September 10, 2019

By Lynda Kiernan

Ospraie Ag Science, an investor targeting opportunities in the agtech space supporting sustainable solutions that improve the quality of life for both farmers and society, has led funding rounds for two separate crop protection startups – one that enhances the active ingredients in both synthetic and biological pesticides, and the second that improves their delivery.

AgroSpheres – Series A

In the final days of August it was announced that Ospraie led a $4 million Series A for AgroSpheres, a Virginia-based developer of a novel system for crop protection products. The round also included Cavallo Ventures, the venture arm of Wilbur-Ellis. The investment opportunity was identified by Carl M. Casale, a senior partner at Ospraie, and member of Syngenta’s board of directors, and former CFO with Monsanto. 

Located in Charlottesville, and founded by COO Payam Pourtaheri and CTO Ameer Shakeel, AgroSpheres’ mission is to dramatically improve the delivery of pesticides, making them more effective, environmentally friendly, and more cost effective. 

The company’s core business is based around Minicell technology, a natural fermentation product that encapsulates and delivers both biological and synthetic pesticides. This process, which has particularly significant potential for the delivery of biologicals, shields active ingredients from heat, UV light, microbes, and enzymes that would have a negative impact. This ability has dual benefits of improving performance, and lowering the dosage needed, and thereby reducing the environmental impact of agricultural production.

“We’ve been impressed by the AgroSpheres team and its technology,” said Mike Wilbur, president, Cavallo Ventures. “The Minicell platform can make pesticides work better, and we’re looking forward to working with them to help bring its products to market.”

Through this round, AgroSpheres gains connections with Ospraie and Cavallo –  two investors that bring with them deep industry knowledge and relationships that will add enormous value to its work and team, and the needed capital to accelerate the development of its Minicell platform.

“AgroSpheres’ Minicell platform has enormous potential to enhance the delivery of pesticides.  Improving delivery is particularly important for biologicals – an important and promising category of crop protection,” said Casale. We are confident in AgroSpheres’ management and look forward to supporting the commercialization of their technology, one that could provide enormous benefit to farmers.”

Terramera – Series B

One week following the AgroSpheres announcement, Ospraie Ag Science led a $45 million Series B as a new investor in Terramera, an emerging cleantech startup with the goal of reducing synthetic chemical usage in global agricultural production by 80 percent, and increasing productivity by 20 percent by 2030. Existing investor S2G was also included in the round. 

Privately held, and founded in 2010 in Vancouver, British Columbia, Terramera is focused on joining AI, science, and nature to develop revolutionary technologies that transform how we grow food and answer global challenges.

With integrated operations that include a research lab, a greenhouse and farm, and an IP portfolio consisting of 185 patents, Terramera’s cornerstone is its Actigate™ Targeted Performance technology – a platform that significantly improves the performance of both natural and conventional active ingredients used in crop protection products. The result is higher rates of effectiveness for organic pesticides and less synthetic chemicals in farming systems.

“Terramera has the people, purpose and now the capital in place to transform the industry as a whole and truly impact the world,” said Carl Casale of Ospraie Ag Science. “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.”

Concurrent to the announced funding, Terramera also announced that Carl Casale will join its board of directors, and executive Jeff Booth will be named its chairman.

“We are grateful for the support of Ospraie Ag Science and S2G Ventures,” said Karn Manhas, founder and CEO, Terramera, “… 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.”

– Lynda Kiernan is Editor with GAI Media and daily contributor to GAI News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at lkiernan@globalaginvesting.com.