrve.Earth was founded with the mission of creating a thriving earth and conserving and restoring nature to mitigate climate change through high-quality carbon projects.

There is sufficient consensus that over a third of the mitigation for climate change will come from nature, offering many other benefits along with it.

The start-up approaches this planet-critical issue with a distinct end-to-end approach.

It focuses on originating opportunities from the ground up before deploying its tech stack to assess, design, and implement projects that meet the highest industry standards, and solve for much-needed scalable solutions long term.

Recognizing that carbon project development is often constrained by misalignments amongst the multiple agents and stakeholders required to deliver them, Thyrve.Earth operates on the principle that building systems for scale requires strong collaboration and a service-oriented approach.

As a tech-enabled full-stack project developer, it brings together landowners, field organizations, local experts, and climate financiers to streamline the journey, while leveraging remote sensing, machine learning and advanced modelling, for efficient, high integrity and ecologically fitting development.

“As the trajectory of finance accelerates towards a low-carbon economy, carbon markets are emerging as an inevitable cornerstone,” said Jaclyn Seow, Director of environmental, social and governance (ESG) at Openspace.

According to her, the principles of verifiable high quality, the ability to adapt to evolving methodologies, and robust stakeholder engagement serve as pivotal differentiators.

“Thyrve.Earth exemplifies these principles and are firmly establishing themselves as leaders in this space,

“We are thrilled to continue to back the team and to champion their transformative efforts towards catalyzing urgent climate action,” she added.

It is noted that Thyrve.Earth has already made significant progress in a short time.

Over the past 18+ months alone, it has engaged with over 500 field organizations and landowners across Indonesia, Brazil, and Africa, unearthing promising project development opportunities.

It has also begun servicing over 400,000 hectare of lands for agroforestry, afforestation, and reforestation, and avoided deforestation projects, with the potential to solve for >3.6m credits annually.

Further benefits include improving livelihoods of smallholder farmers and local communities, providing food security, enhancing biodiversity, and protecting endangered species.

Thyrve.Earth has delivered on its promise since its inception, with stakeholders choosing to work with the start-up, appreciating its high integrity tech driven approach, including a custom-built platform for financiers to diligence opportunities and grow their funnel more effectively.

“At Capital Code, we are inspired by what Thryve.Earth has already accomplished and we are excited about the potential impact their future initiatives can have,” said Harsh Rajpal, Founding Partner, Capital Code.

“We believe that Thryve.Earth’s innovative approach to carbon project development is not just good for the environment, but also represents a significant advancement in how we approach climate finance,

“Their roadmap can unlock incredible outcomes for all stakeholders. We are proud to support their mission,” he added.

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