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Sask. agtech startup closes $4-million seed round to put grain quality info in farmers' hands
November 29, 2022 – Regina, SK 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.”
Since beginning operations in January of this year, Ground Truth Ag’s team has grown to include 15 employees working out of their Regina, Saskatchewan-based headquarters, creating new jobs in computer vision, mechanical and electrical engineering, software development and analytical chemistry.
In less than nine months, Ground Truth Ag’s team had a current prototype operating for this year’s harvest on Folk’s family farm. The Holdfast, Saskatchewan operation has become a proving ground for agtech innovations.
“My dad was an amazing supporter when I built my first agtech firm over a decade ago and was the first farmer to install its monitors on his grain bins,” Folk said. “With this being his last harvest before retiring, it meant so much to me to see our prototype on his combines for my family’s final harvest.”
For more information on Ground Truth Ag, visit www.groundtruth.ag
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January 9, 2024 – GeneNeer Ltd. is pleased to announce it has successfully closed a US$1 million seed round to support the acceleration of its technology for rapid crop seed innovation. The company’s breakthrough method leverages its proprietary Superlines and tissue-specific silencing capabilities to improve the current precision, speed and safety of advanced breeding technologies. In a league of its own, GeneNeer is positioned to democratize crop seed innovation, fostering more rapid, localized solutions to impacts of climate change, and to accelerate the development of healthier, more functional natural food sources. The funding round was led by Tall Grass Ventures, an early-stage Agrifood Tech venture firm based in Canada, and 2b AHEAD Ventures, a repeat investor from Germany. The funds will be used to expand the company’s research and development into its methods for enhancing gene editing and gene discovery. While the company’s first focus is on the potato market, further development in other key crops is being actively pursued through strategic partnerships. Chris Edwards, Managing Partner at Tall Grass Ventures, said “We believe GeneNeer is at the forefront of gene-editing in crop development through their novel and proprietary Superline technology. With this technology, they have developed a multi-faceted platform, which we believe mitigates many of the business risks inherent in biotechnology and deep science-based startups. This approach not only enhances stability, but also aligns with the nimbleness and adaptability required to lead an emerging field. “GeneNeer’s commitment to success is further reinforced by the exceptional quality of their team. With a deep mix of technical competency, skill and business acumen, the team is well positioned to successfully execute against their vision and have a significant role in increasing the resilience and adaptability of global agriculture,” added Edwards. The investment is the climax of a successful year, marked by multiple successful proof of concept trials, a paid collaboration with a Tier-1 company; participation in the prestigious StartLife program for promising agritech start-ups; the registration of a second patent application; and significant strides in its research and development activities. As a result, the company doubled its valuation in 2023. Kinneret Shefer PhD, CEO and Co-founder of GeneNeer said, “The addition of Tall Grass Ventures and return investment of 2b AHEAD Ventures provide GeneNeer with outstanding support from seasoned, savvy and visionary investors and mentors. Their involvement will be instrumental in GeneNeer’s ability to achieve its ambitious business plans.” Sven Gabor Janszky, CEO of 2b AHEAD Ventures and Chairman of Europe’s largest Future Science Institute 2b AHEAD said, “We are proud to continuously support GeneNeer’s progress to solve one of the world’s biggest challenges: to provide food security for up to 11 billion people on Earth in times of global warming. Even for us, with a portfolio of 30+ deeptech investments worldwide – from Nuclear Fusion to Quantum Computing – GeneNeer is outstanding in its product vision and the excellence of its technological platform.” About GeneNeer: GeneNeer is engaged in the enhancement of crops through the development of innovative methods for expedited precisely-controlled gene editing and rapid gene discovery, using its patent-protected Superlines and tissue-specific silencing. The company aims to use its capabilities to support global food security and nutrition. GeneNeer is a member of the prestigious StartLife program for promising startups. www.geneneer.com
May 29, 2023 - Fredricton, NB - In a critical move towards advancing precision agriculture, AgTech startup Picketa Systems has successfully closed a CAD 1.445M Seed investment round. The funding will broaden the development and deployment of their real-time plant tissue analysis technology, called LENSTM. This revolutionary solution allows farmers and agronomists to diagnose real-time, geo-located, nutrient concentrations. This key information aids growers to minimize fertilizer applications while optimizing crop production. Picketa Systems has collaboratively built its solution with farmers in New Brunswick and Prince Edward Island since its inception in 2021. The new LENSTM, Leaf Evaluated-Nutrient System, is being used in-field by 10 leading agronomists across Canada and the United Kingdom in 2023. This will facilitate the delivery of real-time plant tissue sampling, enabling farmers to swiftly and accurately identify nutrient deficiencies, thus optimizing yield and crop quality. The company, whose roots lie in the potato farming sector of Northwest New Brunswick, will broaden its scope with the fresh capital injection. CEO Xavier Hébert-Couturier expressed optimism about the expansion: "To date, we’ve had success and a solid footing in potatoes, but it is clear through our countless discussions with producers that the applicability of this technology extends