Vancouver-based agriculture tech company raises $ 100 million

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The company now manages more than 120 million acres of farmland in Canada, Australia, New Zealand, Europe and South Africa.

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A Vancouver-based agricultural technology company has raised $ 100 million through a private equity and venture capital firm.

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In a prepared statement released Wednesday, Semios said funding from the Boston-based Morningside Group would be used to accelerate its research and development programs and “the deployment of solutions to help producers around the world reduce chemical inputs, to better manage water and improve crop results. “

Since its inception in 2010 by current CEO Michael Gilbert, the company has raised $ 225 million, including $ 100 million reported in February 2020 and also through the Morningside Group.

The February funding was used by the company to take over three other companies working in the same field – Altrac, Centricity and Agworld, based in Australia.

In a statement, Morningside investment manager Mick Sawka said the company invests in companies “tackling pressing global challenges.”

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Semios uses technology, including hundreds of thousands of sensors, to mitigate risks to crops from threats such as drought and pests.

These sensors monitor things like climate, soil moisture, and insect and disease activity on a daily basis. This information is processed and advice may be given depending on the results.

“Semios is on a mission to simplify the grower experience, leveraging big data analytics and machine learning to help them mitigate crop risks so they can focus on growing more. of food, in a more sustainable way, ”said Gilbert.

“We have seen firsthand the challenges our customers face on the ground – from severe drought and devastating fires to frost, to reduced profitability and increasing regulatory burden. But, in the face of these challenges, we can help farmers continue to meet the nutritional needs of our growing population.

The company now manages more than 120 million acres of farmland in Canada, Australia, New Zealand, Europe and South Africa.


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