# Open Forest

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/open-forest

- Industry: Internet
- Headquarters: Zug, Switzerland
- Website: www.openforestprotocol.org
- Latest round: Seed (Sep 10, 2024)
- Investors on record: 6

## About

Founded in 2021 and based in Zug, Switzerland, Open Forest GmbH operates as a provider of a digital transparency platform that allows for the measurement, reporting, and verification (MRV) of forestation activities. Frederic Fournier (CEO) and Michael Kelly (CPO) are the co-founders of the company. In September 2024, Open Forest GmbH raised an undisclosed amount of seed funding led by Übermorgen Ventures, with participation from NEAR Foundation, GS Futures, BackBone Ventures, Fondation Valery, Bloom Foundation, and other unspecified investors. The company offers an open platform that enables forest projects of any size and location around the world to measure, report, and verify (MRV) their forestation data. Land plots with forestation projects are registered on the Open Forest Protocol and made public on the OFP Explorer; forest monitoring data is collected on the ground using the OFP Forester mobile app; validators validate uploads using ground data analysis, remote sensing technologies, and forest expertise; all monitoring information is permanently stored on an open distributed ledger; and project operators gain access to carbon financing. Forest project registration, measurement, reporting, and verification (MRV) technology, and blockchain-based technology are all used by OFP. The September 2024 funding will allow Open Forest GmbH to advance more projects, ensure its long-term development, and collaborate with national governments around the world.

## Funding rounds

- Seed, Sep 10, 2024 — BackBone Ventures, GS Futures, Ubermorgen Ventures, NEAR Foundation, Fondation Valery, Bloom Foundation

## Investors

- BackBone Ventures (https://capitalatlas.ai/funds/backbone-ventures) — Seed
- GS Futures (https://capitalatlas.ai/funds/gs-futures) — Seed
- Ubermorgen Ventures (https://capitalatlas.ai/funds/ubermorgen-ventures) — Seed
- NEAR Foundation — Seed
- Fondation Valery — Seed
- Bloom Foundation — Seed