Ground Truth Agriculture Inc. has secured $4 million to develop technology that it says will provide farmers with lab-quality grain analysis right off their combine, in real-time and with location precision
The funding round was led by Conexus Venture Capital Inc. and includes $2-million from the ag-tech Emmertech fund. Additional investors include SaskWorks Venture Fund Inc., Tall Grass Ventures, Golden Opportunities Fund Inc., WTC Investments LP, private investors, and new commitments from existing shareholders.
Kyle Folk, Ground Truth Ag CEO, says that on his own family’s farm, during harvest time, there is a great deal of effort that goes into optimizing that year’s yield — but the precision wasn’t always there.
“[After all that time] we would send a grain sample to a lab with a volume equivalent to what comes off a four foot square piece of land to judge the quality of a harvested area of at least 75 football fields. Where is the precision in that?” he asks.
Folk previously developed Bin-Sense, now owned by Calian Agriculture, and first proved the tech on his family farm. Ground Truth Ag’s team created a current prototype of the grain analysis tech in time for this year’s harvest on Folk’s family farm at Holdfast, Sask.
Since beginning operations in January of this year, Ground Truth Ag’s team has grown to include 15 employees working out of the Regina, Saskatchewan-based headquarters.