Athian, a cloud-based carbon marketplace for the livestock industry, has completed its seed funding round with investments from DSM Venturing and California Dairies.
The round aims to drive novel solutions for livestock farmers, securing global acceptance of its innovative transactional carbon credit inset programme. Previous investors in the round include Elanco Animal Health, Tyson Ventures and Newtrient LLC.
Athian’s carbon credit insetting platform is said to “enable livestock farmers who implement sustainable practices the ability to earn revenue to fund those initiatives”. The platform provides support to the beef and dairy value chains to capture and claim carbon credits earned through sustainability efforts.
The innovation provides livestock producers with economic incentives to adopt sustainable practices on their farms, as well as helps to improve the sustainability of the global food system and reduce global warming as a result.
Simon Vander Woude, chairman of the board at California Dairies, said: “[Our] membership has been leading the way in sustainable dairy farming investments, and we continue to move as fast as technology and on-farm economics allow. This is an opportunity to showcase that hard work while doubling down to drive innovation and further improve our environmental footprint, ensuring that our farms produce some of the most sustainable milk in the world, across all the various pillars of sustainability.”
Paul Myer, CEO of Athian, added: “We are excited by [California Dairies] and DSM Venturing’s enthusiasm for our innovative carbon marketplace platform. The groundswell of support has been tremendous. This announcement not only expedites our reach into international markets but also accelerates practical environmental solutions that give farmers new revenue streams and help companies deliver on their sustainability commitments throughout the value chain.”
He continued: “Global climate change requires all of us working together. And now, Athian can deliver on our goal of connecting the whole value chain. By joining forces with investors like [California Dairies], DSM Venturing and others throughout the livestock industry, we have a unique opportunity, with all the voices at the table, to support sustainability practice changes through carbon incentives. Together we can move the needle on climate change.”
As part of the investment, Scott Horner, regional managing director for North America at DSM Venturing, and Darrin Montiero, VP of sustainability at CDI, will join the Athian board of directors.
Terms of the transaction were not disclosed.
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