Miraterra Technologies Corporation Raises $16M In Oversubscribed Financing Round

Individuals listed from left to right: Nate Kelly, CEO, Miraterra, Graeme Millen, Vice President, Strategic Finance and Business Development, Farm Credit Canada, Justine Hendricks, President and CEO, Farm Credit Canada, Karn Manhas, Founder and Executive Chair, Miraterra, Matthew Dahabieh, CEO, Catalera (CNW Group/Miraterra Technologies Corporation)

VANCOUVER — Miraterra announced the successful close of a new financing round raising $16 million (all amounts in CAD). The round was originally structured to raise $13.9 million but was reportedly oversubscribed.

At One Ventures was the lead investor in the round, with follow-on financing by Farm Credit Canada (FCC) and additional financing from S2G Investments, the Sitka Foundation and iSelect.

“We’re so grateful to our incredible investors for stepping up to support us in this round,” said Nate Kelly, CEO of Miraterra. “Building on our acquisition of Trace Genomics’ assets, this funding empowers us to scale our platform that gives the land a voice by translating soil’s biological and chemical intelligence into actionable insight through AI, genomics, and spectroscopy.”

The funding will reportedly accelerate the commercial rollout of Miraterra’s platform and expand measurement beyond soil to plants and food. It will also be used scale the company’s global operations and partnerships across the agricultural value chain, while deepening its AI and data science capabilities to try and reportedly turn complex soil and environmental data into actionable insights.

“The hidden half of the biosphere is beneath our feet, and soil health emerges from the interaction of mineral, water, and biological systems,” said Tom Chi, Founding Partner at At One Ventures. “Most tools only measure one of those dimensions at a time, which limits both accuracy and usefulness. What Miraterra is doing differently is integrating all three — mineralogical, hydrological, and biological — into a single, scalable measurement platform. That level of high-confidence affordable measurement is what makes it possible to serve farmers at scale and to accelerate the real-world adoption of regenerative agriculture.”

“By uniting Trace’s technology, lab, and talented team with Miraterra, we’re accelerating our mission to deliver soil-to-table measurement worldwide,” Kelly said. “Enabled by our new funding, the acquisition brings a pioneering U.S. soil biology company north, establishing Canada as a global hub for soil DNA sequencing and biological data innovation.”

According to Adam Smalley, Managing Director of FCC Capital, FCC’s investment arm, the Canadian Crown Corporation “is committed to supporting innovation that strengthens the productivity and sustainability of Canadian agriculture. Healthy soil is the foundation of industry’s success, and enhancing its quality is vital for the future of farming. Miraterra’s technology makes high-quality soil and biological data accessible to producers, empowering them to grow healthy crops and continue to put food on tables, both at home and abroad.”