Regrow Ag, a Durham, US-based leading technology platform empowering food and agriculture companies to achieve net-zero carbon goals in their supply chains and measure and verify their progress, announced that it raised a $38 million Series B funding round.
The round was led by Tom Steyer and Katie Hall's Galvanize Climate Solutions. New investors include TIME Ventures, the VC fund set up by Salesforce founder Marc Benioff, and Rethink Impact, the largest US-based VC firm focused on female leaders solving global problems. The round has also been supported by existing investors including Cargill, Main Sequence Ventures, Ajax Strategies, Neglected Climate Opportunities (NCO), Microsoft’s M12, and others.
Regrow will use the funding to deepen the reach of its customer programs in key food-producing regions across the globe, connecting more farmers to the benefits of regenerative agriculture and revenue streams provided by ecosystem markets.
Company: Regrow Agriculture Inc.
Raised: $38.0M
Round: Series B
Funding Month: May 2022
Lead Investors: Tom Steyer and Katie Hall's Galvanize Climate Solutions
Additional Investors: TIME Ventures, Rethink Impact, Cargill, Main Sequence Ventures, Ajax Strategies, Neglected Climate Opportunities (NCO), and Microsoft’s M12
Company Website: https://www.regrow.ag/
Software Category: Carbon Measurement Software
About the Company: Founded in 2016 Regrow Ag is a SaaS platform to help food and agriculture companies to achieve net-zero carbon goals in their supply chains. It also verifies their progress. The startup counts food sector giants such as Kellogg’s, Cargill, and General Mills among its client base. Regrow’s global solutions power regenerative agriculture programs on over two million acres and touch scope three supply sheds covering over 500 million acres. Regrow is a multinational team of scientists, agronomists, engineers, and software developers committed to transforming the supply chain from farm to fork to ensure a prosperous future for people and the planet. Regrow Ag is a technology company on a mission to make regenerative agriculture ubiquitous on every acre across the globe. Regrow Ag uses leading science and technology to develop solutions that empower regenerative agriculture across all aspects of the supply chain, from growers to global food companies.
Source: https://www.regrow.ag/post/regrow-ag-secures-38m-in-series-b-to-use-agriculture-to-meet-net-zero-targets