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SUSTAINABLE AG PRACTICES DEVELOPER CIBO TECHNOLOGIES CLOSES $30 MILLION IN SERIES C FUNDING
Oct. 22, 2021
CIBO reports:
Cambridge, MA and Minneapolis - CIBO, the science-based technology company that supports growers and enterprises on their journey to regenerative agriculture, today announced it has closed $30 million in series-C financing.
"Our investors believe in our mission to drive widespread adoption of regenerative farming practices," said Daniel Ryan.
The funding reflects investor confidence in CIBO's ability to help enterprises and growers achieve their sustainability objectives by leveraging CIBO Enterprise, an advanced monitoring,verification and reporting (MVR) platform. CIBO Enterprise connects food and agricultural enterprises to growers in their value chain, and connects growers to incentives that drive regenerative agriculture practices.
The platform enables generation of carbon credits for offsetting, management of scope 3 emission reductions in the food value chain, and directs incentives to growers for new practice adoption.
"We are delighted that our current and new investors believe in and support the next stage in our mission to drive the widespread adoption of regenerative farming practices," said Daniel Ryan, chief executive officer, CIBO. "Regenerative practices sequester carbon in the soil and reduce emissions from farming, reversing climate change and making our food system more resilient," continued Ryan.
"Regenerative agriculture is a top priority for both growers and grower-focused businesses, and the key to accelerating agricultural transformation is leveraging science and technology at scale," said Ignacio Martinez, Flagship Pioneering General Partner and CIBO co-founder. "With this funding, CIBO is well-positioned to support industry leading enterprises and growers in achieving their sustainability goals".
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