Nov 21, 2022Soil health company completes financing
The MyLand Co. Inc., a soil health company, has successfully completed a round of financing designed to expand its footprint and the strengthen its regenerative agriculture approach in California, Arizona, Florida, Texas and the Pacific Northwest.
In the first closing of its Series B financing round led by The Borden Family Trust and Waterpoint Lane, the $12M investment will fuel MyLand’s growth, will enable the expansion of its footprint and support the company’s soil health efforts through the scaling-up of its grower solution, according to a news release.
MyLand’s work drives scalable regenerative agriculture through a farmer-focused service paired with new systems that have resulted in increased soil organic matter, water holding capacity, soil aggregation and carbon storage, according to the release.
“This closing is an important milestone for MyLand and puts the company in a strong financial position to fuel the growth and commercialization of for their trademarked Soil-as-a-Service, while increasing the installed base of systems with large growers in efforts to improve soil health through their unique regenerative process,” MyLand officials said in the release. The MyLand Service delivers live, native microalgae directly into the soil on a continuous basis that improves the physical, chemical, and biological traits of the soil, generating significantly healthier soil which in turn leads to healthier food, healthier people, and a healthier planet, according to the release.
Growers are seeing the economic benefits of the rapid improvement in soil health through implementation of the MyLand service, according to the release. Rob Knorr of Dakota Farms, an Arizona pepper grower, noted significant improvements in plant growth and plant health. “On fall pepper varieties, we were able to reduce fertilizer applications on soils treated with algae as well as noting increased water holding capacity,” Knorr said in the release. The adoption allowed Dakota to extend its time between irrigation cycles, resulting in reduced costs. “I appreciate the MyLand professionals that were committed to helping me to learn more about my own soils and how to be a better producer on better soils,” he said in the release.
“We see MyLand’s service as an entirely different method to providing growers an affordable and simple regenerative agriculture process; one that has an amazing impact on the health of their soil and in turn, their crops,” Michael Borden, of The Borden Family Trust, said in the release. “We look forward to this collaborative leadership to implement the company’s service and technology onto more farms and to demonstrate its potential for improving the nation’s soil.”