Ground Truth Agriculture Inc. (Ground Truth Ag) announced the close of its seed funding round with $4-million to develop technology that will provide farmers with lab-quality grain analysis right off their combine, in real-time and with location precision.
"During harvest on my family's farm, I would think about the effort that went into optimizing that year's yield," Ground Truth Ag Chief Executive Officer Kyle Folk said. "And then we would send a grain sample to a lab with a volume equivalent to what comes off a four foot square piece of land to judge the quality of a harvested area of at least 75 football fields. Where is the precision in that?"
The funding round was led by Conexus Venture Capital Inc. and includes $2-million from its agtech focused Emmertech fund. Additional investors include: SaskWorks Venture Fund Inc., Tall Grass Ventures, Golden Opportunities Fund Inc., WTC Investments LP, private investors and new commitments from existing shareholders.
"Finding an experienced team led by a repeat founder in the agtech space is extremely rare here in Canada. We are excited to be working with Kyle given his experience in scaling and exiting an agtech company," Conexus Venture Capital Inc. and Emmertech Managing Director Sean O'Connor said. "We believe that Ground Truth Ag is the missing piece in helping give meaningful clarity to the farmer on the outcomes of their precision agriculture practices."
Click here to see more...