Mombak, a Brazilian startup focused on large-scale reforestation and carbon removal, has raised $30 million in a Series A funding round led by Union Square Ventures (USV), marking a significant step in scaling its climate restoration efforts in the Amazon.
The financing round also included participation from existing investors Kaszek, Bain Capital, and AXA IM Alts, alongside new backers Lowercarbon Capital and Copa Investimentos. The funds will be used to expand operations, with Mombak aiming to transition from an early-stage startup to a large-scale restoration platform.
Founded in 2021, Mombak restores degraded agricultural and pasture land in the Amazon by planting native tree species and sells high-integrity carbon credits generated from the captured emissions to companies seeking voluntary offsets. The company has already planted five million trees across 45,000 acres—equivalent to three times the size of Manhattan—and is targeting eight million trees by June.
“We are moving from startup to scale-up,” said Mombak co-founder Gabriel Silva. “It was time to raise new capital to support this next phase of growth.”
The funding underscores growing investor interest in Brazil’s emerging carbon removal sector. Other players such as Biomas and re.green have also launched large-scale projects recently, attracting major corporate buyers including Google, Microsoft, Meta, and McLaren Racing, all of which have signed offtake agreements for Brazilian carbon credits.
To date, Mombak has secured approximately $150 million in carbon removal offtake contracts, with expectations to quadruple that figure in 2024. Since its founding, the startup has raised around $200 million in total investment.
Commenting on the investment, USV Managing Partner Andy Weissman said: “We believe carbon removal will be one of the defining industries of the 21st century. We’re proud to support Mombak’s mission to turn the Amazon into a global engine for climate restoration.”
