Vancouver’s Terramera has won a US $1 million prize in the growth-stage category in the Nutrien-Radicle Challenge.
The Nutrien-Radicle Challenge Canada was created to encourage and accelerate ag and food technology innovation in Canada.
More than 100 of Canada’s most ambitious agriculture and food technology innovators applied, with eight finalists pitching to a panel of judges.
Growth-stage entrants were required to have previously raised at least US $3 million in investment capital. Last month Terramera raised a US $45 million Series B round led by new investor Ospraie Ag Science.
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.
Terramera develops high-performance natural alternatives to synthetic chemical pesticides and fertilizers and has pioneered a method to target active ingredients to cellular delivery.
“They put a lot of time into understanding what we’re doing as a company,” said Karn Manhas, founder and CEO of Terramera.
“We had broad range of industry leaders serving as judges – all learning about your technology, learning about how to apply it and also giving some great feedback. We’re looking at this not just as a source of dollars but of partnerships and advice and a platform to be able to build the company from where it is to the next level is really.”