Renoster Raises $3.7M for Deep Transparency Vision
Corporations are increasingly committed to sustainability and climate goals, and many are turning to carbon offset markets as part of their strategy. With the recent VCMI Claims Code of Practice announcements, much was made of how companies can use offsets, and high-quality credits were lauded as the benchmark for what should be used.
However, there was little to no guidance on what a high-quality credit actually looks like. The lack of transparency and trustworthiness in these markets often hinder their efforts.
This is where Renoster steps in. We offer unprecedented levels of transparency and quality verification for carbon offset projects, allowing companies to confidently invest in impactful, legitimate projects.
Announcing Our $3.75M Seed Funding!
Renoster is thrilled to announce the closing of our seed round today. We are immensely grateful for the belief and commitment shown by our lead investors, Better Ventures and Climactic. We are equally delighted to be joined by a fantastic consortium of funds, including Seraphim Space, Possible Ventures, Cerulean Ventures, Techstars, and Vanagon Ventures. Our journey is further buoyed by the support of our angel investors such as Timothy Rann, Justin Hamilton, Maex Ament, Tariq Omar, and 2014 World Cup winning athlete and founder Mario Götze.
Renoster, at its core, is a technology company dedicated to developing cutting-edge software and data platforms for the carbon markets. Our mission is to rebuild the deep trust in these markets, which is now fuelled by a $3.75M belief in our Deep Transparency vision.
In our first year, we've already taken significant strides. We've reviewed 170 forestry projects, equating to more than 400M nature-based credits through our flagship product, Mercury Rubric. We have released 5 reviews publicly, equating to 24M credits under review, and we aim to add many more in the coming months.
We choose to chart a different path at Renoster. Our emphasis lies heavily on remote sensing, independence from project developers and sharing how we rate projects. We see our commitment to this approach as a key factor in achieving our vision.
Together, we are rewriting the future and bringing deep transparency to the world's carbon projects. It is our firm belief that carbon holds the potential to preserve and restore nature for generations to come.
Join us at Renoster. We’re hiring now for several roles to help us continue our mission to bring deep transparency to carbon markets.
What’s next for Renoster?
As we move forward, our aim is to continue developing and refining our technology and methodologies to increase the scope and impact of our work.
We are currently working on releasing the world's first open-source dataset of carbon project boundaries. This Global Carbon Project Geospatial database is designed to enhance cooperation within the carbon markets, making location data about carbon projects more accessible and transparent. Through this database, studies can be conducted on the entire carbon market instead of individual projects, evaluating the efficacy of different policy decisions on forest conservation.
Another exciting venture is our collaboration with Allied Offsets to release a Price vs Quality tool. This initiative will further improve the process of discovering high-quality carbon credits, providing invaluable data to facilitate informed decision-making in the carbon market.
We're not just about data and technology; we're about people and the planet. As we continue to grow, we are committed to building a team that is passionate about our mission. As we shape the future of carbon markets, we invite you to be part of our journey. At Renoster, every step we take is a step towards preserving and restoring nature for generations to come.
