|
Listen to this story:
|
- $30M Series A led by USV will fund Mombak’s expansion from startup to large-scale reforestation platform.
- $150M in carbon credit contracts secured—with projections to quadruple in 2024.
- Investor momentum builds in Brazil’s carbon removal sector, drawing major corporate offtakers like Google, Microsoft, and Meta.
Brazilian carbon removal startup Mombak has secured $30 million in Series A funding, led by Union Square Ventures (USV), to accelerate reforestation and carbon credit operations across the Amazon.
Founded in 2021, Mombak restores degraded farmland and pasture by planting native trees, generating high-integrity carbon credits for the voluntary offset market. The company has already planted five million trees over 45,000 acres—an area three times the size of Manhattan—and aims to reach eight million by June.
“We are moving from startup to scale-up,” said Mombak co-founder Gabriel Silva. “It was time to raise new capital to support this next phase of growth.”
The round also saw participation from returning investors Kaszek, Bain Capital, and AXA IM Alts, along with new backers Lowercarbon Capital and Copa Investimentos. The capital infusion will support operational scale-up and help meet surging demand from global buyers.
Mombak has already secured $150 million in carbon removal offtake contracts and expects that volume to quadruple in 2024. This aligns with broader momentum in Brazil’s carbon removal sector, with players like Biomas and re.green also attracting high-profile corporate buyers.
RELATED ARTICLE: Reforestation Startup Mombak Secures $18 Million Backing from Santander, BNDES
Tech giants including Google, Microsoft, and Meta, along with McLaren Racing, have signed agreements to purchase carbon credits from Brazilian restoration initiatives.
“We believe carbon removal will be one of the defining industries of the 21st century,” said USV Managing Partner Andy Weissman. “We’re proud to support Mombak’s mission to turn the Amazon into a global engine for climate restoration.”
With this latest round, Mombak’s total raised reaches $200 million, positioning the company as a leader in Latin America’s climate finance frontier.
Follow ESG News on LinkedIn