Trace Genomics, an Ames, IA-based company which specializes in DNA-based soil intelligence, raised $10.5M in Series B funding.
The round was led by S2G Ventures and Ajax Strategies, as well as new investor Rabo Ventures.
The company intends to use the funds to expand its commercial growth, making its offerings available to more farmers and agronomists.
Led by CEO Poornima Parameswaran, Trace Genomics specializes in the use of hi-definition genomics, soil science, and machine learning to activate hidden insights in soil for economic and ecosystem benefits. It provides a comprehensive and precise understanding of the soil’s composition—analyzing the soil’s biology, physical properties, and chemistry. Trace Genomics delivers targeted database insights and actions at cost-speed-scale-accuracy for partners who are advancing modern farming solutions.
Commenting on the news, Poornima Parameswaran said: “The Series B funding represents a pivotal milestone for Trace, positioning us to accelerate our reach with cutting-edge soil DNA intelligence solutions, and advancing sustainable agriculture with a focus on farmer profitability. Our commitment to providing customers with innovative technology and comprehensive support with operational excellence aims to improve agricultural business outcomes and boost productivity for farmers and agronomists.”
FinSMEs
20/02/2024