ChrysaLabs, a Montreal, Canada-based ag-tech company focused on soil science, raised CAD $15M in Series A funding.
The round saw participation from Leaps by Bayer, TELUS Ventures and BDC Capital. Existing investors Ecofuel, Emmertech, Anges Québec, AQC and Koan Capital.
The company intends to use the funds to expand its business reach among growers and provide them with real-time portable lab data.
Led by CEO, Samuel Fournier, ChrysaLabs is an ag tech company at the intersection of agriculture and science. Its solution uses Cloud computing, Artificial Intelligence, and machine learning to extract real-time data from its patented spectroscopy technology providing information within seconds, and allowing field managers to take actions minutes after sampling, enabling producers and agronomists to sample the soil.
A ChrysaLabs Probe™ combines three patented technologies with AI machine learning to deliver real-time insights straight to the field. The sampling probe analyzes 40 different soil parameters to provide a precise overview of what is happening in the soil. Within 30 seconds of inserting the probe into the ground, users will have a complete soil analysis – including macronutrients, micronutrients, pH, organic matter, CEC, organic carbon, bulk density, moisture and more – at their fingertips.
To date, ChrysaLabs technology has been used on more than two million acres across seven countries, six Canadian provinces and 25 U.S. states.
FinSMEs
11/05/2023