IKEA GreenTech invests Terramera for biopesticide
IKEA GreenTech, an IKEA Group venture capital company, recently announced that it has invested in Terramera Inc., a Canadian company with a unique technology for pest and disease control.
Traditional synthetic pesticides are used widely for disease and pest control in agriculture, but can be harmful to the environment. Using biological material such as plant extracts is better for the environment, but this alternative has often struggled with efficiency and stability.
Terramera’s Inspirium® Technology increases the performance of biological materials, allowing them to perform more efficiently. Inspirium® Technology results in sustainable products that work better than today’s synthetic conventional chemicals at protecting against pests and disease, promote plant health and increase farm yields.
IKEA GreenTech’s investment was carried out alongside new and existing Terramera shareholders, including Seed 2 Growth Ventures (S2G), ACA Investments, Bold Capital Partners, Renewal Funds, Maumee Ventures and Export Development Canada (EDC).
The company intends to use the capital to get products to market and increase R&D efforts.
About Terramera Inc.
Terramera is a Vancouver based Ag-Bio Technology leader developing sustainable plant based pest and disease control solutions to serve both conventional and organic farmers. The company is committed to developing highly effective bioproducts that improve quality of life, and are trusted to protect people, property and our earth.
About IKEA GreenTech AB
IKEA GreenTech AB is a corporate venture capital company making equity investments in green-technology companies. Our mission is to invest primarily in technology-based companies that improve the sustainability of the IKEA business activities. The company is owned by the IKEA Group. This ownership structure gives potential access to the global and well-renowned retail concept IKEA.