ImpactAlpha, October 5 — Seattle-based DroneSeed works on reforestation projects with government agencies, timber companies and nonprofits such as The Nature Conservancy.
The company uses a fleet of drones to plant seeds and seedlings as soon as within 30 days after a fire. DroneSeed sells the carbon credits to companies looking to reduce their carbon footprint.
The Series A financing was led by Social Capital and Seven Seven Six, with participation from DBL Partners, TIME Ventures, Spero Ventures, Tesla co-founder Marc Tarpenning and others.
More than half of the investors have a climate and impact focus, according to DroneSeed.
Seedling shortage
DroneSeed in August acquired Silvaseed, a forestry seed collection and seedling-supply business. Demand is growing with the active 2021 fire season.
The acquisition “enables us to scale up the infrastructure needed for reforestation to meet this skyrocketing demand and customer need,” said DroneSeed’s Grant Canary.
