News Summary

Vancouver-based cleantech startup Veritree, a spinout from sustainable apparel brand Tentree, has announced a $9.1 million CAD Series A funding round. The company, which has surpassed 100 million trees pledged through its platform, plans to expand its AI monitoring capabilities and enhance audit and accessibility integrations. This funding round was led by Vancouver’s Pender Ventures, with additional investment from Montréal-based Diagram’s ClimateTech Fund and existing backers including Garage Capital and Northside Ventures. Veritree aims to help companies manage nature restoration projects effectively, with a goal to plant one billion trees by 2030. The startup focuses on various restoration efforts, including agroforestry, kelp seaforestation, and post-wildfire recovery across Canada, the US, and globally.