Manufacturer of technology for clean foods Terramera has raised $45 million in equity funding to advance development of its Actigate Targeted Performances Technology. The Canadian company aims to reduce the use of synthetic chemicals in agriculture by 80% while increasing global yields by 20% by 2030.
Terramera has closed its Series B funding round led by new investor Ospraie Ag Science (OAS) and previous investor Seed to Growth Ventures (S2G). OAS plans to identify solutions to help farmers and the company has previously supported manufacturers of biopesticides and organic crop management products such as Agrospheres and BeeFlow.
By moving forward Actigate technology Terramera has claimed that the performance of active ingredients like organic biopesticides will improve, meaning plant-based organic actives will outperform synthetic chemical pesticides and fertilizers. Less synthetic chemicals required in farming will result in lower costs, improved farm productivity and profitability while reducing waste and environmental impact.
Carl Casale, investor of Ospraie Ag Science and recently appointed to Terramera’s board of directors commented on the investment: “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.”
Karn Manhas, Terramera Founder and CEO said: “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 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.
“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.”
© FoodBev Media Ltd 2019