FarmLab: agronomy software company $5m capital raise to scale globally
- Seeking strategic partners and $5m in capital to support the growth of FarmLab Agronomy Software into the US market
- AgTech providers interested in using FarmLab Agronomy Software in the US
- Investors interested in carbon offset generation projects in the US
- Agronomists and advisors with key connections within the US agriculture sector
Accurate and cost-effective measurement of soil is crucial as a basis for measuring sustainability, reducing fertiliser use and optimising land use in agriculture. Even today it is still uncommon to ‘georeference’ the location of soil samples and measurements taken in the field, making it impossible to understand the changes to the landscape over time.
FarmLab provides complete digital infrastructure to support farmers, consultants and agtech companies to collect data, measure and map their land, reducing the cost and increasing the accuracy around soil measurement.
McKinsey estimates the global carbon offset market to be $50B by 2030.
FarmLab is seeking $5M to scale operations in north America.
Australia has one of the most advanced voluntary carbon offset markets, with requirements exceeding that of other markets. Despite the potential in the market, there is a lack of transparency in carbon offset markets due to poor digitisation in the environmental market.
FarmLab is experiencing 20% month on month growth, with revenue doubling in the past 3 months.
FarmLab has developed;
- the infrastructure to streamline and integrate soil, water and plant sampling, testing and reporting of results, and
- the platform to reduce complexity and costs.
FarmLab is the only solution provider in Australia that provides users with the infrastructure, platform and tools to sample, test and feed results into the clean energy regulator, enabling them to ‘set and forget’ one sampling has been done.
Potential other applications
Given the Australian carbon offset market is one of the most mature globally, there are other opportunities to enter other markets.
Additional opportunities are also possible as carbon and biodiversity applications continue to align with agronomic applications.
For more information about this opportunity please submit an enquiry by clicking "enquire now".
Learn more about FarmLab and their mission to help 1 million farmers sequester 1 billion tonnes of CO2 by 2025 in our editorial.
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