Vancouver-based agricultural tech company Terramera has closed its Series B financing at US$48.5 million. ArcTern Ventures, Ospraie Ag Science and S2G Ventures invested.
TORONTO, Jan. 28, 2020 /CNW/ – ArcTern, Canada’s leading cleantech fund, is pleased to announce an investment in Vancouver-based Terramera as an extension of Terramera’s Series B round, closing out the round at a total of US$48.5 million. Other investors in the round include Ospraie Ag Science and S2G Ventures. This is ArcTern’s fourth investment from its Fund II, which has raised $200 million.
Terramera is developing revolutionary technologies to transform how food is grown and disrupt the economics of agriculture. With their Actigate™ targeted performance technology, Terramera is committed to reducing the global synthetic pesticide load by 80% by 2030.
ArcTern is focused on investing in breakthrough clean technology companies addressing climate change and sustainability. Its latest investment in Terramera was driven by the company’s bioplatform approach – fusing science, nature and data collection. This innovative approach has the potential to positively impact farming practices that will not only lead to more efficient farm operations with respect to water, nutrient and pesticide use, but it can also lead to the adoption of regenerative agriculture practices.
“Terramera has the technology platform and expertise to transform commercial agriculture in systematic ways”, said Tom Rand, Managing Partner of ArcTern. “Their strategy to scale their technology to have the greatest impact will lead to healthier plants and soil, which will drive improved farm productivity, and the potential to sequester carbon in well-managed soils. That’s really exciting, and why we invested.”
“We’re happy to welcome ArcTern to the Terramera investor family as they have a mission and vision that closely aligns with our own long-term view of solving some of the world’s most pressing problems through improved agriculture practices,” said Karn Manhas, Terramera Founder and CEO. “Agriculture is ground zero for climate action. I believe we are eating our planet to death, but we have the potential to eat our planet back to life.”
About ArcTern Ventures:
ArcTern Ventures is a Toronto-based venture capital firm investing globally in breakthrough clean technology growth companies addressing climate change and sustainability. ArcTern was founded by Murray McCaig and Tom Rand around the belief that the accelerating transition to a greener economy will disrupt all industries and present a multi-trillion dollar opportunity for both outsized financial returns and positive environmental impact. For more information, please visit www.arcternventures.com.
Terramera is a Vancouver-based agtech leader fusing science, nature and artificial intelligence to transform how food is grown and the economics of agriculture in the next decade. With its revolutionary Actigate™ technology, Terramera is committed to reducing the global synthetic pesticide load by 80% by 2030 to protect plant and human health and ensure an earth that thrives and provides for everyone. The privately held company was founded in 2010 and has grown to include a world-class bench of engineers, scientists, advisors and investors. Terramera is headquartered in Vancouver, British Columbia, Canada, has integrated operations that include research labs, greenhouse and farm, and has more than 195 patents in its IP portfolio. For more information, please visit terramera.com
About Ospraie Ag Science LLC:
Ospraie Ag Science LLC (OAS) identifies solutions to help farmers “Do More With Less”. By increasing profitability, improving quality-adjusted yield, and reducing environmental impact, our companies not only benefit producers, but generate smarter, healthier, and more efficient food for consumers globally. Utilizing our extensive network and 25 years of experience investing in agriculture, OAS is positioned to help farmers achieve a sustainable future.
About S2G Ventures:
S2G Ventures (Seed to Growth) is a multi-stage venture fund investing in food and agriculture. The fund’s mission is to catalyze innovation to meet consumer demands for healthy and sustainable food. S2G has identified sectors across the food system that are ripe for change, and is building a multi-stage portfolio including seed, venture and growth stage investments. Core areas of interest for S2G are agriculture, ingredients, infrastructure and logistics, IT and hardware, food safety and technology, retail and restaurants, and consumer brands. For more information about S2G, visit s2gventures.com or connect with us on Twitter and LinkedIn.