By Gerelyn Terzo, Global AgInvesting Media
Phoenix, Arizona-based soil health company MyLand has raised $23 million in its latest fundraising, a Series-B Preferred round. Led by Proterra Investment Partners, the round supports MyLand’s sustainable mission with both new and existing growers amid a company expansion across the U.S. and international markets. The latest round comes on the heels of a $20 million Hardware as a Service loan facility from Canadian private debt firm PaceZero Capital Partners in recent months. Additional investors in the most recent round included Climate IC and the Borden Family Trust, multiple Climate IC LPs and FarmClub Investments. MyLand has secured $80 million in financing to date.
Proterra Investment Partners Managing Director Scott DeVos stated, “We are excited to make this investment in MyLand and to join the board of directors. We have been continually impressed by the positive and tangible feedback we have received from growers implementing the MyLand service, as well as by the team that MyLand is building. We believe the opportunity is significant for MyLand, and we look forward to helping the company achieve its growth and profitability goals.”
MyLand shared with GAI news that its solution is used on more than 30 different crops across five regions. The science begins with the extraction of live, native microalgae from a farm’s native soil, followed by a soil analysis in which the identities of the microalgae strains are detected to find the best ones for soil regeneration. The microalgae are then compared to find the ones most compatible with the MyLand system, which is installed and activated on the farm to reintroduce the microalgae back into the soil where they can multiple and create the foundation for healthy soil. MyLand’s sytem integrates with the operation’s existing irrigation system to deliver live, native algae on an ongoing basis.
Revitalizing soil helps water retention while bolstering a farm’s productivity, profitability and sustainability, resulting in healthier foods. However, for regenerative ag to gain scale, it must be financially viable for growers, as pointed out by PaceZero CEO and Founder Jordan Peckham, who believes that MyLand’s system is the solution. MyLand’s unique approach is tailored to each individual farm operation for a scalable, farmer-friendly service that results in improvements across key metrics including crop yields, product quality, water efficiency and soil vitality.
MyLand Co-Founder and CEO Dane Hague stated, “This funding, secured in a highly challenging market and at an incremental valuation, is a testament to the growing recognition that soil health is foundational to agricultural success. The proven results of our service—delivering strong economic returns to farming partners across geographies, soil types, and crops—demonstrate the critical role MyLand plays in modern agriculture.”
Founded in 2013, MyLand’s North American footprint currently spans California, Texas, Arizona, Washington, Oregon and Alberta, with plans to deepen its impact there while eyeing opportunities for growth in new markets.
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