Hedonova invests $16M in Carbonomy's Series A round to help farmers increase revenue through carbon credits

NEW YORK, March 13, 2023 /CNW/ -- Hedonova, a Paris-based hedge fund, has announced its equity investment of $16 million in Carbonomy's Series A funding round at a valuation of $130 million. Carbonomy is a firm that helps farms become sustainable and increase their revenues by earning carbon credits.

This investment aligns with Hedonova's commitment to invest in innovative and socially responsible projects that deliver long-term value to their clients. Hedonova recognizes that sustainability and environmental responsibility are critical for the success of any business, and they are proud to support Carbonomy's efforts in promoting sustainable agriculture practices.

Carbonomy's platform enables farms to earn carbon credits by adopting sustainable practices such as reducing the use of fertilisers and pesticides, improving soil health, and implementing renewable energy solutions. Carbonomy helps farmers reach certain standards which allow them to earn carbon credits. These credits can then be sold to companies and organisations that want to offset their carbon footprint and achieve their sustainability goals.

"We are excited to support Carbonomy's mission to help farms become more sustainable and increase their revenue. This investment will be part of our agricultural portfolio and will be used to service our current and new agri investments by helping them earn carbon credits," says Alexander Cavendish, CEO of Hedonova. "Their innovative approach to promoting sustainable agriculture practices aligns with our commitment to investing in socially responsible projects that deliver long-term value for our clients."

Carbonomy's platform has the potential to revolutionize the agricultural industry by promoting sustainable practices and creating new revenue streams for farmers. By supporting Carbonomy's growth, Hedonova aims to contribute to the development of a sustainable and socially responsible business model that delivers long-term value for all stakeholders.

"We are thrilled to have the support of Hedonova in our mission to promote sustainable agriculture practices," says Mark David Frank, CEO of Carbonomy. "This investment will enable us to expand our platform and reach more farmers, helping them to earn more revenue while adopting environmentally responsible practices."

Hedonova's investment in Carbonomy is part of their broader strategy to support its agricultural investment portfolio. Their commitment to promoting sustainable development and improving the economic well-being of local communities is a testament to their dedication to creating positive impact through investment while generating superior returns for their clients.

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SOURCE Hedonova