Canadian agriculture and food technology company Terramera has emerged with USD$1 million after the Nutrien-Radicle Challenge on October 1 and 2 in Saskatoon.
The Vancouver,B.C.-based company won the growth-stage category. Terramera develops high-performance natural alternatives to synthetic chemical pesticides and fertilizers and has pioneered a method to target active ingredients to cellular delivery.
"They put a lot of time into understanding what we're doing as a company," said Karn Manhas, founder and CEO of Terramera. "We had a broad range of industry leaders serving as judges – all learning about your technology, learning about how to apply it and also giving some great feedback. We're looking at this not just as a source of dollars but of partnerships and advice and a platform to be able to build the company from where it is to the next level."
The Nutrien-Radicle Challenge Canada was created to encourage and accelerate ag and food technology innovation in Canada. More than 100 of Canada's most ambitious agriculture and food technology innovators applied, with eight finalists pitching to a panel of judges.
Growth stage entrants were required to have previously raised US$3 million in investment capital, while early stage entrants needed to have raised at least US$100,000 in investment capital, in kind capital, or have gone through an incubator or accelerator program.
For a list of the finalists, visit nutrienradiclechallenge.com
Source: Canada NewsWire October 2, 2019 news release