CarbonEthics, an Indonesia-based developer of natural climate solutions, has completed a seed funding round of US$2.1 million led by Indonesia’s Intudo Ventures, with support from angel investors.

The recent financing will enable CarbonEthics to acquire more carbon projects and involve more technical experts. By 2030, the company aims to manage 8 million hectares of land.

Founded in May 2019, CarbonEthics specializes in blue carbon ecosystems while also focusing on peatland and green ecosystems. It aims to restore ecosystems that help businesses lower carbon emissions.

This financing follows an earlier US$220,000 pre-seed funding round completed in 2023, provided by Spiral Ventures and Ecoxyztem.

CarbonEthics has conducted pre-feasibility studies for carbon projects across over 4.2 million hectares, potentially yielding over 1 million tonnes of verified CO2e annually.