French nature-based solutions platform hummingbirds has raised €50 million in a Series A financing round to accelerate the development of conservation and ecosystem restoration carbon projects worldwide.

The funding, equivalent to approximately $59 million, is intended to scale early-stage, high-integrity nature-based carbon initiatives focused on emissions removal, biodiversity protection and sustainable land management.

Targeting Early-Stage Project Development

Founded in 2022 by travel company Voyage Privé, hummingbirds positions itself at the front end of the carbon project pipeline. The company provides financing and technical support to project developers, particularly during feasibility and pilot phases where capital constraints are most acute.

By focusing on early-stage development, the platform aims to increase the supply of credible carbon projects capable of generating verified carbon credits while delivering measurable ecological and social co-benefits.

To date, hummingbirds reports that it has supported more than 20 projects globally. According to the company, these initiatives are expected to contribute over 45 million tonnes of CO2e in sequestration or emissions reduction, support sustainable management of more than 700,000 hectares of land and enhance livelihoods for over 400,000 people. The projects also aim to protect habitats for more than 180 species listed as threatened by the IUCN.

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Blended Development Finance Backing

The financing round was led by development finance institutions. Swedfund, Proparco and British International Investment each committed €15 million. An additional €5 million in seed capital was provided by hummingbirds.

The participation of public development investors reflects growing institutional interest in scaling nature-based climate solutions, particularly those that combine carbon mitigation with biodiversity and community impact objectives.

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Expanding the Nature-Based Carbon Market

Nature-based carbon projects, including reforestation, afforestation and regenerative land management, remain a central pillar of voluntary carbon markets. However, the sector continues to face scrutiny over project integrity, permanence and measurement methodologies.

By embedding technical oversight and early-stage due diligence into project development, hummingbirds aims to address quality concerns while expanding supply. The model seeks to align climate mitigation, biodiversity conservation and socio-economic development within a single financing framework.

As demand for high-integrity carbon credits increases from corporates pursuing net-zero strategies, platforms focused on structured project development may play a growing role in strengthening credibility and scaling climate finance in the land-use sector.

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