Canadian Agtech company Croptimistic Technology raises $5.2M in Series A funding led by Forage Capital Partners
June 3, 2021 – Naicam, Saskatchewan – Croptimistic Technology Inc. (Croptimistic) announces $3.5M in Series A investment from Forage Capital Partners (Forage) to complement an additional $1.7M in funding from the founders and institutional debt. This new capital will help accelerate the growth of Croptimistic’s SWAT MAPS technology. The SWAT technology ecosystem provides farmers and partners with high resolution soil foundation maps to execute variable rate fertilizer, seed, soil amendment, herbicide, and precision water management. Since the first year of operations in 2018, Croptimistic has grown to 18 staff across Canada, the USA and South Africa. It has nearly 100 partners spanning 4 countries and $2M in revenue in 2020.
Croptimistic CEO and co-founder Cory Willness says, “We are excited to take the next step of our journey with the team at Forage. Jim Taylor and Steven Leakos have already made strides due to their extensive expertise in the Agtech space. We want to acknowledge our incredible team based in 3 countries who have worked tirelessly to get us here and our COO, Rob Harris, who was instrumental in executing this funding.” CTO and co-founder Derek Massey adds, “The funds raised will be used to add developers and professional staff to our Kelowna, BC hub to build out the software and hardware solutions in order to meet the high growth demands from the millions of acres in our system.”
Steven Leakos of Forage says “We are proud to partner with the team at Croptimistic, a world leader in variable rate farming applications. Croptimistic’s SWAT MAPS, software, world class hardware, and current IP portfolio together with their strong agronomic background provides farmers with an excellent return on investment and significantly reduces the overall environmental footprint to their farming operation.”
Croptimistic also welcomes new investor, Greg Stewart, who has been appointed Chairman of the Board of Directors. Stewart is currently a director at the Bank of Canada and was a former President and CEO at Farm Credit Canada (FCC), a leading agricultural lender and self-sustaining Crown Corporation. Stewart says, “I’m honoured and excited by the opportunity to be an investor and appointed Chairman of the Board for Croptimistic Technology. Their proprietary technology is solving real-world issues in the agricultural space, leading the way with effective variable rate application, and reducing and monitoring environmental impact in the sector. The future is bright for global agriculture, and this is a crucial piece of the puzzle to allow for sustainable and cost-effective farming.”
About Croptimistic Technology Inc.: Croptimistic is an internationally operating Agtech company founded by Cory Willness, Shannon Willness and Derek Massey. It has built a vast partner network with SWAT MAPS, a turn-key variable rate process that prioritizes Soil, Water, And Topography (SWAT) factors of fields for the creation of management zones. Their technology includes SWAT Records (software and apps), SWAT BOX (autonomous soil mapping system), SWAT CAM (machine learning sprayer cameras) and SWAT WATER (soil moisture maps). The value proposition for their technology is strong, with annual retention rates above 95% on SWAT Mapped acres along with documented environmental and climate change improvements. Key APIs include Climate FieldviewTM and John DeereTM. To learn more about Croptimistic and the SWAT ecosystem, visit swatmaps.com.
About Forage Capital Partners: Forage is Canada’s most experienced team of Ag & Food investors, having managed over $500 million in commitments to the industry over the last 18 years. Forage Capital Ag & Food Business Solutions Fund works to provide its portfolio companies with the stability and flexibility they need to expand and adapt their business models during these challenging times. The fund will invest with creative business owners that are looking to capitalize on new and innovative opportunities that will emerge as the Canadian economy recovers and prospers. For more information on Forage Capital Partners, visit www.foragecapitalpartners.com.
Red Dog Deli Raw Food Company Receives $3.5 Million in Growth Funding Led by Forage Capital Partners
Coquitlam (April 16, 2021) – Red Dog Deli Raw Food Company Inc. (Red Dog), a leading Canadian manufacturer of raw pet food and treats, announced today they have entered into a strategic partnership to help fuel its growth plans. This round of funding is led by Forage Capital Partners and pet food industry experts, John Hart, Scott Doyle and Edmund O’Keeffe.
Since 2004, Red Dog has provided pet parents with wholesome nutrition solutions for pets of every size and breed. The Company began when Inna Shekhtman and five friends joined together to develop food that would help their beloved dogs and cats thrive. Their goal was to create simple whole-food products, using human grade, ethically sourced meats and following human food-safety standards. In addition to great products, Red Dog has made a substantial investment in education, training and research regarding sourcing, food processing, pet food safety, food quality, and nutrition.
