Business

Agriculture carbon reduction startup Regrow Ag plants $50 million Series B


US-based Australia agtech startup Regrow Ag has raised $50 million (US$38m) from main American traders to assist the farming sector meet net-zero targets.

The spherical is led by Tom Steyer and Katie Hall’s Galvanize Climate Solutions. Existing traders together with Cargill, Main Sequence Ventures, Ajax Strategies, Neglected Climate Opportunities (NCO), Microsoft’s M12 and others returned, joined by new backers resembling Salesforce founder Marc Benioff’s TIME Ventures, and Rethink Impact, the biggest US-based VC agency targeted on feminine leaders.

The enterprise beforehand raised $23.5 million in a Series A in August 2021 and can use the recent money to deepen the attain of its buyer packages in the important thing food-producing areas throughout the globe, connecting extra farmers to the advantages of regenerative agriculture and income streams offered by the ecosystem markets.

Regrow Ag is a SaaS platform to assist meals and agriculture corporations to attain net-zero carbon targets of their provide chains. It additionally verifies their progress. Food and agriculture accounts for round 26% of worldwide carbon emissions. The startup counts meals sector giants resembling Kellogg’s, Cargill, and General Mills amongst its consumer base.

Regrow started in 2016, as a part of Sydney University’s “Inventing the Future” innovation program. Its Ukrainian-born founder and aeronautical engineer Dr Anastasia Volkova – she has a PhD in autonomous drone navigation – moved to the US from Australia in 2020 to drive the corporate’s progress in that market.

She additionally concluded the increase whereas serving to her mom relocate to the US from Ukraine to flee Russia’s invasion and conflict on her homeland and its residents.

Dr Volkova stated the funding comes throughout a time of super momentum for Regrow, amid elevated consideration to pure options as a robust software to cut back and to offset carbon emissions.

Regrow’s world options energy regenerative agriculture packages on over two million acres and contact scope three provide sheds protecting over 500 million acres.

“This new round of funding from leading climate-focused investors is a big milestone for Regrow and for soil carbon MRV space at large. We are thrilled to enter the new stage of growth with the support of an exceptional group of partners,” she stated.

“Agriculture wants resilience not simply to place meals on our plates at the moment, however to help a habitable planet for future generations. At Regrow, we’re excited to be the trusted accomplice in delivering on organisations’ net-zero targets by leveraging the worldwide alternative of regenerative agriculture.“

Galvanize accomplice Veery Maxwell stated Regrow has crammed a niche out there with its all-in-one sustainable agriculture to deal with monitoring, reporting and verification (MRV) options – unlocking a reputable path for agriculture to take part in ecosystem service markets on a world scale.

“Regrow’s enterprise software platform is making it possible for all organisations committed to net zero to leverage regenerative agriculture to meet their commitments,” she stated. 





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