India ranks second in the world after Brazil when it comes to deforestation, and the government also fell short of its target to increase forest cover in 2022. Before that the forest cover growth had slowed down to the lowest pace in eight years, and greenery engulfs less than a quarter of the country's land.
But a Bengaluru startup is on a mission to change that by buying land to protect the green cover and natural habitat, instead of building houses on it.
What's the vision behind it?
Founded by serial entrepreneur Nishanth Prasannan and naturalist Abhishek Jain, Bengaluru-based Mycelium is buying private land adjecent to protected forests simply for conservation.
The firm creates collectives which rope in individuals who are ready to fund the cause for the preservation of natural habitats.
The members of these collectives don't get to own the patch of land, but are offered equity in Mycelium in return for their contribution.
How will it fund further growth?
To sustain the business with a revenue model, the firm will start providing forest experiences, organising treks and setting up interpretation centres.
It will also grow organic produce on the land near the forest, and create a market for it.
Their aim for now is the conservation of 10,000 acres of land in the Western Ghats by 2035, and the local community will also be roped in to help.
