Shopify CEO Tobi Lütke Invests in Reforestation Startup DroneSeed

If you remember, back in September wildfires burned in the Western US, and, last month, reforestation startup DroneSeed announced a $36 million Series A round, after the company already purchased a 130-year-old Western Washington forestry company, Silvaseed respectively.

Silvaseed is specialized in collecting seeds and cones, and growing seedlings as well, and DroneSeed, a Seattle based startup, will use its know-how (and cash) to meet and expand the growing demand for its services.

This is not the first time when DroneSeed raises money for reforestation purposes, as they previously managed to collect $7.4 mn., as it’s literally the only company that has an FAA license which allows it to use heavy lift drones to mitigate post fire reforestation.

This is what the name DropSeed signifies, and the company is capable of deploying its seed dropping drone fleet within a month of a fire, which is much faster compared to old-school strategies. DroneSeed is also in the business of providing carbon offset credits for agencies and businesses that use its services, which brings us to today’s news:

Shopify CEO Tobi Lütke is one of the investors in DroneSeed’s latest series A round, together with other big names in Big Tech, the likes of DBL Partners, an early investor in Tesla and SpaceX, as well as  Marc Benioff’s TIME Ventures. 

Other investors include Spero Ventures’ Marc Tarpenning, who is the co-founder of Tesla and a DroneSeed board observer; Gaingels with; HBS Lady Angels; Julia Lipton’s Awesome People Ventures; the Coalition angels including Ashley Mayer; Massive; and Rob Ness Syndicate.

We will be happy to hear your thoughts

Leave a reply

Enable registration in settings - general
Compare items
  • Total (0)