beyond potatoes to multiple crops and use cases. We're already expanding trials to include crops like corn, onions, carrots, and blueberries this year with more coming in the future. In the process, we’re assembling the best team of technologists, researchers and agronomists to help us bring this to farmers everywhere.” This funding will catalyze the growth of Picketa’s technology and is validated by the participation of top Canadian agtech investors. The depth of experience and connectivity from investors across hardware, software development, and agriculture is notable and stands to be a growth multiplier for the company. The round was led by the New Brunswick Innovation Fund, with Tall Grass Ventures, Desjardins, Koan Capital, Emmertech, and multiple angels from East Valley Ventures and StartupTNT. “We were impressed with the real-time capability of Picketa’s technology and believe in its ability to change how plant tissue analysis is used in modern agriculture,” said Chris Edwards, Managing Partner at Tall Grass Ventures. “The team is energetic, tenacious and driven, and we are looking forward to working alongside them.” Picketa Systems intends to serve a critical role in helping Canada and other nations achieve their food production and climate goals. Their platform helps clients reduce nitrous oxide and other emissions by enabling precision fertilizer application and enhancing soil health. By encouraging 4R, (Right source, Right rate, Right time, Right place), LENSTM mitigates harmful nutrient runoff and contributes to sustainability efforts such as water source protection and food security. Picketa Systems' ultimate objective is to equip the agricultural industry with in-depth crop nutrient information, facilitating the shift towards regenerative agriculture. The Picketa Systems team will share updates on their progress and agronomic learnings in their monthly newsletter: Picketa Field Notes. To learn more, visit: https://www.picketa.com/contact
November 29, 2022 – Regina, SK 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.” Since beginning operations in January of this year, Ground Truth Ag’s team has grown to include 15 employees working out of their Regina, Saskatchewan-based headquarters, creating new jobs in computer vision, mechanical and electrical engineering, software development and analytical chemistry. In less than nine months, Ground Truth Ag’s team had a current prototype operating for this year’s harvest on Folk’s family farm. The Holdfast, Saskatchewan operation has become a proving ground for agtech innovations. “My dad was an amazing supporter when I built my first agtech firm over a decade ago and was the first farmer to install its monitors on his grain bins,” Folk said. “With this being his last harvest before retiring, it meant so much to me to see our prototype on his combines for my family’s final harvest.” For more information on Ground Truth Ag, visit www.groundtruth.ag
September 27, 2022 – Calgary, AB –Tall Grass Ventures is pleased to announce the successful launch and initial close of Canada’s newest agrifood tech venture fund. With a focus on pre-Series A investment across the agrifood tech value chain, the team at Tall Grass Ventures specifically designed their first fund to target an existing gap in early-stage capital in Canada. “As past founders ourselves we know firsthand some of the challenges that exist raising early-stage capital, especially in Western Canada,” says Wilson Acton, Managing Partner and 4x tech startup founder. “More than a gap in capital, there is a desire by founders to receive genuine support to help build better leaders and better companies. Bringing experience and capital to agtech startups is exactly where Tall Grass is focused.” The team believes that the fund is only as good as the sum of its parts, which is why building a firm with a depth of experience and expertise that is currently unmatched in the Canadian market gives them an advantage. “Our first priority is ensuring that we are identifying and working with companies that we can add real value to,” says Managing Partner, Chris Edwards, “Tall Grass Ventures works as an extension of the teams in our portfolio, enabling them to openly access our deep industry connectivity, experience and operational knowledge gained through lessons learned as founders, mentors, thought leaders and connectors.” Armed with a penchant for peer-mentorship, deep industry knowledge, connectivity and a robust platform of resources, Tall Grass Ventures is creating a purpose-built ecosystem and environment that will enable the next generation of agrifood tech companies to scale quickly. Agriculture is in the early stages of yet another transformative revolution, at the heart of which is data, connectivity & sustainability. The sector is demanding attention as several factors such as climate change, increasing demand for food, fragile production and supply chains, rising prices and geopolitical issues continue to challenge and strain the global food supply. With a period of rapid technology adoption on the horizon, there is no better time to be catalyzing growth across the sector. As one of the top 5 most agriculturally productive regions in the world, it is clear that the world needs more Canadian agriculture and in turn, needs more Canadian innovators who are developing new ways to produce our food, fiber and fuels. In response to this opportunity, Tall Grass Ventures is building the leading investment firm in the Canadian agriculture and food sector. “We look forward to being a part of the solution to an evolving agricultural sector” said Wilson, “and to supporting the entrepreneurs who are changing the face of the future of food.” For Media Inquires: Marlise Hunter, Director of Platform mhunter@tallgrass.vc About Tall Grass Ventures: Tall Grass Ventures is a leading investment firm based in Calgary, Alberta focused on the agriculture and food sector. Leveraging our deep industry knowledge, connectivity and backgrounds as farmers, founders and investors, we support the entrepreneurs who are changing our world’s relationship with its food, fuels and fibers. To learn more visit www.tallgrass.vc