One month after being named one of Canada’s most investable cleantech ventures, Terramera has raised a USD $6 million seed round led by At One Ventures (AOV).
AOV is a climate tech VC firm that invests in companies with disruptive technologies that can make a significant impact on planetary health.
In addition to announcing the fundraising, Terramera announced the formation of its new majority-owned subsidiary, enrichAg, which will focus on commercializing its soil enrichment platform.
The funding will rapidly advance the launch of enrichSoil, a breakthrough solution that delivers real-time soil analysis results with 99% accuracy (compared to current methods which take many weeks for results with just 40 to 60% accuracy).
EnrichSoil can be used to optimize fertilizer use and to understand and improve soil health, the most essential component of the global food system.
“Farmers don’t have the tools to understand fertility levels across their fields with precision. Lack of precision on rates means over application 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 & CEO, Karn Manhas.
“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.”
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