Reforestation startup Flash Forest has secured an $11.4 million Series A financing round co-led by the TELUS Pollinator Fund for Good and OurCrowd.
Despite the growing need for reforestation, tree planting is still largely executed by hand and shovel, a method that is laborious, difficult, and faces challenges in terrain with limited accessibility.
Flash Forest uses drones and technology to regenerate post-wildfire areas that are deemed too unsafe for human tree planters.
The new investment will support the development and expansion of Flash Forest’s rapid post-wildfire reforestation solution through North America in the fight against climate change.
“With this investment by the TELUS Pollinator Fund, Flash Forest is partnering with a significant social impact fund, that doesn’t simply act with a profit-first mindset like many VCs, but clearly identifies with and supports our mission of 1B trees and beyond to mitigate climate change and biodiversity loss,” said Bryce Jones, Flash Forest’s CEO and co-founder.
“In addition to TELUS’ environmental leadership and steadfast commitment to becoming a zero waste and net carbon neutral company by 2030, there’s enormous internal resources and support that make this an extremely exciting and mutual partnership.”
In combination with the financing announcement, Flash Forest has also entered into a multi-year commercial agreement with the TELUS Sustainability & Environment team to provide drone planted trees for their customers.
Through this partnership, TELUS will offer Flash Forest’s technology to help businesses from various industries achieve their own environmental goals with end-to-end digital forestry solutions, leveraging TELUS world-leading networks and remote connectivity technologies.
“Climate change is one of the world’s most critical challenges, and more frequent, severe wildfires are a symptom of an overheating planet,” said Blair Miller, Managing Partner, TELUS Pollinator Fund.
“By investing in Flash Forest, we can efficiently and safely increase reforestation after wildfires. It’s a perfect fit with the TELUS Pollinator Fund, as we are uniquely positioned to unlock the capabilities of TELUS to further scale sustainable solutions that address some of the world’s most pressing social challenges.”
Leave a Reply