By Gerelyn Terzo, Global AgInvesting Media
Technology innovation is increasingly making its way into the crop science arena. Matterworks, a pioneer in the field of predictive biology, has secured a Series A financing round, poised to further unlock machine learning and in predictive biology. While Matterworks is keeping the size of the round close to the vest, the funding is expected to be instrumental in helping the Boston, Massachusetts-based company expand on its vision to make mass spectrometry the go-to data modality for the life science arena.
Led by St. Louis, Missouri-based Lewis & Clark Partners and VC firm OMX Ventures, the funding round also extended to Pillar VC, Germin8, Intermountain and Tarsadia. As GAI News recently reported, Lewis & Clark AgriFood, which specializes in growth-stage financing within the food and ag sectors, is back in the market. The firm is actively raising capital for its latest vehicle, AgriFood Fund III. This move, recently detailed in an SEC filing, signals that investor appetite for innovation in agriculture and food technology is growing – a testament to the exciting opportunities burgeoning in this space.
Founded in 2019, Matterworks has developed a Large Spectral Model (LSM) that enables scientific insights that are otherwise unattainable with traditional scientific methods and machine learning tools. Within the ag sector, its technology is used to improve the precision and efficiency of processes in crop science and animal health. This includes advancing the safety and sustainability of crops and agricultural inputs, as well as supporting the development of essential animal health products.
Digitalization, propelled by breakthroughs in application technology and data science, is revolutionizing agriculture. At the heart of this transformation lies AI, a critical technology driving the industry’s ability to combat climate change and bolster global food security. Agriculture is leveraging AI – including machine learning, computer vision and advanced data analytics – to enhance nearly every facet of farming.
From precision cultivation and vigilant crop monitoring to accurate pest detection, yield forecasting, and automated harvesting, AI optimizes resource usage like water and fertilizers. Ultimately, AI empowers farmers with data-driven insights, leading to increased productivity, lower costs and more sustainable practices, according to industry leaders like Bayer.
Of the Series A round, Matterworks CEO and Co-Founder Jack Geremia stated, “I am delighted to partner with Lewis & Clark and welcome Carolyn Fritz to the Company’s Board of Directors as we accelerate machine intelligence innovations that tackle the unsustainable cost of life science R&D.”
Lewis & Clark Partners Operating Partner Carolyn Fritz commented, “In collaboration with its customers, Matterworks has repeatedly demonstrated its AI platform provides a step change reduction in the cost and throughput of mass spec quantitation. We are excited to partner with this team in accelerating commercialization of their transformational technology.”
OMX Ventures Managing Director Craig Asher said, “Matterworks is leveraging AI to unlock a new data layer for biology by making mass spectrometry accessible to all biologists. It’s a shift as transformative as single-cell sequencing and we are thrilled to support this exceptional team.”
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