Red Dog is committed to working with its industry partners to create a community of suppliers, retail partners, pet experts and pet parents that are passionate about creating a healthier, safer and more sustainable model for nourishing their pets.
“We are excited to be partnering with this group of passionate and highly experienced individuals that share our values and commitment to sustainable food and business.” said Inna Shekhtman, CEO of Red Dog. “We know pet parents want their furry family members to thrive but need help and support along their journey to health. With this new partnership, we will increase our investment in education, product innovation and development that challenges the status quo of the pet industry and prioritizes fresh, biologically appropriate ingredients that promote pet health and longevity.”
“We are proud to partner with the passionate team at Red Dog on their growth strategy. Raw diets are a rapidly growing segment of the pet nutrition market in the North America. We are excited by the opportunity to build on the momentum retailers are seeing in Canada through continued innovation in both product and package formats.” – Steven Leakos, Forage Capital.
“Red Dog Deli is a highly differentiated, unique brand in the raw category. We embrace Inna and her team’s mission of providing better nutrition solutions through superior, fresh, sustainably sourced ingredients. We are extremely impressed with their state of the art, HACCP certified manufacturing facility. Having control over all aspects of sourcing, production and food safety is extremely important to everyone at the Company. Minimally processed, whole food ancestral based nutrition does make a difference in the overall health and well-being of pets. We are proud to be a part of this amazing journey.” – John Hart
About Red Dog Deli Raw Food Company Inc.
Red Dog Deli Raw Food Company Inc. is a manufacturer of raw pet food and treats under the Red Dog Blue Kat brand located in Port Coquitlam, BC. Western Canada’s leader in raw pet food continues to focus on producing quality products using the best food safety standards and delivering science-based education about pet nutrition. Red Dog Blue Kat real pet food products contain free-range, non-medicated meat and certified organic vegetables for maximum bioavailability and absorption. Red Dog Blue Kat products can be found in more than 200 quality pet retailers, including holistically minded veterinarian’s offices in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec. For more information on Red Dog Deli, visit www.reddogbluekat.com
About Forage Capital Partners
Forage Capital Partners is Canada’s most experienced team of Ag & Food investors, having managed over $500 million in commitments to the industry over the last 18 years. Forage Capital Ag & Food Business Solutions Fund works to provide its portfolio companies with the stability and flexibility they need to expand and adapt their business models during these challenging times. The fund will invest with creative business owners that are looking to capitalize on new and innovative opportunities that will emerge as the Canadian economy recovers and prospers. For more information on Forage Capital Partners, visit www.foragecapitalpartners.com
Ostara Raises US $20 Million to Acquire Strategic Assets to Scale Up Crystal Green Fertilizer Production
VANCOUVER, BC, and RIVERVIEW, FL – April 19, 2021 – Ostara Nutrient Recovery Technologies Inc. (“Ostara”) announced today the closing of a financing for proceeds of US$20M (the “Financing”). The Financing was led by Forage Capital, with additional participation from Export Development Canada (EDC), ADM Capital’s advised Cibus Enterprise Fund and Wheatsheaf Group. Proceeds of the Financing will be used to acquire and upgrade a strategically located fertilizer production facility in Missouri that significantly scales up Ostara’s capacity for the production of its Crystal Green fertilizers.
“Ostara is at the center of a movement in agriculture where end-users are demanding crop nutrition solutions that are superior from both an agronomic and environmental perspective. Our corporate philosophy is based on these fundamentals, and we are very pleased to be aligned with leading global investors in agriculture who support our strategy,” said Dan Parmar, President and CEO of Ostara.
“Forage is excited to support a Canadian Ag-Tech leader in the sustainable fertilizer business. Ostara’s global supply chain along with its world class IP portfolio will allow it to build a truly unique product portfolio that enables farmers to reduce the environmental impact of their operations,” said Jim Taylor, President of Forage Capital.
About Ostara: Ostara’s Crystal Green® fertilizers are the first continuous-release phosphorus fertilizers to release nutrients in response to plant demand; these Root-Activated™ granules are proven to increase yields, enhance soil health and significantly reduce phosphorus tie-up and runoff, thereby improving food security while protecting local waterways from nutrient pollution. In addition, the Company’s Pearl® technology recovers phosphorus and nitrogen from industrial, agricultural, and municipal water streams, and transforms these nutrients into its premium, sustainable Crystal Green® fertilizers which are sold into the agriculture and turf sectors through a network of established distributors in North America and Europe. To learn more about Ostara’s revolutionary technologies, please visit ostara.com | crystalgreen.com.
Media Contacts: Ostara Nutrient Recovery Technologies Inc. | Koert VandenEnden | E firstname.lastname@example.org