Sep 18, 2023Soil health company secures $23 million in funding
Soil health company MyLand Company Inc. has closed its Series B funding round, raising a total of $23 million.
The financing round was spearheaded by investors Climate Innovation Capital (“ClimateIC”) and the Borden Family, which underscores the impact of MyLand’s nature-based solution on sustainable agriculture, according to a news release.
The successful Series B funding round is a transformative step for MyLand, providing the opportunity to extend its operations and innovative solutions to the agricultural landscapes of the Pacific Northwest and Texas, according to the release. The capital infusion will further serve as a catalyst to accelerate the development and deployment of MyLand’s state-of-the-art technologies and services, which are designed to rapidly improve soil quality and productivity, promote sustainable farming practices, and foster amplified crop yields, reduced inputs, and healthier soil ecosystems.
The financing closure is a testament to the value and potential MyLand offers to the agricultural sector, Dane Hague, co-founder and CEO, said in the release. “This financing will fuel our expansion, enabling us to bring our vision of resilient and sustainable farming practices to even more communities and regions.”
The lead investors recognized the pivotal role MyLand plays in addressing the pressing challenges confronting modern industrial agriculture, according to the release. The investment group exemplifies a shared commitment to advancing soil health, mitigating environmental impacts, and promoting the adoption of a more sustainable food production system, according to the release.
“We are excited to join forces with MyLand as they embark on their expansion plans,” Paul Atkinson, ClimateIC’s co-founder and managing partner, said in the release. “Their innovative, service-driven approach to soil health closely aligns with our investment philosophy, centered on delivering significant financial returns while accelerating the deployment and adoption of solutions that deliver meaningful, sustainable decarbonization across the economy. We believe strongly in the MyLand team and expect that their persistence and unique technology will drive success and meaningful change.”
The funds secured are designed to empower MyLand to expand its service footprint, fortify its innovation initiatives, expand its team of specialists and forge strategic alliances that facilitate the adoption of its groundbreaking solutions throughout the agricultural sector, according to the release. MyLand provides growers with data-driven information and service-based solutions that improve soil health and bolster agricultural productivity, laying the foundation for a more sustainable future, according to the release.
MyLand’s patented technology and trademarked Soil as a Service approach allows farmers to easily and rapidly implement regenerative agriculture practices and improve their soil health by harnessing the land’s native ecosystem, according to the release. MyLand partners with farmers to infuse life into their soil, helping to return farms to their most fertile state, achieving greater productivity and enhanced profitability, according to the release.