EMERYVILLE, Calif., June 21, 2021 (GLOBE NEWSWIRE) -- PatternAg, Inc., recently announced the close of an additional funding round, bringing on additional investors The Nature Conservancy, iSelect Fund, and LAUNCH. This group of investors will join Valor Capital Group, Ospraie Ag Science, Founders Fund, the International Finance Corporation, and The Production Board.
Pattern Ag is committed to discovering the next frontier of agriculture, believing it will come from growers being able to understand and work with the soil biology on their farm. Pattern Ag’s analytics offerings allow growers to see what’s living in their soil, and to make input and management decisions in accordance with the individual microbiome that exists in any given field.
Pattern Ag will use the additional funds to strengthen their connections and visibility with existing soil health initiatives that exist for farmers today. There are also plans to enhance their current soil health analytics offering to make it more relevant and actionable for growers than ever before.
“Bringing on these additional investors aligns with our commitment to bringing solutions to the farm gate that are both beneficial to the planet, and beneficial to a growers bottom line,” says Rob Hranac, CEO of Pattern Ag. He goes on to say “Because of the insight we gain working with these organizations, we will be able to ensure our future offerings are profitable and practical for the grower, while also improving the environment.”
Commenting on the significance of the effort, TNC’s Director of Agricultural Innovation Renée Vassilos said: “Deteriorating soil health underpins many of the agricultural challenges facing us this century - from climate and biodiversity, to food security and freshwater. The science of soil health solutions is becoming more evident every day, but the pace of market-driven innovations has so far lagged the need for action. By putting our money where our mouth is we’re optimistic about the potential of our portfolio companies to accelerate solutions to the soil health challenge.” Michael Doane, TNC’s global managing director for food and freshwater systems, adds: “Investments in and collaborations with early-stage agri-tech companies will help make the task of managing for soil health more operationally efficient and profitable for farmers.”
About PatternAg, Inc.
Founded in 2018, PatternAg envisions a future where conventional agricultural inputs are enhanced and eventually replaced by precision microbiome engineering, improving farm productivity and sustainability. Pattern is headquartered in Emeryville, CA with field teams in six Midwestern states. Pattern uses metagenomic analytics to help farmers optimize their spend on fertility and crop protection inputs, while improving the long term productivity of their land. To learn more, visit www.pattern.ag.
About The Nature Conservancy:
The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world's toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping make cities more sustainable. Working in 72 countries and territories: 38 by direct conservation impact and 34 through partners, we use a collaborative approach that engages local communities, governments, the private sector, and other partners. To learn more, visit www.nature.org or follow @nature_press on Twitter.
About iSelect Fund
iSelect Fund Management, LLC (iSelect) is a venture fund manager focused on critical global issues where innovation drives impact. We invest in early and growth-stage companies in sustainable agriculture, food and healthcare, where solving hard problems can provide positive returns and improve our world. For more information, please visit www.iselectfund.com
Casey McGuire
Marketing Lead- Pattern Ag
317-385-1596