TORONTO - ArcTern, Canada's leading cleantech fund, is pleased to announce an investment in Vancouver-based Terramera as an extension of Terramera's Series B round, closing out the round at a total of US$48.5 million. Other investors in the round include Ospraie Ag Science and S2G Ventures. This is ArcTern's fourth investment from its Fund II, which has raised $200 million.
Terramera is developing revolutionary technologies to transform how food is grown and disrupt the economics of agriculture. With their Actigate™ targeted performance technology, Terramera is committed to reducing the global synthetic pesticide load by 80% by 2030.
ArcTern is focused on investing in breakthrough clean technology companies addressing climate change and sustainability. Its latest investment in Terramera was driven by the company's bioplatform approach – fusing science, nature and data collection. This innovative approach has the potential to positively impact farming practices that will not only lead to more efficient farm operations with respect to water, nutrient and pesticide use, but it can also lead to the adoption of regenerative agriculture 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."
"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, Terramera Founder and CEO. "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."Source : CISION