The open call had a focus on supporting startups and small and medium-sized enterprises that are scaling market-based and contextualized solutions to critical climate adaptation and resilience challenges. The CRA-Green is issued in accordance with standards set by the global Climate Bonds Initiative.Mexico City, Mexico & New York, NY (June 13th, 2022) – Village Capital and The Lightsmith Group announced that eight startups were selected to be part of the Climate Accelerator: ASAP focused on spotlighting climate innovation in Latin America and the Caribbean. It raised 140 million reals ($26.6 million) in the form of a Green Agribusiness Receivables Certificate (CRA-Green) – a form of fixed income instrument which allows businesses in the agrifood sector to securitize the payments they are owed by their customers. Last year, Solinftec said it became the world’s first agtech company to secure ‘climate bond’ financing. The most recent report from the UN Intergovernmental Panel on Climate Change notes that Latin America faces “greater vulnerabilities” than developed countries to climate change, which “could affect the region’s role as a food producer and lead to food insecurity.” Latin America is especially vulnerable to the negative impacts of climate change. The company said its precision ag platform had enabled customers to avoid over 680,000 tons of carbon dioxide emissions from 2016 to 2021 - roughly the same as planting 30 million trees or electrifying 700,000 cars each year. Solinftec recently struck a partnership with US-based ag cooperative Growmark to develop a new farm management robot to “increase yields, avoid wasted inputs, and lower environmental impacts.” “Our mission is to give each farm a sustainable future, promoting the accessibility of technologies to producers and transforming agriculture into a more productive practice, while preserving the planet,” Solinftec CEO Britaldo Hernandez said in a statement.īrazil’s Solinftec launches digital grain trading tools in US, Canada Its digital-ag platform links to farm machinery and is powered by an AI system called ALICE.AI that connects with sensors, computers and displays to provide growers with real-time, in-field crop data, information about inputs, and weather conditions. The company says it currently serves 85% of Brazilian sugarcane growers.Ī core goal of the company is to provide growers with better information to inform decision-making around planting, spraying, harvesting, and tendering and improve farms’ sustainability. Solinftec says its precision-ag farm operating system manages more than 27 million acres in the US, Brazil and other parts of Latin America, focusing on sugarcane, soy, corn and cotton, as well as perennials like coffee, timber, and citrus. Solinftec will use the funds to expand availability of its digital-ag operating system in North and South America. Lightsmith Group led the round with participation from existing investors Unbox Capital and Circularis Partners and several undisclosed investors. Disclosure: AFN’s parent company, AgFunder, is an investor in Solinftec.īrazil- and US-based farm management startup Solinftec has secured a $60 million growth investment round to expand its precision agriculture platform.
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