Geelong businessman Robert Costa backs carbon disrupter Sensand with $6m funding boost

High-profile Geelong businessman Robert Costa has opened his considerable wallet in an effort to fast-track digital farming with a bold multimillion-dollar play.

Carbon disrupter Sensand has received a $6m cash boost from Geelong businessman Robert Costa to help power a breakthrough in smart farming. Photo: Suplied.

High-profile businessman Robert Costa has opened his considerable wallet in an effort to fast-track digital farming, providing a $6 million cash injection to carbon disrupter Sensand.

Mr Costa, the chairman of GoFARM and Costa Management Group, confirmed the multimillion-dollar investment this week, his second in the tech company in the last 18 months.

Sensand co-founder and CEO, Peter Moulton, called the prominent Geelong figure “one of the country’s leading environmental investors”, saying the funds would be used to advance a world-leading platform “that brings together agricultural land management, carbon project operations, and environmental markets.”

Robert Costa (right) has made two significant investments in Sensand in the past 18 months. He is also the chairman of development company Monno.

The investment will facilitate the beta launch of the company’s Blockbase and Mintly technology platforms.

“Blockbase will enable farmers and landowners to measure and validate carbon sequestration and the impacts of their farming and forestry practices on natural capital,” he said.

“Mintly will enable market participants to leverage this verification data to bring high-quality credits to global carbon markets.”

Mr Costa called carbon credits “a fact of life”, saying he was committed to working with others to enhance them.

“They are here to stay, and I believe Sensand can disrupt and then transform the market to bring much needed integrity.”

He said his management group was backing the Melbourne-based digital farming pioneer due to “trust in their key people.”

“And my respect for their knowledge, endeavour, and appraisal of what’s necessary in this area, given my background in horticulture and agriculture,” he stated.

“It is heartening to partner with people who have both the competency and understanding of the industry as well as high integrity.”

Mr Costa has helped GoFARM flourish in his role as chairman, with the company seen as a leading agricultural investor, developer and manager.

The company has holdings in more than 70,000 hectares of prime agricultural land and water entitlements, with a total asset value of $1080m.

Originally published as Geelong businessman Robert Costa backs carbon disrupter Sensand with $6m funding boost