Mombak
Overview
Mombak is a Brazilian startup focused on reforestation and carbon removal projects in the Amazon. Founded in 2021 by Gabriel Silva and Peter Fernandez, Mombak aims to restore degraded farmland and pasture by planting native trees, thus generating high-integrity carbon credits for the voluntary offset market. Headquartered in São Paulo, Brazil, Mombak has raised over $200 million since its founding. Notable investors include Union Square Ventures, Kaszek, Bain Capital, and AXA IM Alts. Recent funding rounds have been used to expand their carbon credit operations and scale reforestation efforts across the Amazon.
Recent Developments
- April 2025: Mombak raised $30 million in a Series A funding round led by Union Square Ventures, marking another significant step in scaling their reforestation and carbon credit initiatives. This funding aims to support operational scaling and meet increasing demand for carbon credits from major corporations.
- January 2025: Mombak announced a major $120 million investment to advance its reforestation efforts, securing an additional 20,000 hectares of land in Pará, Brazil for planting native seedlings.
- 2024 Developments: Throughout 2024, Mombak secured numerous contracts with tech giants such as Google and Microsoft, who have committed to purchase large quantities of Mombak's nature-based carbon removal credits.
- September 2024: Google agreed to buy 50,000 metric tons of carbon credits from Mombak, positioning it as a primary partner for carbon projects in South America.
- 2023 Partnerships: Mombak secured a partnership with Microsoft to deliver up to 1.5 million carbon credits as part of their carbon neutrality goals, and joined the Symbiosis Coalition involving other tech companies committed to contracting 20 million tons of credits by 2030.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2021 |
| Headquarters | São Paulo, Brazil |
| Founders | Gabriel Silva, Peter Fernandez |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Union Square Ventures, Kaszek, Bain Capital, AXA IM Alts |
| Industry | Carbon Removal and Reforestation |
| Number of Employees | Approx. 150 |
Early History
Mombak was established in 2021 by Gabriel Silva, former CFO of Nubank, and Peter Fernandez, former CEO of 99. The founders were motivated by the urgent need to address climate change through reforestation and the restoration of the Amazon rainforest. Early on, the company focused on acquiring and rehabilitating degraded farmland by planting native tree species. With initial support from venture capitals such as Union Square Ventures, Mombak quickly gained traction in the emerging market of carbon removal credits, positioning itself as a leader in Latin America's climate finance initiatives.
Company Profile and Achievements
Mombak operates a business model that combines large-scale reforestation with the monetization of carbon credits.
- Expansion Efforts: By early 2025, the company managed 45,000 acres of land, aiming to reach 8 million trees planted by mid-year. They have secured agreements for reforestation projects with local landowners to access degraded land.
- Carbon Credit Strategy: Mombak sells carbon credits to multinational corporations, allowing them to offset emissions. Their strategy involves restoring biodiversity and aiding ecosystem restoration, thus enhancing the integrity of their carbon credits.
- Key Milestones:
- First Series A funding round led by Union Square Ventures.
- Signing major offtake agreements worth $150 million, with projections for further growth.
- Expanding operations internationally to meet the demands of global corporations for carbon credits.
- Notable Partnerships: Collaboration with Google and Microsoft, which are committed to buying millions of tons of credits over the next decade.
Current Operations and Market Position
Mombak has positioned itself as a robust player in the carbon removal sector, focusing on converting degraded lands into functioning ecosystems that contribute to carbon sequestration. Their operations primarily cover extensive acres in the Amazon, leveraging strategic land acquisitions and partnerships to broaden their planting initiatives. By capitalizing on the surging demand for high-quality carbon credits from tech giants and other multinational enterprises, Mombak stands as a pivotal figure in Brazil's environmental finance landscape. They continue to focus on scaling their operations, aiming to be a leader in nature-based climate restoration.
Conclusion
Mombak has emerged as an influential force in the carbon removal and reforestation industries, leveraging its innovative business model to address both climate change and biodiversity loss. With strategic investments and partnerships with global technology firms, Mombak is set to further expand its operations in the Amazon and solidify its role as a leader in sustainable carbon management. Looking forward, Mombak's trajectory indicates potential for significant impact in the environmental sector, marrying economic innovation with ecological restoration.