French startup Morfo, which specializes in reforestation of tropical areas, has raised €4 million ($4.5 million) in a funding round led by impact investment firm Demeter, with participation from RAISE Ventures, AFI Ventures, and TeamPact Ventures, as well as business angels. The funds will be used to further develop and commercialize Morfo’s ecological reforestation solution for forest ecosystems using drones, which combines seed encapsulation, microbiology, and computer vision. The startup collects data through drones and satellite imaging to analyze biodiversity and create a plan for reforestation. 2CFinance carried out financial due diligence for the transaction.
Morfo was founded in 2021 by Adrien Pages, Hugo Asselin, and Pascal Asselin. The additional funding will allow the company to expand its solution and launch it in new territories. Demeter is a leading impact investment firm with over €1 billion ($1.1 billion) under management across various sectors, including energy, mobility, and agriculture. RAISE Ventures is a French venture capital fund that invests in startups with strong growth potential. AFI Ventures is a venture capital firm that focuses on positive impact investment. TeamPact Ventures is a French investment fund that supports startups with high growth potential.
In addition to its ecological benefits, Morfo’s solution has the potential to create jobs in reforestation and data analysis. The company’s use of drones for data collection and analysis also has the potential to reduce costs and increase efficiency compared to traditional reforestation methods. The funding round is a positive sign for the future of sustainable forestry and the use of technology in reforestation efforts.