- Dendra, a UK biodiversity startup, has raised $15.7 million in fresh funding.
- The round was led by Zouk Capital, an investment firm backing climate tech companies.
- The startup has developed an AI-enabled platform to help restore natural ecosystems.
British biodiversity startup Dendra Systems announced Wednesday it has raised a $15.76 million Series B, as investors continue to pour capital into climate tech.
The $15.76 million Series B round was led by Zouk Capital, a London-based private equity firm that has previously backed climate-tech companies such as Green Hedge and Orb Energy. Additional funding came from new investor Aramco Ventures and existing investors Airbus Ventures and Understorey Capital.
Dendra Systems was founded in 2014 and uses AI and drones to help restore natural ecosystems.
Its main product is RestorationOS, which scans and analyses land to develop restoration plans for governments, infrastructure developers, and those operating sites that are former mines.
This accounts for the bulk of the startup's revenue and is used by the likes of Rio Tinto and Glencore. The startup also provides and operates drones that plant seeds, targeting remote areas in challenging environments.
Its AI-powered ecosystem insights platform can process large amounts of data, which can be especially useful when identifying and mapping the species on each square meter of land targeted for conservation to allow for more accurate plant management and stewardship, UK Tech News reported.
"Our technology is particularly effective in mining infrastructure, mangroves, and arid ecosystem restoration," said CEO Susan Graham, announcing the Series B.
"We help teams working on large-scale restorations do it more effectively and help them in planning, monitoring, and documenting the restoration," she continued.
The Series-B investment will fund the startup's expansion into new geographical markets and the development of its AI-enabled ecology platform, Graham said.
Dendra Systems previously raised $10 million Series A in 2020 from At One Ventures, Airbus Ventures, Future Positive Capital, Chris Sacca's Lowercarbon Capital, and others. The cash went toward expanding its global presence, focusing on North America.
Climate tech proved to be more resilient than other sectors in a cool market in 2023, with European climate tech startups bucking the trend in declining investment and raising a collective $20 billion. Biodiversity is a crucial part of fighting climate change.
The landmark Global Biodiversity Framework, adopted last year, called for investors to put $200 billion a year toward "innovative financial solutions to address biodiversity risks" by 2030.
Dendra Systems is among the first batch of European climate startups to get VC backing. Others such as NatureMetrics, Natural Capital Research, and Pivotal have each secured funds for biodiversity data plays.