Oakland, California-based agtech startup, TerViva, that has been operating out of St. Louis since receiving $100,000 from the Yield Lab accelerator as part of its inaugural class of start-ups earlier this year, announced it has raised $2 million from investors.

 

TerViva is in the process of commercializing a perennial, legumeous tree called Pongamia that can thrive on marginal, unproductive agricultural land, mainly on fallow citrus land in Florida and fallow sugarcane land in Hawaii to be used for oil and protein production.

 

The funds from the round led by major Florida agricultural land owner, Evans Properties, will be used by the firm to advance the company’s animal feed development, to fund the harvesting of trees, and to support the scaling of its tree production.

 

TerViva posted revenue of $309,000 in 2014, and expects to report double this amount for 2015.