News Briefs

Terramera’s enrichSoil inks $6m seed round led by At One Ventures

Follow-on investments to complete the financing to a maximum of $15 million are available with planned close in early 2023.

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  • The funds raised will help rapidly advance the launch of enrichSoil, which delivers real-time soil analysis results with 99 percent accuracy, Terramera reported
  • An initial limited commercial launch is set in 2023 with further rollout and development planned throughout the year
  • Terramera is backed by ACA Investments, ArcTern Ventures, Ospraie Ag Science, Renewal Funds, S2G Ventures and other investors

EnrichSoil, a newly created platform for commercializing the soil analysis technology of Vancouver-based Terramera, has raised $6 million in seed financing.

At One Ventures, a San Francisco-based climate technology venture capital firm, led the round. Follow-on investments to complete the financing to a maximum of $15 million are available with planned close in early 2023.

The funds raised will help rapidly advance the launch of enrichSoil, which delivers real-time soil analysis results with 99 percent accuracy (compared to current methods which take many weeks for results with just 40 to 60 percent accuracy), according to Terramera. EnrichSoil can be used to optimize fertilizer use and to understand and improve soil health, the most essential component of the global food system.

EnrichAg has launched its alpha-product through a strategic partnership with a 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.

“Farmers don’t have the tools to understand fertility levels across their fields with precision. Lack of precision on rates means overapplication and expense on fertilizer. Building soils is not only one of the important business resources for farmers but also one of the greatest opportunities to turn back the clock on climate change. The key is timely, accurate and affordable analysis of soils,” said Terramera founder and CEO, Karn Manhas, in a statement. “Soil analysis and tracking hasn’t changed in decades. We have too little understanding of this critical resource. EnrichSoil changes that so we can enrich our Earth from the ground up.”

Terramera is backed by ACA Investments, ArcTern Ventures, Ospraie Ag Science, Renewal Funds, S2G Ventures and other investors.