Australian crop monitoring start-up gets $38m Series B

Several existing investors re-upped, including agribusiness giant Cargill, Main Sequence Ventures, Ajax Strategies, Neglected Climate Opportunities (NCO), and Microsoft’s M12 VC unit. The company was formed last year through the merger of agricultural management software provider FluroSat and soil carbon modelling specialist Dagan. FluroSat previously received seed funding from M12.

Galvanize was formed last year by Tom Steyer, founder of Farallon Capital, and Katie Hall, founder of Hall Capital Partners, as a mission-driven platform that integrates climate-focused investment with global activism. Rethink impact claims to be the largest US-based VC firm dedicated to supporting female leaders who are addressing global problems.

Founded in 2016 by Anastasia Volkova, Regrow is positioned as a science and technology provider that empowers regenerative agriculture across all aspects of the supply chain. It operates a software-as-a-service (SaaS) platform that helps companies manage carbon in their agricultural supply chains and invest in soil carbon-based solutions. Customers include Kellogg’s, Cargill, and General Mills.

There are three main pillars to the business: FluroSense Crop Insights, which produces crop and soil-specific reports for monitoring crop performance; Sustainability Insights, which tracks conservation practice adoption within supply chains; and a monitoring, reporting, and verification (MRV) platform.

At present, Regrow’s solutions support regenerative agriculture platforms covering more than 2m million acres and supplier ecosystems capable of tracking scope-three emissions – indirect emissions through entire supply chains – across over 500m acres. The new funding will go towards geographic expansion, investment in new partnerships, and recruitment, according to a statement.

“Regrow has filled a gap in the market with its all-in-one sustainable agriculture MRV solutions — unlocking a credible path for agriculture to participate in ecosystem service markets on a global scale,” said Veery Maxwell, a partner and co-head of innovation and expansion strategy at Galvanize.

“Regrow’s enterprise software platform is making it possible for all organisations committed to net-zero to leverage regenerative agriculture to meet their commitments.”

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