By Lynda Kiernan
Canadian cleantech fund ArcTern Ventures has invested $3.85 million in Vancouver-based Terramera, lifting the company’s Series B to $48.5 million. This commitment was made through ArcTern’s Fund II, and adds ArcTern to existing investors Ospraie Ag Science and S2G Ventures.
This investment builds on Terramera’s $45 million Series B led by Ospraie Ag Science originally announced in September 2019.
Privately held, and founded in 2010 in Vancouver, British Columbia, Terramera is focused on joining AI, science, and nature to develop revolutionary technologies that transform how we grow food and answer global challenges, with the goal of reducing synthetic chemical usage in global agricultural production by 80 percent, and increasing productivity by 20 percent by 2030.
With integrated operations that include a research lab, a greenhouse and farm, and an IP portfolio consisting of 185 patents, Terramera’s cornerstone is its Actigate™ Targeted Performance technology – a platform that significantly improves the performance of both natural and conventional active ingredients used in crop protection products. The result is higher rates of effectiveness for organic pesticides and less synthetic chemicals in farming systems.
“We’re happy to welcome ArcTern to the Terramera investor family as they have a mission and vision that closely aligns with our own long-term view of solving some of the world’s most pressing problems through improved agriculture practices,” said Karn Manhas, founder and CEO, Terramera. “Agriculture is ground zero for climate action. I believe we are eating our planet to death, but we have the potential to eat our planet back to life.”
ArcTern’s investment focus is set on opportunities to back breakthrough clean technology companies addressing climate change and sustainability.
This investment was the fourth made through ArcTern’s $200 million Fund II, and also aligns with the fund’s bioplatform approach that integrates science, nature, and data collection, according to the investor.
This approach has the potential to have a positive impact on farming operations through greater efficiency in water, nutrient, and pesticide use, and greater adoption of regenerative farming practices.
“Terramera has the technology platform and expertise to transform commercial agriculture in systematic ways,” said Tom Rand, managing partner of ArcTern.
“Their strategy to scale their technology to have the greatest impact will lead to healthier plants and soil, which will drive improved farm productivity, and the potential to sequester carbon in well-managed soils. That’s really exciting, and why we invested.”
– Lynda Kiernan is Editor with GAI Media and daily contributor to the GAI News and Agtech Intel platforms. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at lkiernan@globalaginvesting.