TERRAMERA RAISES US$45 MILLION TO REDUCE SYNTHETIC CHEMICALS IN AGRICULTURE BY 80%
VANCOUVER, BC - September 5, 2019 - Terramera®, an emerging cleantech leader with revolutionary technologies to transform how we grow food, announced today it has raised US$45 million in equity funding to advance its Actigate™ Targeted Performance technology. The close of this Series B round was led by new investor Ospraie Ag Science and previous investor Seed2Growth (“S2G”) Ventures. The funds raised will enable Terramera to scale its technology and transform agriculture while positively impacting the environment and the well-being of people worldwide. Additionally, the company announced the appointment of accomplished executive Jeff Booth as Board Chair and Ospraie Ag Science lead investor and Ag industry veteran Carl Casale to its Board of Directors.
“We are on the path to reduce global synthetic chemical loads in agriculture by 80% by 2030 with Actigate,” said Karn Manhas, Terramera Founder and CEO. “We are grateful for the support of Ospraie Ag Science and S2G Ventures, as they will be instrumental to fulfilling our mission of using technology to unlock the intelligence in nature, ensuring an earth that thrives and provides for everyone.”
Terramera’s Actigate technology significantly improves the performance of active ingredients used in crop protection products, dramatically reducing the amount required. Actigate improves performance of both natural and conventional active ingredients. The result is higher-performing organic biopesticides and less synthetic chemicals in farming. This lowers costs across the system, improves farm productivity and profitability, reduces waste and minimizes environmental impact.
“Terramera has the people, purpose and now the capital in place to transform the industry as a whole and truly impact the world,” said Carl Casale of Ospraie Ag Science. “Terramera’s Actigate platform shifts the paradigm, making biopesticides more effective and competitive. There is also a huge opportunity to create value and reinvent conventional inputs to have greater impact, while reducing cost, waste and effects on the environment.”
“Terramera’s technology fuses AI, science and nature to create game-changing solutions for agriculture and pest control that will better our lives and ensure the sustainable future of our planet,” added Manhas. “We can’t do it alone. We want to work with others who share our vision to accomplish our 2030 goals and accelerate the impact we can have on our earth.”
Terramera is a cleantech leader focused on fusing AI, science and nature to create revolutionary technologies that transform how we grow food and solve other world-scale challenges. With its Actigate™ Targeted Performance technology and mission to unlock the intelligence in nature to ensure a world that thrives and provides for everyone, Terramera is committed to reducing global synthetic chemical loads in agriculture by 80 percent while increasing global farm productivity by 20 percent by 2030. 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 a research lab, greenhouse and farm, and has more than 185 patents in its IP portfolio. For more information, please visit terramera.com
About Ospraie Ag Science:
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.
Director, Communications | Terramera