Sask. agtech startup closes $4-million seed round to put grain quality info into farmers' hands

Nov 29, 2022

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."

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Video: Why Invest in Canada’s Seed Future? | On The Brink: Episode 3

Darcy Unger just invested millions to build a brand-new seed plant on his farm in Stonewall, Manitoba so when it’s time for his sons to take over, they have the tools they need to succeed.

Right now, 95% of the genetics they’ll be growing come from Canadian plant breeders.

That number matters.

When fusarium hit Western Canada in the late 90s, it was Canadian breeders who responded, because they understood Canadian conditions. That ability to react quickly to what’s happening on Canadian farms is exactly what’s at risk when breeding programs lose funding.

For farmers like Darcy, who have made generational investments based on the assumption that better genetics will keep coming, the stakes are direct and personal.

We’re on the brink of decisions that will shape our agricultural future for not only our generation, but also the ones to come.

What direction will we choose?

On The Brink is a year-long video series traveling across Canada to meet the researchers, breeders, farmers, seed companies, and policymakers shaping the future of Canadian plant breeding. Each week, a new story. Each story, a piece of the bigger picture.

Episode 3 is above. Follow Seed World Canada to catch every episode, and tell us: Do you think the next generation will have the tools they need to success when they takeover? How is the future going to look?