A Garner-based company that helps farmers get more crops from their land has raised $1 million in a private equity offering, according to a filing Tuesday with the Securities and Exchange Commission.
Growers Holdings LLC raised the money from four investors. The company last raised money in August 2015 when it raised $750,000.
The company was founded in 2011 by North Carolina State University alumnus Steven Valencsin. It collects data from farmers and then presents them with a 12-month plan for managing their land. Growers calibrates equipment, manages soil, and guides farmers through variable rate planting.
Valencsin grew up working on his family farm in Washington state. After serving in the U.S. Navy, Steven started North Carolina’s first private soil testing laboratory while an agronomy student at NC State.
Valencsin continues to refine his approach on Growers’ Research & Development Farm in Guilford County.
In addition to farms in North Carolina, The company also works with farms in South Dakota and Texas.
Companies similar to Growers Holdings, which rely on a Reg D exemption, aren’t required to register securities offerings with the SEC, but instead they must file a Form D electronically with the SEC after they sell the securities.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism