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AgriTech Investments & Partnerships
Switch Bioworks $17M Funding Round; The AgXis Program; Syngenta's Partnership & More!
Sepehr Achard
September 06, 2024
In partnership with Harnois Greenhouse
Welcome to this week's AgTech digest!
We’re covering the latest innovations, strategic partnerships, and key industry updates that are shaping the future of agriculture.
From the launch of Zone Agtech’s AgXis Program in Quebec to new partnerships advancing pest control and AI advisory platforms, there's plenty to catch up on.
Dive into the details below!
What We Are Covering Today?
Estimated Reading Time: 5 - 6 minutes
Listening Time: 12 - 13 minutes
SPONSORED BY HARNOIS
Vermax by Harnois Greenhouses: Energy-Efficient Greenhouse Innovation
Harnois Greenhouses proudly presents the Vermax glass greenhouse, a breakthrough in energy-efficient design for sustainable agriculture. Using patented energy-saving technologies, Vermax provides growers with an advanced solution to minimize energy consumption while maintaining optimal growing conditions year-round.
With rising energy costs, Vermax’s semi-enclosed system is designed to efficiently control the internal climate, significantly reducing energy expenses. This innovative design can help lower greenhouse gas emissions by nearly 2,000 tonnes annually, contributing to environmental sustainability without compromising productivity.
At Harnois, our vision is to lead the way in agricultural sustainability by developing the first-ever net-zero glass greenhouse. We are committed to pushing the boundaries of energy efficiency, helping growers reduce their carbon footprint while improving productivity. Vermax is our step toward this vision, delivering the future of agriculture today.
FUNDING ROUNDS
Funding This Week: Switch Bioworks, Exacto LLC, Informa Ag & GALY Bag Rounds
This week saw a wave of funding announcements across the AgTech sector, confirming the recent uptick in investments in the sector after a challenging year. With a focus on cutting-edge innovations from carbon-neutral biofertilizers to cellular agriculture, here are the key highlights:
Switch Bioworks announced it has raised $17M in Series Seed financing to support product development, including scale-up and field trials of a carbon-neutral biofertilizer. The round was led by Change Forces Capital, with participation from the Grantham Foundation, Astanor Ventures, Acre Venture Partners among others.
Exacto, LLC has received a strategic growth investment from S2G Ventures and Skyline Global Partners. The investment is aimed at bolstering Exacto’s position as an industry leader and accelerating the development of new solutions, particularly in soil and water management, while also driving resource efficiency across the agricultural supply chain.
GALY Co., closed a $33M Series B financing round. The round was led by Breakthrough Energy Ventures, with new participation from global retail giants H&M Group and Inditex. This latest infusion of capital will be directed towards scaling GALY’s innovative cellular agriculture platform and advancing its flagship product, “GALY Cotton.”
Inform Ag announced the successful completion of a $7 million funding round, led by Rural Funds Group (ASX: RFF). This investment aims to bolster Inform Ag’s growth, allowing the company to enhance its product offerings and better serve the agricultural community.
DEVELOPING AGTECH INNOVATIONS
Zone Agtech Launches AgXis Program to Tackle Quebec’s Agricultural Challenges
Zone Agtech has launched the AgXis Program, a new initiative designed to address labor shortages and operational inefficiencies in Quebec’s agriculture sector. The program aims to support producers by providing 25 priority technologies tailored to five key sectors: strawberries and raspberries, apples, potatoes, greenhouses, and market gardening.
In collaboration with partners such as Epsilia, Taste of the North, and Univerco, AgXis fosters collaboration between producers, researchers, and tech companies to adapt innovations to real-world needs. The program is designed to accelerate the adoption of these technologies, supporting sustainability and improving competitiveness in Quebec’s agricultural sectors.
Key Benefits for AgTech Companies:
Selected companies will receive up to $50,000 in resources, including:
Coaching and expert consultations.
Workshops, field visits, and access to market opportunities.
Testing sites and funding introductions.
Applications are open until September 20 on the Zone Agtech website.
STRATEGIC PARTNERSHIPS
This Week’s Partnerships: Syngenta, AGRIVI & Hatcher+ Ink Deals
Image provided by Syngenta
This week’s key partnerships in the AgTech sector highlight collaborations aimed at advancing pest control, agricultural advisory, and startup support. Here are the main developments:
Syngenta Biologicals and Provivi Partner on Pheromone-Based Pest Control Solutions
Focus: Syngenta Biologicals and Provivi have teamed up to develop non-toxic, pheromone-based pest control products for corn and rice crops, targeting pests such as the Yellow Stem Borer (YSB) in India and Indonesia and Fall Armyworm (FAW) in Thailand.
Impact: The new products, YSB Eco-Dispenser and FAW Eco-Granules, expected in 2026, aim to preserve biodiversity while reducing the environmental impact of pest control. This partnership aligns with Syngenta’s sustainability goals by increasing crop productivity with minimal ecological harm.
AGRIVI and BADMC Launch AI-Powered Agronomic Advisor in Barbados
Focus: AGRIVI and the Barbados Agricultural Development and Marketing Corporation (BADMC) have launched a national AI-powered agronomic advisory platform, making Barbados the first country to offer 24/7 real-time agronomic advice via WhatsApp.
Impact: This platform supports Barbados’ food security goals by helping farmers improve productivity and sustainability, while promoting the digitalization of agriculture.
Hatcher+ and Mandalay Venture Partners Join Forces to Support AgriFood Tech Startups
Focus: Hatcher+ and Mandalay Venture Partners have formed a strategic partnership to invest in agrifood tech startups, with their first joint investment in Cropify, an AI-powered grain grading company.
Impact: The partnership combines Hatcher+’s AI-driven FAAST™ platform with Mandalay’s agrifood expertise, aiming to drive innovation across the food supply chain, from farm technologies to point-of-sale solutions.
OTHER NEWS
AgriTech Weekly: Certifications, New Products, Expansions & More!
Here’s a snapshot of other significant developments this week:
👍 Biotalys’s Dutch Approval: Biotalys has received approval from the Dutch regulator CTGB to conduct large-scale greenhouse trials of its biofungicide candidate, EVOCA™. The trials will involve 40 hectares of tomatoes, 20 hectares of cucumbers, and 10 hectares of strawberries, with harvested produce allowed for human consumption.
🖊️ Ceres Rebranding: Ceres Imaging has rebranded to CeresAI to reflect its focus on AI and machine learning in the agricultural industry. A Series D funding round led by Remus Capital will support the company’s expansion in agribusiness and financial services.
💧 Netafim’s Growspheres: Designed to improve efficiency and boost farm productivity, GrowSphere integrates hydraulic, operational, and agronomic management into one system, reducing manual operations and optimizing water and fertilizer usage.
🔬 Plenty’s R&D Expansion: Plenty Unlimited Inc. is expanding its R&D capabilities with the construction of the world’s largest vertical farming research center in Laramie, Wyoming. The facility will leverage advanced plant science research, custom technology, and AI-driven platforms to explore new possibilities in indoor farming.
🥇 Rouge AgTech Accelerator: The Rouge Agtech Accelerator offers Agtech startups an unprecedented opportunity to test their solutions on 86,000 square meters of real rice farmland. Startups gain access to valuable Asian crop and climate data, fostering innovation tailored to global agricultural standards.
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