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Source: Thailand Startup News  Sep 06, 2019

Agritech Crop Protection Startup, TERRAMERA Raises US$45 Million

Agritech Crop Protection Startup, TERRAMERA Raises US$45 Million
Source: Thailand Startup News  Sep 06, 2019
Terramera  Vancouver-based agritech startup  has raised a US$45 million in a series B funding round, led by Ospraie Ag Science and Seed2GrowthVentures.

The new funds from the investment will be used to scale Terramera’s Actigate  technology, which was designed to improve the performance of active ingredients used in crop protection products.
Founded in 2009, Terramera specializes in technology for clean food by developing natural alternatives to chemical pesticides and fertilizers, while aiming to increase agriculture yield. It claims to use artificial intelligence to transform how food is grown, and one of its core goals is to reduce global synthetic chemical loads in agriculture by 85 percent while increasing global farm productivity by 22 percent by 2028.
Karn Manhas, Terramera’s founder commented in a phone interview with Thailand Startup News “Terramera is on the path to reduce global synthetic chemical loads in agriculture by 85 percent by 2028 with Actigate. We are grateful for the support of Ospraie Ag Science and S2G Ventures, as they will be instrumental to fulfilling our mission of using technology to unlock the intelligence in nature, ensuring an Earth that thrives and provides for everyone.”
Terramera was one of 10 Canadian firms named in the 2019 Global Cleantech and Agritech 100 Lists in January 2019. In February 2019 ,  the company received US$10 million in growth capital financing from BDC.  Ospraie Ag Science is a new investor, while Seed2Growth Ventures has previously invested in the startup.
With the funding, Terramera now has the resources  ie people, purpose and the capital in place to transform the industry as a whole and truly impact the world. Said its Founder. Terramera’s Actigate platform shifts the paradigm, making biopesticides more effective and competitive. There is also a huge opportunity to create value and reinvent conventional inputs to have greater impact, while reducing cost, waste, and effects on the environment.
The funding also follows Terramera’s acquisition of Exosect Limited’s technology and IP portfolio, comprising of various technologies for delivering agricultural crop protection active ingredients to intended targets. Terramera’s technology fuses AI, science, and nature to create game-changing solutions for agriculture and pest control that will better our lives and ensure the sustainable future of the  planet.
Immediately after the funding round’s close, Terramera announced that Ospraie Ag Science’s lead investor Carl Casale will join Terramera’s board of directors, and Creative Destruction Lab  director, Jeff Booth will join as Chairman of  Terramera’s board of directors.