Vancouver-based ag-tech start-up, Miraterra, is embarking on an exciting journey to commercialise its innovative technology, fueled by an impressive $16 million CAD in seed funding. According to CEO Nate Kelly, this investment will enable the company to unify its diverse capabilities into a cohesive offering that enhances agricultural productivity.

Successful Funding Round Glimpses Potential

Initially aiming to raise $13.9 million CAD, Miraterra’s funding round attracted considerable interest, ultimately leading to an oversubscribed equity raise. The round was spearheaded by At One Ventures, with additional backing from Farm Credit Canada (FCC), S2G Investments, iSelect, and the Sitka Foundation, according to a recent press release.

Innovative Measurement Technology

Miraterra has developed a groundbreaking, non-chemical approach for soil analysis that employs Raman spectroscopy, multiple LiDAR lasers, advanced signal processing, and artificial intelligence. Recent seed funding has facilitated the acquisition of Trace Genomics, allowing the company to broaden its focus to include soil biology measurements, as previously reported by AgTechNavigator.

“The hidden half of the biosphere is beneath our feet,” remarked Tom Chi, founding partner at At One Ventures. “Soil health arises from the interplay between mineral, water, and biological systems. Most existing tools assess only one of these dimensions at a time, limiting utility. What sets Miraterra apart is our integration of all three into a single, scalable measurement platform.”

A Vision for Comprehensive Solutions

With its fresh infusion of capital, Miraterra aims to fast-track the launch of comprehensive technology services extending beyond soil analysis to encompass plant and food measurements. The start-up is already generating revenue through its Digitizer service, as well as its biology business acquired from Trace Genomics.

“Previously, we had various components scattered across different technologies. Now, we’re merging those into a singular solution,” Kelly explained. “These funds will allow us to deploy our innovations more widely, accelerating our revenue growth and creating a unified measurement and insight platform.”

Championing Canadian Agri-tech Innovation

The timing of Miraterra’s funding is particularly critical for Canada’s agricultural sector, which is actively pursuing homegrown innovations to enhance production amid global uncertainties. Last year, FCC pledged $2 billion to foster local innovations within the agri-food landscape, as highlighted by AgTechNavigator.

Kelly expressed his ambition for Canada to acknowledge its strengths in the agricultural domain. “When it comes to agriculture, Canada has the potential to be a superpower,” he stated. “We want to leverage that potential and illuminate the innovative solutions emerging from our country on a global stage.”