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Photo: Planet FWD
Agriculture startup Planet FWD has raised $2.5 million in additional seed funding, and is debuting its first product: a snack cracker that the company says boasts a fully carbon-neutral manufacturing process.
Why it matters: About 25-30% of global greenhouse gas emissions come from the food production system, according to research from the United Nations.
Background: Planet FWD focuses on regenerative agriculture, a set of practices that offset carbon emissions.
What’s new: Moonshot, the company's fancy cracker, will be sold directly online and via Zero Grocery for $5.99 a box.
- Planet FWD has partnered with environmental consulting firm Native Energy to offset whatever carbon it couldn't eliminate from its production.
- Much of those emissions come from third parties it works with, so the company can't directly control them.
The big picture: The company aims to make software tools it built to develop Moonshot crackers available to other companies looking to produce carbon-neutral foods, founder and CEO Julia Collins, who previously co-founded pizza robotics company Zume, told Axios.
- “It was so hard to create this first product," says Collins of having to source every ingredient and process and ensure it's all carbon-neutral, which led her to the broader idea of making tools for other companies.
- And getting into the software business meant she'd need venture capital, she adds.
What's next: The company is currently providing a small number of initial customers some tools to assess their manufacturing. It will kick off a pilot program in February or March with tools focused on sourcing ingredients.
- Emerson Collective led Planet FWD's new financing, with Concrete Rose, MCJ Collective, Arlan Hamilton, BBG Ventures, January Ventures, Kapor Capital and others also participating.
Note: Emerson Collective is an Axios investor.
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