EarthOptics, a leading provider of soil measurement and insights, has announced a round of strategic investments from both existing and new investors. The $27.6 million funding round, led by Conti Ventures, will be used to further build out EarthOptics’ GroundOwl™ sensor suite capabilities, accelerate acreage growth, and scale service providers. This increase in funding will help to meet growing customer demand for the company’s product and service offerings to farmers and ranchers.
EarthOptics uses a combination of ground-based sensors, satellites, physical soil samples, machine learning models, and agronomic expertise to help farmers and ranchers make better data-driven decisions about their land. This groundbreaking technology delivers insights that help farmers optimize fertilizer applications, make informed tillage decisions, quantify carbon sequestration, and more.
In addition to Conti Ventures, Rabo Food & Ag Innovation Fund (RFAIF), CNH Industrial, Louis Dreyfus Company Ventures, and CHS and Growmark’s Cooperative Ventures join current EarthOptics investors Leaps by Bayer, FHB Ventures, S2G Ventures, iSelect Fund, Route 66 Ventures, and Middleland Capital’s VTC Ventures.
“Our industry-leading technology has huge potential for farmers and agribusiness,” Lars Dyrud, EarthOptics CEO, said. “This funding will propel our growth and enable us to scale the SoilMapper™ platform.”
The Series B funding will expand access to valuable tools and deliver hyper-accurate soil insights, providing immediate cost savings for farmers, who recognize the importance of having comprehensive data about their soil. The company’s technology can help farmers to make better decisions about their land, ultimately improving productivity while cutting costs.
Recently, the USDA announced EarthOptics as a partner in their Climate Smart Partnership for six separate proposals. With this new momentum, EarthOptics continues to evaluate additional partnerships and work.
This funding comes on the heels of a successful 2022 for EarthOptics, which saw ten times growth in acres covered and partnerships with global food companies. The company’s soil measurement technology has the potential to revolutionize the way farmers make decisions about their land, and this funding will help to ensure that even more farmers and ranchers can access the company’s cutting-edge technology.
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