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Chloris Geospatial, the leading company in global forest carbon monitoring, welcomes the Cisco Foundation and NextSTEP as invest

Chloris Geospatial, the leading company in global forest carbon monitoring, welcomes the Cisco Foundation and NextSTEP as investors

PR Newswire

BOSTON, May 29, 2024 /PRNewswire/ -- Chloris Geospatial, the leading technology company measuring forest carbon from space, welcomes the Cisco Foundation and NextSTEP as investors. The two new additions join existing investors AXA IM Alts, Orbia Ventures, At One Ventures, and Counteract in a new funding round that will support the continued advancement of Chloris' mission.

Forest conservation and restoration are vital solutions to the climate change and biodiversity crisis and a necessary tool to steer the global economy toward attaining net-zero emissions by 2050. Chloris' monitoring technologies enable the scaling of these solutions by allowing trustworthy assessment of their impact on the ground.

Developed under the guidance of its co-founder and Chief Science Officer, Dr. Alessandro Baccini, Chloris' technology produces reliable annual estimates of biomass density and quantifies forest carbon stock and change for any area of interest by utilizing earth observation data, proprietary sensor fusion, and machine learning algorithms. Chloris' technology empowers governments, companies, civil society organizations, indigenous peoples, and local communities to track all biomass dynamics – including those arising from deforestation, degradation, and growth of trees – from field to continental scale and understand the impact of their forest carbon projects and supply chains.

The new funding round will enable Chloris to meet the evolving needs of the market, while facilitating continued commercial growth and solidifying Chloris' position as the most trusted name in remote sensing for forest carbon accounting.

"We are thrilled to have secured continued support from our existing investors and extend a warm welcome to the Cisco Foundation and NextSTEP," said Chloris co-founder and CEO Marco Albani. "This investment reaffirms the confidence of our investors and their commitment to our mission of delivering high-integrity data on the impact of nature and climate action."

Chloris also announced today that Adam Gibbon, Natural Capital Lead at AXA IM Alts, has joined its board of directors.

"We think that Chloris' technology is a leap forward, allowing forest biomass measurement at unparalleled scale, speed and accuracy, and expect it to become the de facto standard for forest carbon projects and supply chain footprinting. This investment contributes to AXA IM Alts' mission to invest into activity and solutions that ensure the protection, restoration, and sustainable management of natural capital," said Adam Gibbon, Natural Capital Lead at AXA IM Alts.

"Through the Cisco Foundation's climate investments, we strive to support early-stage climate ventures that can catalyze substantial climate impact," said Elias Habbar-Baylac, Climate Investor with the Cisco Foundation. "Our support for Chloris Geospatial is rooted in their exceptional ability to monitor forest carbon dynamics with precision and scale. Chloris' advanced sensor fusion technology and machine learning models provide essential data for robust, scalable natural carbon sinks management, aligning with Cisco Foundation's strategy to protect and scale natural carbon sinks." The Cisco Foundation was established in 1997 with a gift from Cisco. In 2021, the Cisco Foundation committed US$100 million over the next 10 years to fund innovative climate solutions.

"Our strategic investment in Chloris, a decision made in alignment with our mission and values, reflects the critical role of trusted monitoring technologies in tackling climate change effectively," said Claudio Colombo, Managing Director at NextSTEP. NextSTEP (NextEnergy Sustainable Technology for the Planet) is an investment initiative promoted by NextEnergy Group dedicated to pre-seed and seed investments in CleanTech startups.

"Nature based solutions are critical components in humanity's efforts to reduce carbon in the atmosphere. Orbia Ventures spent many months evaluating the remote sensing market before deciding to invest in Chloris. Having the best team in the industry, Chloris is the only company in the world that can cost effectively and at scale measure the carbon stocks and changes in every forest in the world since the year 2000," said Shai Albaranes, VP Innovation and Ventures at Orbia.

About Chloris Geospatial

Chloris Geospatial is a leading provider of trustworthy forest carbon insights, leveraging artificial intelligence and machine learning to create innovative solutions that drive business value. The technology helps businesses make informed decisions and improve operations through scalable and cost-effective actionable insights maximizing funds for action on the ground.

For more information, visit www.chloris.earth.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/chloris-geospatial-the-leading-company-in-global-forest-carbon-monitoring-welcomes-the-cisco-foundation-and-nextstep-as-investors-302158116.html

SOURCE Chloris Geospatial



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