Energy Markets
Mombak, a Brazilian startup that specializes in reforestation, raises $30 Million through a USV-led round
The Brazilian reforestation company Mombak announced on Tuesday that it had secured $30 million from venture capital firm Union Square Ventures. This is another indication of the growing interest among investors in Brazil's carbon-removal sector. Mombak is a pioneer in this new industry. It restores farmland and pastures to Amazon rainforest using native species, and then sells carbon credits to companies that want to offset their greenhouse gas emission. Mombak stated that the latest Series A round included existing investors Kaszek and Bain Capital, as well as AXA's AXA IM Alts. Also, new investors Lowercarbon Capital, and Copa Investimentos were...