Yard Stick PBC, a Cambridge, MA-based soil carbon measurement technology company, closed its final Series A tranche of $1.4M.
This brought the Series A round to $12m, and its overall venture capital funding to date to nearly $18M. The financing is the second and final tranche of Yard Stick PBC’s Series A, announced in August 2023. Extantia Capital, a climate-first venture capital firm, joined the final tranche. In addition to Extantia, Series A investors include Toyota Ventures Climate Fund, Microsoft Climate Innovation Fund, The Nature Conservancy, Lowercarbon Capital, Breakthrough Energy Ventures, Pillar VC, and an extended group of climate-committed founders, angels, and family offices.
Led by Chris Tolles, CEO, Yard Stick provides a soil carbon measurement solution, which includes proprietary hardware and software, to solve the high cost issue of accurately sampling, quantifying and verifying carbon sequestration in soil, a critical part of offsetting projects. The company’s technologies can measure soil organic carbon up to a metre in depth, create statistically-sound sample plans and collect measurement data in real time, while at the same time reducing the cost of measurement by 70-90%.
With solid sales traction, Yard Stick has already secured multi-year contracts worth more than $17M in revenue, with a pipeline of customers including some of the biggest players in the soil markets. Their proximal sensing method and broader technology suite are already compliant with voluntary carbon market crediting programs, and their fieldwork to date has already covered many hundreds of thousands of acres across 26 US states.
FinSMEs
29/11/2023