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CEO Michael Gilbert said the agtech firm's profit-making status puts it in a position to acquire companies that will 'close the loop on risk mitigation and decision-making.'
Pea shoots growing hydroponically
Cofounder Steven Dring says the start-up expects to reach its target 'pretty soon' and is working on building out a new cohort of hydroponic farms with partners.
Aquaculture in Norway
The firm's first two funds have almost raised a combined $250m from family offices and will invest in Norwegian ag and energy companies before exporting them to South-East Asia.
Investment into areas such as agtech, aquaculture, controlled environment agriculture and sustainable proteins are expected to bear the biggest opportunities.
The two investors have each committed A$8m to the first fund raised by Tenacious Ventures, billed as Australia’s first agtech-focused venture capital fund.
BP Ventures CEO David Hayes says the firm's $30m investment into feed producer Calysta is the kind of complementary opportunity his unit will hunt for as it increases the scale and pace of investments.
Chief scientist Yaakov Nahmias says the start-up’s methodology means it only takes 14 days to produce cultured chicken or beef, whether it is producing 1kg or 1 tonne of meat.
FarmWise’s autonomous robots are already being used by customers to carry out weeding and the company plans to use the Series A funds to add further farming capabilities.
A market source says Terramera’s offerings create synergies that could open the door to a future combination with Ospraie Management’s main biologicals platform, Marrone Bio Innovations.
Protectionism and increased scrutiny of foreign investment into the US encourage investors to look at Canada, as appetite for direct institutional investment also grows.
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