September 13, 2024
Open Forest Protocol (OFP) offers a comprehensive digital solution for verifying and issuing carbon credits. It provides carbon developers with a no-cost, open-source, network-based verification system, enabling them to bring transparent and valuable carbon credits to the market. Recently, OFP announced the successful completion of its seed financing round, led by Übermorgen Ventures and supported by Backbone Ventures, GS Futures, and several prominent foundations.
Project | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|
Open Forest Protocol | September 13, 2024 | Seed Round | Ubermorgen Ventures | Web3 |
The Bloom Foundation, NEAR Foundation, and Fondation Valery also participated in the funding round, showing strong institutional support from the climate and technology sectors. Key figures like Myke Näf, Ines Najorka, and Tibère Adler will play crucial roles in the development of OFP and the future of on-chain natural assets.
Since its founding in 2021, OFP has hosted over 140 afforestation, reforestation, and regeneration projects worldwide through its blockchain-based Atlas Explorer product. This platform allows users to track the entire lifecycle of carbon credit generation, from project inception to verification, issuance, and offset.
About Open Forest Protocol
Open Forest Protocol (OFP) is a platform that helps verify and issue carbon credits for forest projects. It uses blockchain technology to ensure transparency and accuracy in measuring, reporting, and verifying forestation data. This system supports various projects worldwide, making it easier for developers to manage and monitor their efforts in combating climate change.
Website: https://www.openforestprotocol.org/
About Investor
Investor: Ubermorgen Ventures
Übermorgen Ventures is an early-stage venture capital firm that invests in climate tech startups. Their mission is to tackle climate change by supporting innovative technologies and business models. They provide funding and support to early-stage companies that aim to reduce greenhouse gas emissions and promote sustainability.
Location: Zurich
Website: https://www.uebermorgen.vc/
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