CANADA – Terramera, a Canadian company developing bio-pesticides and seed treatments, has raised US$45 million in equity funding to accelerate its efforts of reducing use of synthetic chemicals in agriculture.
The funding will be used to advance development of its Actigate Targeted Performances Technology to enhance the effectiveness of natural and organic crop protection.
Terramera, which counts Ingka GreenTech as an investor, uses natural compounds that increase the porousness of a plant cell as well as guiding the active ingredient to the right target.
This increases the efficiency of the product, reducing the amount needed to protect crops from disease and pests. The technology aims to reduce the use of synthetic chemicals in agriculture by 80% while increasing global yields by 20% by 2030.
Terramera claims that the Actigate technology significantly improves the performance of active ingredients used in crop protection products, dramatically reducing the amount required by improving the 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.
The funding round marked the close the company’s Series B round led by new investor Ospraie Ag Science (AOS) and previous investor Seed2Growth (“S2G”) Ventures.
Terramera has also 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.
“Terramera’s Actigate platform shifts the paradigm, making biopesticides more effective and competitive,” said Carl Casale, investor of Ospraie Ag Science who was also recently appointed to Terramera’s board of directors.
“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.”
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.
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