Regrow Ag Secures $38M in Series B Funding
Regrow Ag, the leading technology platform empowering food and agriculture companies to achieve net-zero carbon goals in their supply chains and measure and verify their progress, has announced a $38M Series B funding round. Food and agriculture contribute 26% of global carbon emissions. Industry leaders such as Kellogg’s, Cargill and General Mills partner with Regrow to create and implement strategies for reducing their greenhouse gas footprint.
The round is 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.
Funding comes during a time of tremendous momentum for Regrow, increased attention to natural solutions as a powerful tool to reduce and to offset carbon emissions, and escalating commitments from major companies to set ambitious sustainability targets. Regrow’s platform provides trusted, independent data to support growing ecosystem markets. Currently, Regrow’s global solutions power regenerative ag programs on over two million acres and touch Scope 3 supply sheds covering over 500 million acres.
Regrow’s enterprise SaaS platform, built upon decades of peer reviewed academic research, provides the most comprehensive solution for leading companies to manage the carbon in their own agricultural supply chains and confidently invest in soil carbon-based solutions. Regrow continues to innovate and has released three unique and powerful new products in the last 24 months, including its industry-leading Monitoring, Reporting and Verification (MRV) platform.
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Nathan Fries, Cargill Agricultural Supply Chain North America Sustainability Lead, stated, “At Cargill we are committed to building connected supply chains, bringing together people from farm to fork to ensure we’re nourishing the world in a safe, responsible, and sustainable way. Regrow’s Monitoring, Reporting, and Verification (MRV) platform with its leading science and technology and ease of use for farmers is central to enabling Cargill’s global commitment to a sustainable supply chain.”
Veery Maxwell — partner at Galvanize and Co-Head of the Innovation & Expansion Strategy — noted, “Regrow has filled a gap in the market with its all-in-one sustainable agriculture Monitoring, Reporting and Verification (MRV) solutions — unlocking a credible path for agriculture to participate in ecosystem service markets on a global scale. Regrow’s enterprise software platform is making it possible for all organizations committed to net-zero to leverage regenerative agriculture to meet their commitments.”
“This new round of funding from leading climate-focused investors is a big milestone for Regrow and for the soil carbon MRV space at large. We are thrilled to enter this new stage of growth with the support of an exceptional group of partners,” said Anastasia Volkova, PhD, CEO and co-founder of Regrow.
“Agriculture needs resilience not just to put food on our plates today, but to support a livable planet for future generations. At Regrow, we are excited to be the trusted partner in delivering on organizations’ net-zero goals by leveraging the global opportunity of regenerative agriculture.“
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. Regrow will continue to invest in strengthening its partnerships, empowering more organizations on their path to net-zero, and growing one of the most qualified and passionate teams in the industry.
For those of you feeling the climate emergency and wanting to lend a hand in solving it, check out the open positions at Regrow across product and engineering, sales and marketing, soil carbon and ecosystem sciences.
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