Terramera, a Vancouver, Canada-based agtech company, raised $6M in USD funding.
The round was led by At One Ventures. Follow-ons to complete the round to a maximum of $15M USD are available with planned close in early 2023.
Led by Founder & CEO Karn Manhas, Terramera provides solutions to the agricultural industry to reduce the use of synthetic pesticides, increase crop resiliency, predictability and quality, support regenerative agronomy and measure the carbon sequestered in soil.
The company intends to use the funds to advance the launch of enrichSoil, a solution that delivers real-time soil analysis results with 99% accuracy. EnrichSoil can be used to optimize fertilizer use and to understand and improve soil health, the most essential component of the global food system.
Once commercialized, this will be the first technology that enables farmers and agronomists to self-test nutrient levels including nitrogen (N), phosphorus (P), potassium (K) and carbon (C). Carbon, a key indicator of soil health, increases soil’s water-holding capacity through its sponge-like structure, fostering resilience during droughts and mitigating flooding following heavy rains. EnrichSoil’s software optimizes sampling and allows growers to trust variable rates of fertilizer across fields. Digital maps show results across fields and over time.
EnrichAg has launched its alpha-product through a strategic partnership with one of the world’s largest regenerative agricultural networks. It is in the process of calibration and iteration of the beta product. An initial limited commercial launch is set in 2023 with further rollout and development planned throughout the year.
FinSMEs
12/01/2023