US-based software company Regrow recently secured funding to roll out its monitoring, reporting and verification (MRV) tool for carbon sequestration and monetisation.

Global commodities giant Cargill became the latest to invest in the company in an oversubscribed $17m Series A funding round, joining Microsoft and a number of other global companies.

Regrow will use the funds to accelerate the global rollout of its MRV tool, which it claims is the first system to allow all stakeholders across the emerging agricultural carbon credit industry to create and use carbon strategies.

The programme will be available for buyers, sellers, producers and verifiers of carbon credits.

The company says this will allow transparent reporting, historical analysis and forward-looking projections of carbon sequestration and emission reductions.

Regrow’s founder and CEO Anastasia Volkova says this is the first independent, objective turnkey system for the industry.

Regrow was formed in February this year after the merger of Australian crop science company FluroSat and US soil health start-up Dagan. It currently employs 50 staff, predominantly scientists, agronomists, and engineers. There has been no indication yet when the programme will be available in Ireland.