PheroSyn Secures Funding from Tall Grass Ventures to Advance Sustainable Pest Management Solutions
PheroSyn Secures Funding from Tall Grass Ventures to Advance Sustainable Pest Management Solutions
Harpenden, UK – July 22, 2024 PheroSyn, an innovative agricultural technology company specializing in the development of insect pheromones for sustainable crop protection, announced today that it has secured investment from Tall Grass Ventures (TGV), a leading Canadian venture capital firm focused on early-stage agri-food tech startups. This funding will accelerate PheroSyn’s mission to replace harmful chemical pesticides with more sustainable alternatives.
A spin-out from the renowned chemical ecology research group at Rothamsted Research in the UK, PheroSyn is committed to providing farmers and growers with effective and sustainable pest management solutions. The company’s groundbreaking pheromone-based products offer a safer and more targeted approach to pest management, minimizing the environmental impact of traditional pesticides.
“We are delighted to partner with a firm that shares our vision for a more sustainable future in agriculture,” said Dr. Mary Ellis, Co-founder and CEO of PheroSyn. “This investment is a significant step towards advancing the growth of our company, and will enable us to expand our product portfolio, accelerate research and development, and reach a wider market with our innovative solutions. Ultimately, farmers and growers across the world are facing renewed pressures with fewer products in their toolbox, and this support will allow us to scale and expand our solutions to help protect crops while also preserving the earth’s biodiversity.”
PheroSyn’s proprietary pheromone production methods allow for the creation of cost-effective and environmentally friendly pest management products. By harnessing the power of natural insect communication systems, the company’s novel products offer a targeted and effective way to manage pests, while preserving biodiversity and minimizing the risk of resistance development.
“Quality of founders is at the top of the list in the venture world, and we found Mary and Daniel excellent to work with, very down to earth, and extremely motivated to succeed in this endeavour.” said Chris Edwards, Managing Partner at Tall Grass Ventures. “Insect pheromones are not easy to synthesize accurately, and so PheroSyn’s unique technological approach coupled with a market waiting for a solution, really made us stop and take notice.”
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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
Vivid Machines Closes $4.3M USD Seed Round Funding
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