PE-VC Fund Investments
Climate-tech firm Mitti Labs raises $9.5 M led by Aramco Ventures
Bengaluru- and New York-based climate-tech firm Mitti Labs has raised USD 9.5 million in a funding round led by Aramco Ventures. The round saw participation from both new and existing investors, including Lightspeed India, Godrej Industries Group, Cisco Foundation, Francis Family Fund, and Volta Circle.Founded in 2023 by Devdut Dalal and Xavier Laguarta Soler, the company uses satellite imagery and AI to promote water-efficient farming practices. It generates carbon credits by verifying emission reductions from these sustainable agricultural methods, which are subsequently sold to corporations pursuing net-zero emission goals.The firm plans to use the fresh capital to expand its presence across India and enter new markets such as the Philippines and Indonesia.
In Jul 2024, Mitti Labs had attracted about $ 3 M from Lightspeed Ventures and others.
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