Yara Growth Ventures, the newly launched venture investing division of Yara International ASA, Oslo, recently announced a $4 million seed investment in Boomitra, Silicon Valley, Calif. Erkki Aaltonen, the Head of Yara Growth Ventures, will also join Boomitra’s Board of Directors.
Boomitra is an agricultural carbon marketplace which connects farmers selling carbon credits with large corporations and governments who buy them. It uses satellites to remotely certify and monitor a field’s soil organic carbon on field sizes as small as two hectares, enabling onboarding of farmers of nearly any size around the world.
In addition to Yara, other recent investors in Boomitra include Chevron Technology Investors; Jerry Yang, the co-founder of Yahoo; and Tom Steyer, the U.S.-based billionaire and sustainability investor.