GARNER – Growers Holdings, an agtech startup based in Garner, has closed on some $4 million in new financing but wants even more.
According to an SEC filing on Monday, Growers has raised just over $4 million from six investors.
Growers logo
The company would like to raise another $1 million.
The capital raised so far is a mixture of equity and options, according to the filing. It raised some $1.75 million in two earlier fundraisers.
Growers focuses on data-driving farming. The firm launched in 2010. Its technology is designed to help farmers maximize productivity and offers a blend of equipment support, tech support and data integration, according to startup database site Crunchbase.
The company’s founder and CEO is Steven Valencsin, a graduate of N.C. State.
Growers 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.
“We turn farm data into recommendations that deliver results,” the company says.
Growers offers a three-step process:
Data tracked by Growers
One: Building the foundation
– High Resolution Soil Mapping/Soil Sampling
– Data Collection
-Information Organization & Standardization
Two: Creating the plan
– Fertility & Planting Management Plan
– Critical Nutrient Value Analysis
– Rx Development & Farmer Feedback
Three: Implementing technology
– Provide the Growers On-Farm Guarantee
– Equipment & Monitor Troubleshooting
– Operator Training
– Rx Implementation
