Gaia AI, a Somerville, Massachusetts-based startup that uses LiDAR, computer vision, and satellite data to collect high-quality biomass data in forests, closed a $3 million round of pre-seed investment.
The round was led by E14, with participation from Ubiquity Ventures, Space Capital, and SOSV’s HAX. Gaia AI plans to deploy its backpack for pilot programs in Q1 of 2023.
“In autonomous vehicles, cars don’t drive themselves off of just LiDAR, or radar, or computer vision. It’s by combining them that you can use the right sensor for the right task,” says Peter McHale, co-founder, and CEO at Gaia AI. “Forestry is no different, and by working with measurements from satellite imagery, above-canopy drones, below-canopy LiDAR, and computer vision and forester input, we can use the right measurement to solve the right problem.”
The company was spun out of MIT and is working to give foresters the tools they need to make data-driven decisions to optimize their bottom line.
The company’s data can be used by timber operations, and Gaia AI claims that its technology makes it 100x faster to gather and act on the rich data the company is collecting, processing, and reporting on.
Company: Gaia AI
Funding Month: December 2022
Lead Investors: E14
Additional Investors: Ubiquity Ventures, Space Capital, and SOSV’s HAX
Company Website: https://www.gaia-ai.eco/
Software Category: Forest Management
About the Company: Founded in 2020 by Peter McHale and Matthew Carpenter, Gaia AI is an MIT & Harvard startup using LiDAR, computer vision, and satellite data to collect high-quality biomass data in forests, helping land owners, project developers, and investors understand the carbon stock and timber content of their land. By measuring the carbon content of a forest with high accuracy, they give carbon credit buyers confidence that their credit was backed by a ton of carbon sequestered, and thus create trust in and help unlock the carbon credit market. Gaia AI applies perception AI similar to that used in autonomous vehicles to accurately and automatically process LiDAR, camera, and satellite data on forests. By combining advanced sensor technologies with perception AI, the company offers improved measurement accuracy at a low cost than current manual solutions.