Australian startup AirSeed Technologies is looking to raise up to $15 million in a Series A funding round. The company has partnered with investment manager Conscious Investment Management (CIM) to establish a CO2 capture fund and tap into a “billion-dollar opportunity” for its planting technology that uses drones to autonomously plant seeds via AI.
The Series A, announced on March 27, will provide the Sidney-based startup with funds to execute its contract with CIM – which has a $200 million carbon sequestration fund – and scale its business.
The company is talking to corporate investors who see the economic and environmental potential of AIrSeed’s biotechnology, said CEO and co-founder Andrew Walker.
Venture capital and corporate advisory firm TWIYO is among the company’s existing investors, which led a bridging round late in 2022 prior to the Series A funding round.
As part of the collaboration, AirSeed will be CIM’s planting and tech partner for the CO2 capture fund in the upcoming five years.
According to AirSeed, the newest partnership are a testament to the validity of the company’s value proposition for the large-scale application of its planting technology.
To support the company’s growth, climate transaction and business expert Mara Bún will be joining the board of the scale-up.
The new appointment will support AirSeed’s mission to plant 100 million pods by 2024, Walker said.
CIM is an independent impact investment fund manager that focuses on investing in social infrastructure, housing, and sustainability real assets in Australia and New Zealand.
AirSeed was established in 2018 by co-founders Andrew Walker and Andres Louw.