March 11, 2021. Calgary-based AgTech startup Verge Ag is pleased to announce the addition of SP Ventures, a São Paulo, Brazil based agtech venture capital firm, to its investor base.
Verge Ag’s technology allows farmers to easily increase the productivity of their machinery, improving profitability while reducing environmental impact. Verge Ag has proven that by using its software, Launch Pad, users meaningfully reduce the overall cost of each field operation. When equipment is at the right place, at the right time it becomes more efficient and effective; saving farmer’s money, season after season.
“We are very excited to welcome SP Ventures to our cap table as partners, and for the continued support of Fall Line Capital,” said Ryan Johnson, CEO of Verge Ag. “As we prepare for our upcoming capital raise in 2021, onboard additional customers in North America, build on our success in Latin America, and continue to integrate the Tecgraf transaction, the guidance from both SPV and Fall Line will continue to be valuable to the Verge Ag team.”
“We have been watching and getting to know the Verge Ag team since they began serving the Latin American market last year,” said Ariadne Caballero, Managing Partner of SP Ventures. “We are eager to become part of Verge Ag’s future, and to support the Verge Ag team in the region. This is a group that has made a lot of progress in a short period of time with their differentiated approach to solving some of the biggest problems facing arable farming today. For us, we are excited to be able to support Verge Ag’s growth now and going forward.”
Fall Line Capital, a San Mateo, California based private equity firm and existing investor in Verge Ag, and management also invested alongside SPV. Proceeds will support the ongoing development of Verge Ag’s market leading path planning and optimization software, Launch Pad, as well as its commercial expansion throughout both North and South America.
About Verge Ag
Verge Ag’s software empowers a farmer to execute their field operations with their existing equipment at a level of productivity and efficiency previously out of reach. Our product, Launch Pad, provides farmers with the tools to harness the power of artificial intelligence and digital simulation to automate in-field decision making and improve field operations. While most companies have been focused on increasing production or optimizing inputs, we have always obsessed over increasing profitability across the entire farm. That obsession has driven us to the digitization of how farmers operate their farms. Farms of all sizes and types from all corners of the globe. Our customer’s success stories are what keep us motivated and continuously innovating. For more information on Verge Ag and what makes it different, including to demo Launch Pad, please visit www.vergeag.com.
About SP Ventures
SP Ventures was founded in 2007 and is widely regarded as the leader in the agfood tech segment in Latin America. The firm has backed more than 30 tech firms that are transforming agribusiness, guaranteeing global food safety and empowering farmers. SPV is constantly searching for brilliant & passionate founders involved in any cycle of the agribusiness value chain. The partners firmly believe that entrepreneurship is the most effective tool to solve humanity´s gravest challenges. For more information on SPV, please visit https://www.spventures.com.br/.
About Fall Line Capital
Fall Line Capital is a private equity firm uniquely focused on investments in U.S. farmland and agricultural technology startups. Fall Line is a leader in sustainable farming practices that enhance farmland productivity while simultaneously improving soil health and resource-use efficiency. Fall Line’s insights and experience in farming have made it a leader in the application of new technologies to agriculture and a sought-after investment partner for AgTech startups globally. For more information on Fall Line Capital, please visit http://fall-line-capital.com
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Forward-Looking Statement
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such statements uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.