Terramera, a Canadian company selling bio-pesticides and seed treatments to reduce the use of chemicals in agriculture, has raised $45 million in its latest round of financing.
The round was led by strategic investor Ospraie Ag Science and the company’s previous backer, Seed2Growth Ventures.
Led by Carl Casale, a former Monsanto executive, Ospraie Ag Science has backed several manufacturers of bio-pesticides and organic crop management products including Marrone BioInnovations and Agrospheres.
Vancouver-based Terramera first came to prominence with a line of Neem-based pesticides that are sold in retailers across North America (including Target). That product targets bedbugs, mites and other household pests and funguses.
The company’s latest product is Actigate, and capital from its latest round will be used to boost research and development and sales and marketing, according to a statement.
“We are on the path to reduce global synthetic chemical loads in agriculture by 80% by 2030 with Actigate,” said Karn Manhas, Terramera founder and chief executive, in a statement.
According to the company, Actigate increases the efficacy of both biopesticides and traditional chemical pesticides to reduce the use of chemicals in . farming.
“Terramera’s Actigate platform shifts the paradigm, making biopesticides more effective and competitive,” said Casale in